| If you are looking for a new primary residence, you | | | | where they can make a profit, yet still sell the house to |
| probably have a bleeding heart for those buyers who | | | | the next buyer at a discounted price. Why not buy a |
| look and look, day in and day out for a decent | | | | property knowing the evaluation of value has already |
| property to call home, only to have their offer lost or | | | | been determined with such strict criteria and usually |
| unanswered for weeks; or worse -- declined for no | | | | below market too? You Win! |
| reason at all! Heck, you might have experienced this | | | | Secondly, the wholesaler will often buy a property that |
| yourself if you've been out there making offers. Stop | | | | needs cosmetic repairs (a.k.a in the real estate world |
| the rat race and buy direct from a wholesaler! | | | | "TLC"); not always properties that need to be |
| Most wholesalers will only buy properties in sought | | | | completely gutted or renovated. If you're using |
| after areas, where demand is high for both primary | | | | conventional financing to buy the property, make sure |
| residence buyers and renters. The most sophisticated | | | | that the property's condition is not too bad -- as many |
| wholesalers complete their due diligence before | | | | loan programs require kitchens to be intact, flooring in |
| obtaining a property, so this is a big benefit to you -- | | | | each room, etc. Buying a home that needs light to |
| the end buyer! Here are a few reasons why you | | | | moderate repairs is usually "doable" for most potential |
| might benefit from buying your home directly from a | | | | property owners, especially if you receive a substantial |
| professional wholesaler: | | | | price discount as a result. You Win! |
| First and foremost, wholesalers buy BELOW current | | | | Lastly, some wholesalers may offer seller financing |
| market prices! This is critical to their livelihood, so this is | | | | with some of their properties. Such arrangements can |
| the usually the #1 key factor and motivation before | | | | be a huge benefit for buyers with less than good |
| ever setting foot on the property. If a wholesaler | | | | credit. Financing offered by wholesalers is typically |
| makes an error on this step, it will be difficult for their | | | | shorter term (not 30 years), so be sure that the length |
| exit strategy to work successfully and in a timely | | | | of the financing offered will allow you enough time to |
| fashion. When an appraiser is completing an appraisal, | | | | get new financing on it. You Win (again)! |
| it is customary for him/her to search for past sales | | | | So add your local wholesalers to your list of potential |
| within 1 mile, and when a wholesaler evaluates a | | | | property sources. You might just save yourself a |
| potential property to buy, the search is similar but often | | | | boatload of money and get a house where you can |
| more stringent. The wholesaler will purchase properties | | | | add the finishing touches the way you want them. |