Should You Buy From a Wholesale Investor?
What Wholesale Investors Do Wholesale Investors are in the business of finding and negotiating real estate deals.
They provide fast solutions for home owners who are in distress or have a need to sell quickly.
Sometimes the home itself can be the cause of distress, due to excessive damage or lack of proper maintenance.
However, if the personal situation of the home owner is the reason for distress, the home could be in good or even excellent condition.
Will I Be Protected? As in any real estate transaction, proper transaction processing is your key to success and protection.
Make sure to get title insurance, and that the transfer of ownership is handled by an escrow or title company that will transfer control title and funds.
In addition you should consider getting a professional home inspection, especially if you are not in the business of fixing up properties yourself.
As in any other transaction directly between seller and buyer, If you're not working with an agent seller disclosures.
What About Using an Agent? It's up to you.
Some people are comfortable buying directly from the owner because this usually saves money.
Others feel more protected with an agent.
In a typical wholesale transaction, the wholesale investor offers the property at a "net price", meaning if you use an agent the agent's fee may have to be added to the price.
What Are the Risks? Risks are the same as in any "retail" transaction.
You could discover problems with the property only later.
Keep in mind that some of the discount that you get in the deal is due to the fact that the home is not in perfect condition.
Be sure you know what's wrong and are aware of your cost of any repairs and fixes.
They provide fast solutions for home owners who are in distress or have a need to sell quickly.
Sometimes the home itself can be the cause of distress, due to excessive damage or lack of proper maintenance.
However, if the personal situation of the home owner is the reason for distress, the home could be in good or even excellent condition.
Will I Be Protected? As in any real estate transaction, proper transaction processing is your key to success and protection.
Make sure to get title insurance, and that the transfer of ownership is handled by an escrow or title company that will transfer control title and funds.
In addition you should consider getting a professional home inspection, especially if you are not in the business of fixing up properties yourself.
As in any other transaction directly between seller and buyer, If you're not working with an agent seller disclosures.
What About Using an Agent? It's up to you.
Some people are comfortable buying directly from the owner because this usually saves money.
Others feel more protected with an agent.
In a typical wholesale transaction, the wholesale investor offers the property at a "net price", meaning if you use an agent the agent's fee may have to be added to the price.
What Are the Risks? Risks are the same as in any "retail" transaction.
You could discover problems with the property only later.
Keep in mind that some of the discount that you get in the deal is due to the fact that the home is not in perfect condition.
Be sure you know what's wrong and are aware of your cost of any repairs and fixes.
