Wholesale deal closing

[Alex Dizon]

Im about to have a wholesale deal tomorrow, she agreed on 120k and the listing of the property was 170k . How do i go about it? Btw i just started this. Its a realtor that im working with, and shes asking if i would want a appraisal. I dont have any money but i do have a cash buyer on side, so how do i go about this deal and earn some money with it? Any help , helps! 

[Frank Hinck]

@Alex Dizon

Have you run the ARV comps to make sure a buyer will be interested in it for $170K? Not that every deal operates in the 70% minus repairs rule, but on a $170 70% would be $119, minus repairs maybe $20k, minus your wholesale fee $9, you need to buy for $119-$20-$9, you need to buy for $90k not $120k. Also do you have an Assignment Contract that is legal in your state? you probably don't need an appraisal, but you do need 14 day inspection in your Contract so your buyer can walk through.