BUYBOX AND CONTRACT TERMS

Does My Deal Qualify?

Before you submit your deal, please be sure it fits our buybox below.

• C+ or better neighborhood
• At least 30% or more equity  
• 2+ Bedrooms
• Over 700 square feet
• No mobile homes
• Homes can’t be adjacent to commercial real estate.  
• No Rural homes - in the sense that there aren't a lot of comps
• No extremely distressed homes -like, fire damage, mold, foundation issues
• No Houses with HOA rental restrictions.  
• Home/property cannot back up to or be adjacent to railroad tracks, junkyards, landfills, gas stations, convenience stores, retail centers, cemeteries, liquor stories, second-generation retail, etc. 
• No Homes in age-restricted HOA communities
• No Homes with solar panels unless the lease has been completely paid off or the seller removes them
• Nothing listed on the MLS (all properties must be off market)
• No vacant lots that are landlocked, agricultural, etc. Vacant lots must be .5-5 acres and zoned for recreational use. These will be accepted on a case by case basis even if they fit this criteria.
• Contract price will be reviewed on a case by case basis depending on the market

What contract terms should my A-B contract have?

• And or assigns after your name in the buyer spot
• We suggest not putting up any earnest money
• 45 day closing
• 14 business day inspection period (expense of buyer)
• Buyer/Seller pay their own closing costs
• Seller handles all back taxes/liens (if applicable)
• As is condition

Please note: these are the main terms we require but we do have a contract that you may use for the A-B side of the transaction. Just reach out to us.

FAQs

most common questions

Can I send you a property before I have it under contract to review?

• No, before submitting properties you must have a written contract with the rights to sell the property.

Can I send a property from another wholesaler?

• No, you must be in direct contract with the original owner. We do not do daisy chain deals. 

Do you sell MLS properties?

• No, the property must not be listed on the MLS.

Do I need to have a lockbox on the property?

• Vacant homes must have a lockbox on the property with working keys.
• Tenant occupied homes do not need a lockbox but must provide access and be submitted with all lease details.

Can I submit the deal before I have photos?

• All submissions should be complete before submitting your deal to include photos and anything else required. Otherwise we will not be able to proceed with marketing.

What if my contract price is too high?

• We will provide you with feedback upon submission. If we believe we cannot sell the deal we will reject the submission and give you the reason why.
• If the price is too high, we will suggest negotiating a lower price with the seller.

What if the offers from Buyers are too low?

• If the buyer's offers are too low based on your contract price, you probably have it locked up too high. This will result in either a renegotiation with the seller, or a cancelation of the deal.

How long does it take to screen my deal and approve my submission?

• On our side, submissions will be screened as quickly as possible but within 24 business hours, so we can get feedback within 3-5 days. We have our Virtual Assistants working from Monday - Friday from 9:00am - 6:00pm (cst) submitting your deals. 

  Submissions made over the weekend will not be submitted until Monday morning at 8:00 am. 

  On each deal submitted, our team will reply and let you know if it was accepted or approved.

How long does it take to get offers or feedback?

• Typically 3-5 days for complete submissions for buyer feedback/offers. This will vary depending on access and buyer's schedules.

What's the profit split?

• We will send you a JV agreement once we approve your submission.

• The profit split is 50/50.

Delegation of Roles/Responsibilities

who does what?

Lead Generation / Acquisitions (YOU)

• Finding closing attorney to work with
• Generating leads  
• Qualifying leads 
• Communication with sellers 
• Filling out Disposition template
• Doing Quality Control checks before contracting properties (ensuring you get verification that you are talking to the owner of the property and they are the only signer required, etc)
• Sending ONLY directly contracted houses and NO DAISY CHAINS. You must be in direct contract with the seller.
• Making offers to sellers 
• Getting houses under contract
• Signing BC contract with Buyer (Double Close)
• Sending all details of the property
• Sending us the lockbox code (lockboxes are required for vacant houses)
• Sending us the photos of the property
• Sending us a good seller contact in case there are questions
• Getting all necessary documents from seller when submitting closing documents to transaction coordinator (see closing checklist)

Dispositions / Transaction Coordination (US)

• Submitting properties to Buyers
• Providing Client with post contract offers  
• Tracking submissions / counter bids / metrics / profit 
• Database management
• Managing buyers
• Scheduling and confirming all walkthroughs with buyers
• Collecting new buyers to target
• Sending contracts to B-C parties for signature
• Sending signed contracts to the title company that you provide and opening escrow
• Continued communication with the buyer
• Handling the entire Transaction Coordination Process from start to finish
• Working with the title company to arrange notaries if needed