Getting your buyer into see the house is usually thought to be the trickiest part of the wholesaling process. Some of the wholesale deals you’ll get will have a tenant or the seller occupying the property. This poses a problem. How do you show the property without the tenant/owner getting upset?
Or even worse, the seller talks to your buyer and clues in that you’re flipping the house for a much higher price.
Here’s where it can get ugly. Let’s say the buyer and seller meet and they decide they don’t need you and they swiftly cut you out of the deal.
So what can you do? Well it all starts with “positioning”. It all starts with what you say and how you say it to the seller when you FIRST sign the contract.
You gotta say this at the time of executing the contract: Ok Mr Seller, here’s what’s going to happen next.
For us the have a smooth and timely transaction with no delays we as a company have to get our file in order.
For this to happen, we have to get some renovation quotes and get a few money partners to view the property.
Once the file is complete and we get a clean title report we can close the deal.
So what are the best times to make this happen for you? Or should we communicate directly with the tenant to make this happen? Or can we put a lockbox on the house?
The seller will give you several alternatives and you can make arrangements.
Now, what happens the day of the showing?
Good question, the seller is prepped, now you must prep the buyers.
Here’s what you say:
“Alright Mr Buyer, I’ve got you scheduled for tomorrow at 3pm. Please be aware that the seller/tenant will be at the property. If you could hold any questions about terms and pricing until we are alone outside I would appreciate that. Is that something you can agree too?”
They will say yes, but you want to get an agreement from them so they’re clear and understand the importance.
Saying these few words to buyers and the seller sets the tone of what’s expected.
You’ll have a smooth transaction with no unexpected turmoil, prevent buyer circumvention, and have a happy seller at closing.