Your first wholesale purchase follows a fixed sequence: criteria, financing, list, verify, inspect, close. Investors who respect the order close in weeks; investors who improvise donate their earnest money to experience.
KEY FACTS FROM THIS GUIDE
- Earnest money belongs in title company escrow, never a personal account
- Assignment fees are paid on the settlement statement, or they are not legitimate
- Texas Prop. Code 5.086 requires disclosure of equitable-interest assignments
- An owner title policy covers forgeries, missed liens and chain-of-title defects
Before any deal: criteria and money
Write your box: states, metros, price band, strategy, minimum margin or cash flow. Then make the money real: cash proof-of-funds current within 30 days, or a live pre-approval from a hard money or DSCR lender. Lists reward buyers who can move.
When the alert lands: the 15-minute screen
Run the evaluation from our deal-evaluation guide: verify ARV with your own comps, pressure-test the repair scope, run the formula. Respond fast on pursuing, the inspection period protects the verification, speed protects the opportunity.
Audit us with the 3-question check, then decide. Written numbers, licensed title company closings, zero pressure.
Under contract: use the inspection window
Contractor or inspector through the property within days, sewer scope if pre-1980, PM rent-check if it is a rental. Numbers hold: proceed. Numbers break: withdraw inside the window and your earnest money returns.
Closing week
Wire only to the title company escrow, with details verified by phone. Confirm the deed type and your entity vesting. Recording day: you own it. Then send the wholesaler feedback, buyers who close and communicate see the best deals first.
Join the free buyer list here to get matching deals first, or book a free call and tell us your criteria directly.