What is the Maximum Time to Wholesale Houses?

What is the Maximum Time to Wholesale Houses?

One thing to consider when you wholesale houses is the amount of time you need to close the deal. You know for a fact that the duration differs from one deal to another. There are so many factors that affect the process of buying properties so you need to carefully plan the transaction. Remember, your goal is to sell fast to earn fast.

In general, the period of the transaction usually depends on the three important people involved in wholesaling houses the seller, wholesaler, and the buyer. The process immediately starts if you have a motivated seller. A motivated seller wants to sell his house ASAP. If the seller needs to dispose the property right away, you have no problem looking for him. He finds you. All you need to do is to check your email everyday. Always carry your phone anywhere you go. Have a good advertising strategy. Let every person know that you wholesale houses. If everyone in town knows you, a good deal awaits you every morning.

A wholesaler like you must act fast once he gets a call from a motivated seller. Now, if you already have a buyer even before the seller calls you, it is possible to close the deal in as fast as one week. That is the best thing about making regular updates on your buyers' list. It makes quick closes possible. If in case you still have no buyer, but you are 90% sure that someone from your contacts would buy the property, you can put up to 30 days in the contract. You can have ample time to look for a motivated buyer. You can advertise more. You should also talk more to the home seller assure him that the transaction is still on going.

There are times when you come across a property that is not in your area. Since you are new to that place, you also need to target new markets. When you wholesale houses in an area you have never invested in before, you need more time to check the property. Seeing the property yourself gives you a clearer picture of the transaction you are into. You can put in the contract that you have up to 45 days to closing date. You can use this time to let the home seller move into a new place. You also have time to try to negotiate the price of the house. Processing the necessary documents is also important. If you think 45 days is not enough, you can extend it. Just make sure that you inform the seller about it.

There is no exact time frame in closing deals. It's important for wholesalers like you to experience the transaction first hand so you can really assess the situation and make crucial changes if needed. Just always remember that when you wholesale houses, your goal is to make money, to help the home seller, and to make the wholesaling process a success so you can try working on another deal. Always find a new deal after the other.

Time is important in real estate investing so you should start now. Know where to start. Visit REIWired.com now!

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