Wholesaling questions for a beginner

[Darrell Lane]

Hello everyone,

I am new to BP and realestate. I'm based in Atlanta and I have a few questions about wholesaling. How are attorneys paid in a wholesale deal? Also after I put a home under contract does the investor inspect the property before they purchase it ? Thanks for the advice.

[Brian Cam]

Hey Darrell,

1) Attorneys get paid on the sale of the house.  There fee is wrapped up in the "closing costs" of the transaction.  When you structure the deal, you decide who pays the closing costs.  Your options are

A) Buyer pays all closing costs B) Seller pays all closing costs C) Buyer and seller pay their own closing costs.

As for the inspection.  When you contract a property you should be able to get the investor in there to see it.  I wouldn't show your buyer the house unless its under contract, or they don't need you for the purchase (unless you have a good relationship with the buyer).

Hope this helps.....feel free to pm me if you need more help.