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Updated over 11 years ago on . Most recent reply
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Has anyone wholesaled a property listed with an agent?
So I had a sweet deal wrapped up, so I thought, and the absentee owner listed with an agent the day before we were scheduled to meet. Too bad for me, so I thought. Over a month later he contacted me and asked if I would still buy for the price we had agreed on, even though it was listed for $30k more. Turns out he had a troubled tenant and was not able to show the property as intended.
Anyhow, now he wants me to go through his agent and make my offer. I will be wholesaling this property, but I know that good agents require proof of funds, pre-approval letter and substantial earnest money. I want to be as ethical and upfront as possible, but I know RE Agents are not supper friendly to wholesalers, especially in Ohio.
I am meeting with the Agent today to do a walk though, and I may just say I will be closing with private funds, the owner already gave me the OK, and double close to avoid them seeing the assignment.
Has anyone dealt with this before? How did you explain what you were doing to the agent?