All Forum Posts by: Christy Gilliam

wholesalers- you see a property on MLS, which means it's listed with a realtor. You want to do a wholesale deal with it (assign it). What is your arrangement with the realtor? Please be very specific. Thank you

I meant commission would be paid by the seller. So, the question about having to price differently when using a realtor: would I need to combine the commission with the offer to seller or does seller normally pay out of pocket at closing? (separate). Adding commission into offer to seller changes the what I offer the deal to my buyer. (have to make sure buyer still gets a good deal). What's the best way to find out how much seller owes yet on his property? Realtor have access to this info?

wow what a great response! okay, Rob and Juan. You stated lots more details are left out. In a typical wholesale deal, the wholesaler ( one who puts property under contract w/seller)should collect an ernest deposit from the buyer. This still holds true when using the realtor? When deciding what to offer seller,and what to sell contract for to my buyer,(if I was going to use a realtor), would I have to take into consideration now the way I price the deal? (because realtor has to be paid). On a normal deal not using a realtor,) buyer pays closing costs already, does this mean that if were to use a realtor, buyer would have to pay realtor also? When using a realtor, do we use the assignment contract a wholesaler uses, or which one? Please add anything else I may not know about. Thanks again everyone.

Thanks for replying, Brian. I'm new to all of this and I heard that there are realtors out there who work with investors so they understand how a wholesale deal works. Think maybe I'll just work alone instead.

Thanks Tom for your reply. One of the reasons I thought of using a realtor was I assume they must have alot better access to more handyman's, vacants, rehab's, etc. Is this true?

It might also depend on how much the realtor does for you on each transaction -right? Just send you listings OR actually do the whole transaction for you.

Thanks everybody. A little clearer now. Wasn't sure if you give the realtor a commission regardless , a %, or maybe a flat fee. If they were going to get a commission, seller pays that at closing on HUD form. Correct? But, if they are getting paid a % or a flat fee,( instead of a commission) that's my responsibility, right? I would have to pay them out of my assignment fee?

Hello everyone. New to this site. I have some questions. I want to wholesale deals and assign them to a buyer, using either an Assignment Agreement or an Option to Purchase agreement. I want to use a realtor to find undervalued, handyman, re-habs. ( I understand they have access to these types before they hit the MLS). I'll have realtor find properties, do comps,etc. So, here is how the deal will go. I decide on which property I want to make offer on, decide on price, run it by the realtor. Realtor calls seller, makes this offer, seller accepts, I put it under contract, seller signs contract. Meanwhile, I am finding a buyer. I find one who wants property, I collect a non-refundable deposit from buyer, and buyer signs contract ( with inspection clause in case buyer backs out). Realtor takes contract to Title co for closing and has my fee (the remainder of it after non-refundable deposit on HUD form. Buyer cuts check at Title co. to seller. My fee will be separate on the HUD form, so Title co. will cut me my check. How does realtor get paid in this wholesale deal? Does this cut in to my fee, do I need to re-figure it? Thank you, Christine