Wholesaling: What information do I need to take to buyers

[Parker Odoms]

Okay, let’s say I find my 1st property, and get it under contract. What information do I need to have in place before going to my buyers? Also, once I have a house under contract should I have my lawyer review the contract right away? Lastly, should I have my own title company, or does the buyer typically use theirs?

[Tyrus Shivers]

@Parker Odoms

A lot of questions and the answers could vary so I will answer from my perspective.

You should have the contract reviewed before signing it or introducing it to the seller. Either get a contract from an attorney or a title co. Many wholesalers have their own go-to title company. Before you go to your buyer you need a signed contract, comps to support the price you are asking, and a repair estimate which you should have to determine your offer in the first place. All buyers should do their own due diligence, but if you deliver quality numbers you can increase your serious buyers list and they will want to work with you. I do know wholesalers who do not provide any of that, but I would.