Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

21
Posts
5
Votes
Isabella Rogers
  • Wholesaler
  • New Orleans
5
Votes |
21
Posts

First Potential Wholesaling Deal

Isabella Rogers
  • Wholesaler
  • New Orleans
Posted

I have an on-market deal that is perfect, the price is actually under the MAO, and I'm aware of how much rehab it needs, ran comps, ARV, and I know the area. I want to call and make the offer, but I'm confused on what happens next. I know the steps, like making sure I get the agent to add certain contingency to cover myself, add an inspection period, making sure it goes through my preferred wholesaling friendly closing company, etc. But when I make the offer, and when/if it's accepted, do we go straight into taking about the contract? Do proof of funds come first? I'm just not sure how to put the motions in action after the offer. This is my first potential deal and it's perfect, I don't want to lose it, but I also don't want to get it and not know what to do with it. Any advice, tips, and info is appreciated!

Thank you,

Isabella R

Most Popular Reply

User Stats

2,259
Posts
2,477
Votes
Eric James
  • Investor
  • Malakoff, TX
2,477
Votes |
2,259
Posts
Eric James
  • Investor
  • Malakoff, TX
Replied

So an investor won't purchase it while it's on the market, but will instead pay you more for it after you have it under contract. SMH.

Loading replies...