All Forum Posts by: Ji Choi

Hi BP family!

I'm currently in talks with a wholesaler who has a MFH in Seattle for sale. As far as I understood, she bought the rights of sales and purchase agreement from the listing agent.

Looked up the history in zillow: two months on the market then one month off, now the wholesaler got the property (but the seller is still working with his agent.)

Yesterday the property poped up on the market and turned into pending. The wholesaler doesn't know why the listing agent listed a status update. This looks uncommon. Anything we can do to protect ourselves from unwanted complications?

Another question is that the wholesaler is not letting us review the purchse and sales agreement before signing her assignment agreement with a smallish (0.3%) EMD check paid to the order of her LLC instead of escrow. Is this common in a wholesale transaction?

A lot of these issues could be handled by having buyer's agent but the wholesaler is reluctant to work with one saying that she can help with all the processes.

I'm new to the game so I'm not even sure if I'm being overly cautious or overly careless. I'd appreciate any comments and thoughts.