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Updated over 6 years ago on . Most recent reply
Is wholesaling commercial property in 45 Due Diligence realistic?
I have seen many youtube videos regarding wholesaling commercial property within the 45 day due diligence period usually vacant NNN possibilities. Question to brokers/agents? Do most brokers accept wholesale offers from investors? Do brokers accept letters of intent? Is earnest money always required on purchase contracts? And most importantly, in your experience, does national tenants move that swiftly within the seller's 45 day due diligence period and offer their LOI to lease the property since they must do their due diligence as well? I would love to get as much feedback from the experts as possible to form a realistic strategy going forward.
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@Lodina Cokley
when @Jay Hinrichs says unsophisticated don't read it as he's saying YOU are unsophicated. his point (and a good one) is that commercial properties are generally owned (or represented by) more knowledgable owner/investor/agents who will spot a wholesaler from a mile away. like both folks before me stated, they'll require a POF and scrutinize that even before reviewing a LOI.
Unrepresented residential homeowners are generally more flexible with the terms because they don't understand the process or right questions to ask to check it's actually you making the purchase. Whatever you do (and I'm not implying you will) just don't fib, although I'm sure you'll be honorable with the process.