Wholesaler · Houston, TX · Member since 2012 · 42 posts · 2 votes
Good day BP members,
Just received my first call from my direct mailing. Basically I found a vacant property while visiting family. Checked and researched and saw the property was NOT listed.
I have sent two Yellow Letters to the owners and got a voice mail today about the home. Went to Realtor.com to make sure it wasn't listed, but now it's NEW LISTED. Wasn't so last week.
What should I do? This deal can't be wholesaled since it's listed correct? Should I tell them call me if they can't sell the home?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
14y
The fact it is listed doesn't stop you from being able to wholesale it.
Most contracts the Real estate agents use specify they cannot be assigned. You can still double close. You can also modify the contract so that it is assignable. You can buy it in an LLC and sell the LLC. You can go directly to the seller and make an offer with your own contract. (presuming you are not an agent yourself and you are not trying to cut the agent out of a commission.)
Why do you think you can not wholesale a listed property?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
14y
Many investors prefer unlisted properties because they think they can get better deals that way. Also there may be a perception that if this came from the MLS I can get a deal like that on the MLS. Lastly there may be some that feel like why should you make any money, all you did is find it on the MLS.
The reality is if the deal you are offering is good enough someone will want it. If no one wants it, it is not a good enough deal.
How much you make or where the deal came from wont make a difference to a serious investor. All that maters to real players, is it a good enough deal for me. Good Luck - Ned
Wholesaler · Salt Lake City, UT · Member since 2009 · 1k+ posts · 401 votes
14y
Contact the seller, find out what kind of listing it is, many can be bypassed, becasue the agent does not have an exclusive right to sell, and you can still buy direct.