Wholesale: Seller has Contract with Realtor

[Brian Cowan]

Hi everyone. Been mailing and working on SEO for a few months now, and its working very well, getting leads every day. I have a lead on a home just outside Austin TX with an estimated $190K ARV. Seller owes approximately $140K and there are less than $5K in renovations needed. The problem is that the seller singed a 6 month agreement with a Realtor (5 months to go) who led her to believe that he could sell the house in a month. That hasn't happened and she is not going to be able to make her payments. Has anyone here wholesaled a deal with a sellers Realtor involved? I would love to know how it went, how you approached/pitched to the Realtor, etc.

[Greg H.]

Not saying it is not possible as hot as the Austin market has been over the last few years, but I would question as to whether a property needing minimal repairs would be worth more than it has been listed for 5 months in the MLS. A few thoughts:

-Where is it located ?  Outlying communities have slowed a bit and we are heading in to the slowing selling months as well

-Realistically, she has 3-4 more months at a minimum before they begin the foreclosure process

-Feel free to contact me for comps if you need them