Buying from a wholesaler - what do I need to consider?

[Patrick Menefee]

Good morning BP. I’ve seen a ton of posts about wholesaling, but most are focused on the seller and not the buyer.

So far I’ve only pursued deals with the help of my realtor, a friend of mine who I’ve relied on heavily. Understanding that I’ll be representing myself in a wholesale deal, I want to make sure I don’t overlook something that will have legal implications or hurt me financially.

To add to it, a few of the wholesalers I’ve seen deals from require the buyer to use their attorney. I trust that an attorney should be honest, if i want to be able to least do some of my own due diligence or know what to look for when pulling the trigger on something.

I understand the key advice when dealing with wholesalers is to do your own math on the deal, and the analysis I’m comfortable with. But what about the technical details?

What do i need to know to be comfortable with the process, including appraisal, inspections, due diligence period, title details, contracts, etc.?

Thanks in advance!