When I speak to agents and I tell them I wholesale they don’t know what I’m talking about and I have to explain to them. They tell me that they never heard of it.
No surprise there.
Agents are trained to be agents. They do not understand other aspects of the business. Most do not know what it is like to be a landlord.
Agents can also view you as competition.
yeah, so how should i handle them?
SIMPLY! Don’t tell them. Your placing a home under contract using them or thier services. The agent doesn’t care what your doing with it after closing. If your doing an assignment, make sure that the state contract says that you can assign it, if your planing on assigning it. . You may have to do a double closing if its a REO or such.
Then once you have a house under contract (make sure you have escape clauses) then contact your buyers and use your own assignment form. YOU WILL have to go to closing on your side of the contract if you can use an assignment. You should go requardless so the agent knows all is good and if it goes smooth “they” (the agent) will want to do another with you quickly. You just proved your a player and know what your doing.
Word of advise though. Don’t put a house unders contract and not have a buyer lined up. Find your buyers first. If that agent takes the house off the market for you and get title work done then you walk, you have just burnt your bidge with that agent and if you ever try to buy another from that agent, trust me, they will be very slow at presenting your offer the next time. May not even present it and just say it was declined. You will have no way of knowing if they present it either.
Thanks for the advice. Next question is how do I find a title company when I am trying to put a house that is off the market? Thats one thing that I am confused about.
I am not sure what you are asking. I have bolded and underline the part of the sentence that does not make sense to me. Please explain or restate.
Im sorry…What I wanted to say is once I have a house under contract how do I find the Title company to let thme know I am assigning the contract to an end buyer and how does the Title company process the contract? I hope that is clear.
Just call the listing agent and ask what title company they will be using. They should be willing to provide that information since you will be getting the closing documents from them.
Then you need to contact the title company and explain to them what you want to do. Typically you will need to do a double close. You close with seller and then you will need to turn around and immediately close with your buyer. The money from the second transaction will be used to pay for the first one.
You should be informed that not all closing companies will handle a double close. You will need to be very clear with them and make sure that both ends of the deal are solid.