Possible purchase from a wholesaler

[Kasey Newbold]

This could be my first purchase from a wholesaler. His asking price and his ARV both seem good. What I'm wondering is if his expectations are normal since I've not dealt with a wholesaler before. He wants the asking price to be his net, so the buyer (me) is to pay all closing costs and unpaid property taxes for the year (Indiana pays taxes in arrears). He wants a no contingency contract, purchase in cash, as is, and a $2500 non-refundable deposit along with the purchase contract.

Is this normal? If we don't use a realtor it still adds at least $3000 to the asking price...

If I get it, I'm also considering using a delayed financing option to then free up my cash again to do the necessary rehab work.

Any insights for me? Thanks in advance!

[Andy Rumple]

If a wholesaler gets a deal for a good enough price he deserves his profit. If you try to cut into the profit too much the wholesaler will find another buyer. Buyers talk a big game but are a dime a dozen in this market. Have wholesaled 500 deals and none to people who act like Ross.