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Updated about 4 years ago on . Most recent reply

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37
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Javaughn Harkness
  • Rental Property Investor
  • Akron, OH (Akron)
11
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37
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Wholesale with realtor involved

Javaughn Harkness
  • Rental Property Investor
  • Akron, OH (Akron)
Posted

So I’m working on a lead and the property is listed at $40k with a realtor but the seller reached out to me and asked for $10k. He’s really motivated. So I called and put my offer in for $10k. It’s been on the market for a week. Any suggestions

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

The owner has a contract with the listing brokerage so they can't sell it on the side without paying the commission. And to @Wayne Brooks point, there is not a chance they don't have other things going on if they have it listed for 40k and are calling you to sell for 10k. Seems like a rabbit hole that will get you nowhere. One of many rules of wholesaling, don't spend any time on properties that are on the MLS.

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