Got baited by a bandit sign :(

[Paul Ewing]

Well that was a new one. Totally amateur hand made sign so I thought I had a good lead on a FSBO. Turned out to be a wholesaler trying to tack $10,000 onto a house that has been listed for $15,000 too much for the last 6-8 months. Tied to play it off as just coming on the market and sure to not last long. Oh brother. I was pretty sure it was a guru seminar graduate when I called the number and the recording said if I was calling about the house please leave my name and number. Then I when he calls back he asks what city I am looking in. Sheesh.

[Jay Hinrichs]

@Brian Ky  thats the issue  wholesalers have no rules or ethics or morals they they have to follow. its up to the individual.. some wholesalers i am sure are very ehtical and moral individuals.. others I have no doubt are financial sociopaths.. IE its all about them and they could careless about anyone else they only want as much as they can get for themselves.

You owe no wholesaler any loyalty or anything like that.. A wholesaler needs a binding contract with a seller so you can't go around them... and of course if you do go around them they are not going to bring you anymore deals.. so its common sense and logic in that regard.. however if the wholesaler appears to be a novice and and can only close if you close then you can set them up if you wish.

go into contract with the wholesaler you will then get to find out who the owner is when you get the title work.. wait until the close date do not close wholesaler probably is out of contract ... contact seller either prior or just after and go direct...

wholesalers if they are going to protect their position need to have the funds to close so buyers don't go around them if they don't they will get burned over time.

I know when I flipped some subdivisions in my day. and these were larger type transactions 500k plus.. we had our cash ready.. as the builder who was buying them would go around us in a heart beat.  

I like the Butch Cassdy line form the Movie   ( Knife fight there are no rules in a Knife fight) then butch kicks him in the you know what s   LOL

In the Timber business we called these folks Timber pimps...