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 

[Anthony Dooley]

I do not trust any information that I'm told, especially a wholesaler. I would verify everything myself and I would not be pressured by any time limits. Make an offer based on what you actually know about your market and let the chips fall. New investors may bid up the property. Don't let that take you off of your numbers. If they over pay, that is their fault. There is another house on the next corner if you don't get this one.