Wholesale Deals: Potential Unscrupulous Buyers

[Shelli Schilke]

I’m a wholesaler and was told to NEVER leave a potential buyer and seller alone together during a walk-through because the buyer could go around me and try to steal the deal.

QUESTIONS:

1. If I’m under contract with the seller and it’s filed with the title company, how could a buyer do that without it being breach of contract by the seller?

1. If this potential buyer were unscrupulous, they could easily contact the seller afterward so why do they need to be watched closely during the walk-through? There’s a reason why they’re “unscrupulous.”

1. If a potential buyer made an agreement with the seller in writing while the seller and I were still under contract, I didn’t find out about it, my contract with the seller expired, and this buyer then essentially steals the deal from me. What recourse would I have at that point?

1. Is there any way to prevent this from happening?

1. Is there anything else I’m missing or need to be aware of regarding bad actors?

TIA for your feedback!

P.S. If I don’t succeed as a wholesaler, I would probably fare well in Risk Mitigation/Management, lol!