Buying a house from a wholesaler is a great way to find a great house at a great price! Learn about the pros and cons of working with a wholesaler in our latest post!
When buying a house in Detroit, typically only investors look to professional wholesalers to find the right properties. However, wholesalers can help anyone find a house at a tremendous discount. Whether you are a real estate investor or just a savvy buyer looking for a deal on a property of your own, working with a local property wholesaler should never be overlooked.
Pros of Buying A House From A Wholesaler In Detroit
When you work with a wholesaler to buy a house in Detroit, you will be able to find and buy a house that is well below retail. A wholesaler knows how to find the best off-market properties long before they are available to the general public.
Working with a wholesaler makes the transaction seamless. They will know how everything works, keeping both you and the paperwork prepared for the closing. When you buy a house from a wholesaler, everything is done for you so you don’t have to worry about any complicated transactions or hidden fees. The right wholesaler will handle the entire process while answering all of your questions.
Multiple Properties Available
Detroit wholesalers will typically have multiple properties available at any given time. These properties tend to move quickly as most wholesalers have regular investors that they work with. If you find the perfect property available from a local wholesaler, don’t hesitate! The best deals will be snatched up right away! If the property doesn’t have a property available that you are interested in, let them know what you are after, and they will usually be able to find it for you. Imagine finding your ideal property without having to do any of the work yourself!?
Experience & Analysis
An experienced wholesaler will know what makes for a good deal, as well as how to acquire them. They will have local market experience, providing you with information you may not have had otherwise. They will conduct an in-depth analysis of properties before offering them to buyers. This analysis will look at the property from all angles, providing you with all the numbers you need for a property before making your purchase. An experienced wholesale can be invaluable to you as an investor building your portfolio in Detroit.
Cons of Buying A House From A Wholesaler In Detroit
When buying a house from a wholesaler in Detroit the process will usually move pretty quickly. You will need to have the funds available right away, without having to deal with the banks or go through the approval process. You may not have the same time to weigh your buying decision as the best properties aren’t available for long.
Typically the sellers that are working with wholesalers to sell their homes are looking for a fast closing. When banks and lenders get involved, the closing date can be pushed back, with the looming possibility that the lender will pull the funds at the last minute. That said, some wholesalers will work with people using financing, just remember you will likely be competing with buyers who have the cash in hand to close on the property right away.
Whether you are an investor or private buyer, paying cash or using financing, our team will work with you to find the best deals on the best properties. We will handle everything, ensuring you a great deal on your next Detroit house!