:cool Question? Ok, when the seller is not familar with wholesaleing and they ask if you own the house, what do you say to not confusse them or screw the deal up? For instance, we have a contract on a house and have a buyer that isn’t familar with the wholesaleing concept. They asked if we own the house and we said yes but then explained what we do. Don’t know if that was the best way to handle that, so does anyone else have a better way to exxplain or an answer that question with out screwing the deal up or them being to confussed? Please reply back if you have any advise. Thank you for your :help.
I’m not really in an experienced position to respond, but I’ll throw this out there.
It shouldn’t be any different from you just selling them your own house. Act as if it’s a normal sale. Just in this case you have only owned it for a short period of time.
I’ve noticed one of the questions many people ask when you are trying to sell something is. “How long have you owned it?” along with… “Why are you selling?”
I think if you are wholesaling the best thing would be to be honest. If you later discover you aren’t honest, they might want to back out of the deal.
You have to try to present that you are getting them a great deal that they can’t find just anywhere and that you have a network of people you work closely with to get the best deals. Tell them that you research many many houses for every property that you actually put under contract (wish should be true). Some people might think that you are just trying to “make a quick easy buck” , which is frustrating as everything takes work.
If they prove too difficult to deal with find someone else…have backups. If they prove difficult to deal with in the beginning , it will probably get worse later on.
There are a lot of timewasters out of there that just want to fantasize about buying a property and they might not even have the means to do the deal.
What did they say after you explained what you do?
If you are offering someone a great deal, and they are serious about buying the property. They shouldn’t care how long you owned it, how much you paid for it,etc .
Tell them the truth- you’re a wholesaler, and this is what you do for a living.
I never beat around the bush with people- I tell them right off the bat that I have the property under contract with the bank and I will sell it at the same time I buy it.
If it’s a great deal, and they are a serious investor- they don’t care.
Good luck,
Steph :cool
“Ok, when the seller is not familar with wholesaleing and they ask if you own the house, what do you say to not confusse them or screw the deal up?”
I think you mean the buyer asked the question? anyway, if the buyers are investors they should know about wholesaling. If not, be honest like Steph said and just explain it in the most simple way you can. It should be difficult. Good luck!
Just keep it real, tell them the truth. Tell them that you have the property under contact. I always found that truth and honesty is the best way to go in this business. You dont want foul business practices to come back and hunt you in the future.
Good Luck :bobble