Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

User Stats

8
Posts
3
Votes
Crystal W.
  • Houston, TX
3
Votes |
8
Posts

Structure an offer to a Wholesaler (I am the Investor)

Crystal W.
  • Houston, TX
Posted

The place for the best advice (I hope).  

I came across what appears to be a fairly good property, but I am not sure about the repair costs as the Wholesaler said he does not live in town and thus cannot do a site walk without an offer.  I have never made an offer on a wholesale deal before.  Should I expect to get an option period for a few days for inspections and/or a home tour?  I am not going to make an offer with-OUT an out clause if I have not checked the home myself.  Or I could make it for what I believe is lot value, in which case, who cares what the repairs are (other than the fact I plan to do basic repairs for rental usage until the property appreciates for new build).  

I am also struggling with valuation as it is a bit of a unique property.  Double lot, with two houses (but only one address, not sure if I will have time to identify whether or not it can be subdivided, but based on my knowledge of the area, 90% sure it can), so not many true comps.  

Anyway, primarily want advice on what kind of contract/offer to make, contingencies, etc.  And would the expectation be for us to be in escrow before I can even see the home?  If so, what would you expect escrow percent to be?  (price will be $120-180k).


Thanks in advance for the advice!

Loading replies...