How to handle this situation Agent Vs Wholesaler- dont hate me

[Devon Garbus]

Preface- I'm a Real estate agent. Some of my best clients are Wholesalers. I loathe bad wholesalers who don't even know how to write a contract properly but think they should get massive assignment fees. The ones who lie and (imo) scam people out of their money make me really upset. I try not to hide this fact from anyone.

I'm probably about to make a lot of people on this forum hate me...

Situation- FSBO (i.e. listing prospect) has a home that isn't worth a dollar over $375k to an investor and is worth 425-450kish on the open market to someone buying a primary home. I've been in touch with this guy for a while. Shame on me for not getting the listing yet right?

I saw an additional fsbo add pop up today on Craigslist without the owners name on it. I looked into it and it's obviously an add from a wholesaler, with some incredibly 'optimistic' repair assessments in the description.

Curious, I called the owner and asked him what was going on. He thought these guys had a 'partner' who was going to take over the contract and give them a cut, and hey by the way we might show the house to someone else to  see if we can get a better price on it you wouldn't mind that right?

The wholesalers have not even filed the paperwork with a title company (wut?)even though 'their partner likes it and will be ready to file the papers in a few days and dont worry we will close on time!'

So I told the owner what I suspect was going on. I explain to him that these guys probably have no means of closing on time, even if they brought in someone from their craigslist add, and what I'm sure will probably be 100 little white picket signs along the road this week.

I told him to ask to see the assignment paperwork and to talk to the 'partner with the money' and have the contract go to title company tomorrow. If that isn't done they obviously won't be able to close on time without finding someone on craigslist and if by some miracle they get someone to close on it more power to them, but don't sign any extensions as they are liars who don't have anything close to your best interest at heart.

How would you guys handle this?