Tips for Wholesaling Homes
Experts have said that today is a good time to invest in real estate. However, many people are afraid to try it because of the capital required in the business. Well guess what? There are real estate investment forms that require little or no capital. One of them is the wholesale of houses.
Basically, it’s about putting a property under contract and then selling that contract to a final buyer who will close the deal. It’s like looking for properties for buyers and finding buyers for sellers. Make life easier for sellers and buyers and earn from it. It is not necessary to buy a house in this business. What you have to pay is the contract to purchase the house and not the property itself.
If you want to give home wholesale a try, here are some helpful tips:
1. Look for motivated salespeople. Instead of looking for very cheap properties, look for sellers who are “motivated” to get rid of their properties. These are homeowners who are forced to sell their property for various reasons. If you deal with a motivated seller, you are likely to get the property at a bargain price. Remember, these homeowners are concerned about selling their property, not how much you are willing to pay for it. The divorced, those who lost a loved one in that home, and those who inherited the property are all “motivated” to sell their homes. Those who are selling the property because they bought a new home or are moving also count.
2. Listen to your salesperson. Wholesaling houses requires good negotiation and a good negotiator, they say, is not someone who can play with words but someone who really knows how to listen. Especially if your salesperson is motivated, it will be best to hear their stories first. After they talk, make them feel that you are willing to help by buying your home.
3. Dictate the price. When deciding what price to buy a property for, always consider how many similar properties cost in the same area. You can also hire a professional appraiser to determine the home’s value. Look at what price your seller wants and compare it to the price from your survey and the one your appraiser gave you. Tell the owner what your purchase price is and then find a buyer for that house.
