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A short series of Oddly Specific questions from a newcomer who is still trying to figure out how wholeselling works out of market/non-locally
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Hey there folks. I've gotten interested in this topic the past few weeks and been doing myresearch, but I am still having some mental disconnects about understanding a few important and specific details about how wholesale real estate works if you are not working locally or are interested in markets that are farther away and so cannot do any inperson work.

If you are working in a non-local market, do you just ask the owner to send you photos? What if it is a vacant property or the owner is also not local?

How does the inspecition period work? People keep mentioning it, and I know inspections are important, but who pays the inspector? Or is that just referring to a timewindow for the wholeseller or the buyer to look at the property?

I have looked up some sample templates for the contracts that are needed, but does the title company need to be local to them or local to me or can it all be done digitally, since it would be unreasonable to go to multiple states to get signatures in person? I mean, I know people say it has to be a cash buyer, but can the transactions be digital now as well or does someone have to walk around like a drug dealer with a whole suitcase of money? Because I personally wouldn't be super comfortable with that and would definitely prefer the pictures of check stubs that I have seen in several of these. How does that specific element of the closing part work?

Please chat me if you can, I've got lots more to ask about, but I understand time may be limited. Thank you in advance for all the help and have a great day!

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2 years ago