Being transparent with a homeowner about wholesaling their home

[Marie Grabo]

Can someone advise me on how to be transparent, what to say to a homeowner who is willing to sell me their home way below MV? I would like to try to wholesale it as I'm not interested in buying it myself. I'm new to this or at least I have not done a deal yet and I want to be transparent instead of pretending like I'm going to be the one to purchase when I'm going to sell the contract...Thanks in advance.

[Suzanne Player]

You are buying their house, but you might assign the contract because you might get an offer before and want to leave open that possibility.  You have the time and the contacts to market the house.  You are not guaranteed an end buyer, and are prepared to go through with the sale either way.  It won't make a difference to them, because they have a reason for selling their home quickly below market value.  Selling to you gives them the cash they need when they need it and the certainty that the transaction will occur on their timeline.  If they really do need the certainty and the fast sale, then your attempting to sell the house to someone else shouldn't concern them.  

The reasons they need the quick sale should be the focus, what's in it for them.  Make sure they are clear on their motivation and okay with the structure, if not, it's best to find out sooner than later.