Hi Allison! This is a superb article! I am new to Wholesaling, but I am not new to Real Estate. My question is concerning the appraisal. At what point in the transaction does the Wholesaler conduct an appraisal? I am assuming that when a Wholesaler meets with a motivated seller with a contract that they will have the price that they want the motivated seller to sell the property to the Wholesaler for. Do I need to have an appraisal done before or after meeting the motivated seller? I do understand that if I have a buyer that they can conduct their own appraisal. So can you please give me a lucid explanation of when the Wholesaler would conduct the appraisal? Thanks!
Appraisals are optional for wholesalers, but if you’re going to do one you should wait until after you have the property under contract. Otherwise, you may end up spending money appraising a house you can’t successfully negotiate on.
If you’re just starting a fix-and-flip business, you might want to read “How to Start Your Own House Flipping Business in 6 Step” for some helpful tips.
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.