"Can we close sooner?" asks my seller while I look for buyers...

[Chris Gould]

I have a house under contract in Toledo, Ohio that I'm looking to wholesale. Just received the signed contract back and I've started marketing the house to investors in the area. The homeowner then asks me when we can close by even though September 30th was listed on the contract. I said mid-September and she gets mad saying she thought we would be closing sooner than that and that she had "verbal cash offers" from other investors. 

How should I handle this situation? And in general, when wholesaling, what is the best reasoning to give for a 2 month closing window? 

I want to be honest with these people and set realistic expectations for the process. 

Thanks BP. 

[Ryan Pyle]

Tell her the real answer. If you can't, then you should probably look back over your marketing and ask yourself why she has the expectations that she does. Whenever I wholesale, I tell the sellers up front that I'm most likely going to be the lowest offer, that they can get a better deal by calling a real estate agent, but I'm your guy if you want quick cash (I buy the property with cash and then resell). I also tell them that I'm most likely going to just sell it to another investor. They either thank me for my honesty and tell me that they need a higher price (in which case the deal never would have worked anyway), or they say, "I don't care, I just want to get rid of it," in which case I know I just struck gold.

My point is be honest. You will eventually get caught in a lie/deception, and it probably won't end well.