- Published 10-22-14
- by admin
What is a Wholesale Property?
Wholesale properties can be homes that owners want to sell, bank owned properties, short sales, estate sales, or fall under other categories. For people who want to sell their properties fast, wholesaling them can be the way to go.
Factors in Determining Wholesale Property Value
The size and condition of the home matters, as does the location of it. Homes that are not in good shape or that are located in unpopular or economically depressed areas will not bring in as much money, even on the wholesale market. Still, that doesn’t mean the person trying to sell the home can’t get a fair price for it. Often, the reason for selling has a lot to do with whether the seller will take the offer.
Reasons to Wholesale a Property
Some sellers are interested in moving to a new area, or to a retirement community. For elderly people, taking care of the home may have simply become too much effort. Some people also sell if they need the money for other reasons, or if they want to travel. No matter what reasons a seller has, wholesaling a home can be a great way to get a fair deal and move a home quickly. Sellers also like this type of deal because they don’t have to make repairs, and if they don’t owe anything on their home, the closing usually happens quickly and efficiently.
Having a mortgage can mean things take a little longer, but it’s still usually faster than a more standard type of home sale. While wholesaling isn’t for everyone, there are great reasons to do it and many ways to make it work. Any seller who is looking for a way to get quick cash and sell a home should consider wholesaling it to an investor and moving on to do whatever he or she has planned for the next adventure.