Do you verbally disclose to a homeowner upfront that you will be wholesaling their property to another investor? I know you can place “and/or assigns” in the contract to contractually disclose this fact. I guess if they’re motivated enough, they probably wouldn’t care too much who closes on the property. I’m just curious to find out how others deal with this.
Thanks,
Ben
I wouldn’t lie, but I wouldn’t put forth that information upfront.
You are correct, they just want to sell. They probably won’t care if someone else closes. The problem is if you tell them you are trying to find a buyer to close in your place, they will be concerned that you won’t close at all and then may look for another offer.
It is always in the way you say it.
“Mr seller, if I find a buyer before we close, do you mind if I assign them the contract and close it in their name? this would save me from having to pay twice for the closing.”
Hi Fadi,
I like your approach. There’s no surprising the seller at the closing table, plus it handles their objection upfront. It also gives them the perception that they have some control over how the transaction goes down. Nice!
Thanks,
Ben
Thats the art of negotiation. It is not what you say, but how you say it and when you say it. Don’t decieve people, but at the same time don’t make it sound so scary.
I tell people that I have multiple partners that I deal with so someone else may be there at closing with us.
Most sellers have no idea what “assign” means so thats how I explain it without getting technical and confusing the seller.