Closing On Virtual Wholesaling Deals

[Andre Lindsey]

I recently just purchased a course on virtual wholesaling and it doesn't cover how to close a deal without seeing the seller and the buyer.

[Nicole Starnes]

I'm  kind of curious as to why everyone is recommending to start locally...I can see it for familiarity purposes but if you plan on wholesaling in other markets (I think a wholesaler would be limiting themselves if they didn't) then why does it matter WHEN you start? This is my understanding:

Negotiations between you and the seller are done over the phone. You ask the seller detailed questions about the property and ask if they happen to have any pictures (they usually say "well...ummm...no, but I'm sure I can take some, what would you like to see?). Make sure they take pics of anything significant that they describe. Once an agreement is made, the contract can be either mailed / emailed / faxed to seller with instructions on how to review and sign...leave # in case they have questions. Once you get the contract back, market for a buyer. Once you find a buyer, do the same paperwork process with him/her. Find out which company they're using to close and send all documents there...money can very easily be exchanged from afar also.

Am I missing something? I've actually done this locally. Never met seller or buyer in person but we communicated very well. I'm just curious about other wholesaler's views on what the hiccups of this process are and can be.