Wholesale specific

[Mark Gingrass]

Is it customary to ask what the contract price is on a wholesale propety.

This property was offered for 12K and I offered 7K for it. They said no but they would take 8K...So my partner backed out and I told them I could still do 8K contingent on financing. They said that they do not allow finance contingencies. Then they went ahead and talked about closing costs etc and I got out of them that they had only purchased the house for 5K and that it needs to be closed by the 14th of October.

Mind you, this is a company that has lots of houses under contract.

Do you think it would be ok to come back to this offer and offer them maybe 6K? Or eve 5K?

Or maybe even go to the owner of the house around the 14th of October and offer them 5K if it doesn't sell with this company?

Thanks for all your help.

Mark