Questions to Ask When Wholesaling Real Estate
Strategic questions to ask when wholesaling real estate to ensure successful deals, proper due diligence, and profitable transactions.
1What is the current market value of this property?
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What is the current market value of this property?
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Why this works
Establishes baseline for pricing and helps determine if the deal has potential for profit margins.
2Why are you selling this property?
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Why are you selling this property?
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Why this works
Reveals seller motivation and urgency, which can impact negotiation leverage and deal timeline.
3What is the condition of the property and what repairs are needed?
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What is the condition of the property and what repairs are needed?
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Why this works
Helps assess repair costs and determine if the property is suitable for wholesaling or needs too much work.
4How long has this property been on the market?
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How long has this property been on the market?
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Why this works
Indicates market demand and potential issues with the property that may affect its wholesaling potential.
5What are the property taxes and any outstanding liens?
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What are the property taxes and any outstanding liens?
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Why this works
Essential for calculating total acquisition costs and ensuring there are no hidden financial burdens.
6Are there any tenant issues or occupancy concerns?
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Are there any tenant issues or occupancy concerns?
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Why this works
Reveals potential complications with property access, eviction needs, or tenant-related problems.
7What is the neighborhood like and are there any planned developments?
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What is the neighborhood like and are there any planned developments?
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Why this works
Helps assess property value potential and market trends that could affect the wholesaling deal.
8What is your timeline for closing this deal?
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What is your timeline for closing this deal?
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Why this works
Determines if the seller's timeline aligns with your wholesaling process and buyer needs.
9Have you received any other offers on this property?
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Have you received any other offers on this property?
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Why this works
Reveals market competition and helps you understand how to position your offer effectively.
10What is the rental history and potential rental income?
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What is the rental history and potential rental income?
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Why this works
Important for end buyers who may be interested in rental properties or investment potential.
11Are there any environmental issues or property violations?
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Are there any environmental issues or property violations?
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Why this works
Identifies potential deal-killers early and helps assess risk factors that could affect the transaction.
12What utilities are available and what are the average monthly costs?
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What utilities are available and what are the average monthly costs?
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Why this works
Helps end buyers understand ongoing costs and ensures all necessary utilities are accessible.
13Is the property in a flood zone or have any natural disaster risks?
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Is the property in a flood zone or have any natural disaster risks?
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Why this works
Critical for insurance costs and end buyer concerns about property safety and insurability.
14What is the zoning classification and are there any restrictions?
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What is the zoning classification and are there any restrictions?
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Why this works
Determines property use limitations and potential for future development or changes.
15How flexible are you on the asking price?
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How flexible are you on the asking price?
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Why this works
Tests negotiation room and helps determine if there's enough margin for wholesaling profit.
16What is your preferred closing method and timeline?
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What is your preferred closing method and timeline?
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Why this works
Ensures the closing process aligns with your wholesaling strategy and end buyer requirements.
17Are there any HOA fees or special assessments?
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Are there any HOA fees or special assessments?
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Why this works
Reveals additional ongoing costs that could affect the property's appeal to end buyers.
18What is the property's history and have there been any major issues?
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What is the property's history and have there been any major issues?
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Why this works
Helps identify potential problems that could affect the wholesaling deal or end buyer interest.
19How did you determine your asking price?
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How did you determine your asking price?
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Why this works
Reveals the seller's pricing methodology and helps you understand their expectations and flexibility.
20What would make this deal work for you?
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What would make this deal work for you?
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Why this works
Opens discussion about seller priorities and helps you structure an offer that meets their needs.
Best Practices for Real Estate Wholesaling
Expert tips and techniques for getting the most out of these questions.
Due Diligence Process
Verify All Information
Always verify seller claims through independent research, property inspections, and market analysis.
Assess Market Conditions
Research local market trends, comparable sales, and neighborhood conditions to validate property value.
Calculate All Costs
Include all acquisition costs, repair estimates, holding costs, and selling expenses in your analysis.
Negotiation Strategies
The Value-Based Approach
Common Pitfalls to Avoid
Overpaying for Properties
Always ensure there's enough margin for profit after all costs, including repairs, holding, and selling expenses.
Skipping Due Diligence
Never skip property inspections, title searches, or market analysis - these can reveal deal-killing issues.
Poor End Buyer Relationships
Maintain strong relationships with cash buyers to ensure you can quickly sell properties you contract.