The sole role of a wholesaler is to act as a middle man who establishes a connection between you, the seller and the purchasing party. Most of the time, these wholesalers do not buy the property themselves. They will match you with a competent house-flipper or an investor and finalize a deal.
The other party is the one buying your house. Wholesalers make money by taking a portion of the final selling price as commission for their services. To put things into perspective, let’s consider an example scenario.
Let’s say a wholesaler offers you $350,000 for your house, and you accept the offer. The wholesaler will put your house in the listing and pass it through a network of investors at an increased price. After finalizing the deal, you get the amount you want, and the wholesaler makes a profit.
You might have come across several adverts or signs saying contact us to sell your home quickly. These are mostly attached to the sides of a road or near telephone booths. These signs do not always direct you to a wholesaler, but they can act as a good lead.
You can even ask around to get leads from a real estate agent. Ask them basic questions regarding how they will sell the property, whether they work as a middle man, and any other questions you have in mind.