Purchasing a house from a wholeseller

[Mark Robinson]

Hello BP Team - going to my first walk thru of a house that is being wholesaled today. The wholesaler states its 129k for the house, all big ticket items are good, and the ARV is 200k. DOM for the area is single digits.

No repair list but the comps they pulled looked good and match the comps I pulled off the internet.  

The wholesaler states its a silent auction - there is a 45 minutes inspection window and then everyone puts in their best offer and the highest gets it.

Anyone seen this tacit?  Do folks bid under the price the wholesaler states (IE 129k)?

Any suggestions for me?  The walk thru is in 2 hours.

Mark Robinson - Texas