More questions for wholesalers

[Mike Lee]

Okay, I think I'm starting to understand the wholesale process. It's the little things that I don't understand.

Correct me if I'm wrong:
1.A wholesaler finds the deal from a motivated seller.
2.Secures the deal with a "subject to" purchase agreement.
3.Flips the contract over to another investor.

I understand between 2 &3 the wholesaler is marketing the property to investors, but what is he telling the seller all the while. I see bandit signs all the time "48 hours Cash for your home"...etc. I'm lost as to what a wholesaler is telling the seller this whole time between 2&3. Is he stalling/buying time?. For example, I secure the "subject to" purchase agreement. As soon as I do that the seller should be expecting to close the deal immediately....right? Do wholesalers disappear for a month or so until they find an investor to assign to? I'm not sure I understand this part.

Mike