Wholesale real estate glossary

Guides · Scripts · Calculators

ARV

After repair value, an estimate of what a property could sell for after planned work. Support it with comparable sold homes and visible adjustments. Read more

MAO

Maximum allowable offer, a working price ceiling after repairs, costs, buyer margin and a proposed fee. It depends on the inputs. Read more

EMD

Earnest money deposit. See the fuller entry below for why the contract and closing professional control how it is handled. Read more

Earnest money deposit

A deposit delivered under a purchase agreement to show a buyer's commitment. The contract defines its amount, custody and possible return; ask a local attorney. Read more

Assignment

Transfer of a contractual interest to another party, if the contract and applicable rules allow it. The documents and disclosures need professional review. Read more

Assignment fee

The amount a wholesaler may receive for assigning a contractual interest in a deal. Confirm its treatment on the closing statement with the title company. Read more

Double close

Two linked transactions: the wholesaler buys from the seller, then sells to the end buyer. Each closing has its own funding, documents and costs. Read more

Comps

Comparable sold properties used to estimate value. Location, size, condition and features affect how useful each sale is. Read more

Cash buyer

A buyer proposing to purchase without a conventional purchase mortgage. Verify their ability to close and their deal criteria. Read more

JV

Joint venture. Two or more parties work together on a deal under an agreed arrangement; have an attorney review duties and compensation. Read more

Lead manager

The person who sorts new leads, keeps records clean, owns early follow-up and hands qualified conversations to acquisitions. Read more

Acquisitions manager

The person who evaluates seller opportunities, checks offer assumptions, manages negotiations and coordinates the path to contract. Read more

Cold caller

A team member who makes permitted outbound calls, opens conversations, records outcomes and sets or hands off the next action. Read more

Dispo

Short for dispositions: presenting a contracted opportunity to suitable buyers and coordinating buyer diligence and closing steps. Read more

Skip tracing

Research used to find current contact details for an owner. Finding a number does not establish consent or permission to contact it. Read more

10DLC

Ten digit long code, a category of business text messaging number. Business messaging registration and consent are separate matters. Read more

DNC

Do not call. A suppression instruction or applicable list status that a calling team must check and honor under the rules governing its outreach. Read more

TCPA

Telephone Consumer Protection Act, a U.S. law relevant to calls and texts. Ask counsel how the current law applies to your outreach. Read more

Motivated seller

An owner with a reason to consider selling on particular terms or timing. Learn the reason from the owner rather than inferring it from a list label. Read more

Absentee owner

An owner whose mailing address differs from the property address. The record does not establish occupancy, condition or desire to sell. Read more

Probate

A court supervised process for administering an estate in some circumstances. Rules vary; a family should seek advice from its own attorney. Read more

Pre-foreclosure

A period before a possible foreclosure is completed. Status and deadlines depend on the case and location; verify with qualified professionals. Read more

Tired landlord

An informal label for a rental owner considering whether to keep managing a property. Ask about their actual plan instead of assuming distress. Read more

Wholetail

A strategy that typically involves buying a property, making limited improvements or cleanup, then reselling it. Costs and rules differ from an assignment. Read more

Novation

A legal arrangement that replaces an existing obligation or party with a new one by agreement. Its effect depends on the documents and local law; get attorney advice. Read more

Title company

A company that researches title and may coordinate closing and settlement under local practice. Ask it to explain documents and disbursements. Read more

POF

Proof of funds, documentation a buyer may provide to show available money for a purchase. Verify that it is current and relevant. Read more

Purchase agreement

The contract setting out a property purchase's parties, price, conditions and deadlines. Have a local real estate attorney prepare or review it. Read more

Inspection period

A contract defined window for specified property review and decisions. Its rights and deadlines come from the signed agreement. Read more

Closing date

The scheduled day a real estate transaction is completed under its documents, subject to the contract and closing professional's process. Read more

Closing statement

The settlement accounting of charges, credits and disbursements in a closing. Review the actual statement with the title company or attorney. Read more

Holding costs

Expenses while owning or financing a property, such as utilities, insurance, interest and taxes. Include relevant items in offer math. Read more

Repair estimate

A working cost estimate for planned property work. Label what was inspected, what was reported and what remains unknown. Read more

Seller lead

A property and owner record that might lead to a conversation. A lead is not consent to contact or evidence that the person wants to sell. Read more

Lead source

The recorded origin of a property or contact, such as a referral or marketing response. Keep it so your team can explain and assess outreach. Read more

Follow-up task

A dated next action with one owner, tied to what the seller actually agreed to. A task without context is easy to misuse. Read more

Quiet hours

Times when outbound contact should be restricted under applicable rules or your own policy. Check the recipient's time zone. Read more

Opt-out

A request to stop a contact channel. Record and honor it promptly across the team and relevant systems. Read more

Buyer list

Records of buyers and their criteria. A name on a list is not proof that the buyer can or will close a specific deal. Read more

Assignment spread

The difference between a seller contract price and an end buyer price before deal-specific adjustments and costs. It is not automatically the final fee. Read more

Seller finance

A sale structure where the seller provides financing under agreed terms. It raises legal and financial questions that call for qualified local advice. Read more