Why do some people sell their real estate through a wholesaler?
Posted on June 23rd, 2010 in Renting & Real Estate | 1 Comment »
westphalia1 asked:
A real estate wholesaler who uses an assignment contract and "ties up" your property for sale? Is it a good or bad idea to sell through a wholesaler? Why? Why not? Thanks I mean whats the difference between a wholesaler than a regular broker?
Gps Systems
A real estate wholesaler who uses an assignment contract and "ties up" your property for sale? Is it a good or bad idea to sell through a wholesaler? Why? Why not? Thanks I mean whats the difference between a wholesaler than a regular broker?
Gps Systems
One Response
Playa Del Rey Real Estate
I am a wholesaler: I will negotiate with you to get you to sell me your vacant or runned-down property–I will tie up your property through a pruchase and sales contract and a $10 dollar bill and then I will sell the property to an other Re-Hab Investor who will fix and sell or Fix and rent the property– I will negotiate with you to let me sell it for a certain amount say 65,000 and I will earn about 10%($6500) for assigning a property that may very well have a good condition value of 89,000 if sold at market value–
I will earn my money by assigning my contract to the other Investor who will pay one kwik chunk to the previous owner at closing for the sale price of 65000 and I will get my assignment fee of 6500 at closing from the purchaser and everyone gets happy in the end. this is called “quick flipping properties” and is exactly what I do. Hence the name Kwikflips