All guides · Terms · Free calculators · Seller scripts
1. Find sellers you can contact appropriately
Start with a defined area and a way to keep records. A list might come from your own marketing, referrals, public records or a drive through neighborhoods where you take notes about properties. The source tells you where an address came from; it does not tell you that the owner wants an offer or that you have permission to call or text. Check the outreach rules that apply to your channel and location, maintain do-not-contact records and be ready to explain the source of a number. The driving for dollars page describes how to keep an address tied to a place and verify it later.
Quality matters more than making a list look large. Confirm the parcel, owner name and current contact detail as far as you can. An absentee mailing address may be a useful research clue, but it is not proof that the owner is distressed. A rental can be a healthy investment. A probate record may relate to a family that is not ready to discuss anything. Segment records by what you actually know. The glossary entry on skip tracing explains what finding a contact means; it does not substitute for contact permission.
Give each record a source and a next action. If you cannot answer why the property is on your list, do not add it to an automated outreach sequence. Keep a suppression process that the whole team can see. OfferDesk puts contact, property, call history and task on one record. The CRM setup guide shows how to define stages and ownership before importing a batch.
2. Start the call and learn the seller's goal
The first call is an invitation to talk. Identify yourself and your company, name the property and ask whether it is a good time. If the owner is open, learn five things before you try to name a price: what property you are discussing, its condition, why a sale might make sense, the timing and the seller's number if they have one. The cold calling script gives exact language and explains the purpose of each line. Use it as a prompt; change the order when the seller's answer leads somewhere more useful.
Different situations need different questions. An absentee owner may not know current interior condition. A landlord may care about a tenant and access. A family handling an estate may need time and professional advice before a sale is even a topic. Do not turn these labels into claims about motivation. Ask what they want, note what is uncertain and stop when they say to stop.
Be plain about your role. If you intend to buy, say so. If your plan could involve assigning a contract, explain that process accurately when it becomes relevant. Do not imply you are a broker or the end buyer if that is not true. The realtor objection and what do you do with it pages help prepare a clear answer. If a seller asks for a written offer, first confirm the property facts and terms they expect.
End every live call with an agreed next action: a visit, a call after you review comparable sales, a written summary or no further contact. A lead is not “warm” just because somebody spoke to you. It is workable when the record says what happened and who is doing what next. Use a follow-up script tied to the promise. If nobody answers, the voicemail script is intentionally short. Text only where allowed, with clear sender identity and opt-out handling; see the text scripts.
3. Check the property before you trust the numbers
After repair value, or ARV, is an estimate of what the property might sell for after the planned work. It is not the price of the current house and it is not a guarantee. Look for recent comparable sales with similar location, size, condition and features. Check what those houses actually sold for, not only asking prices. The ARV calculator helps you record the sales and adjustments so you can inspect the reasoning later.
Repairs deserve their own estimate. Write down what you saw, what the seller described and what still requires access. A rough allowance might help screen a lead, but a roof, foundation, system or permit issue can change the deal. Use the repair cost calculator to organize categories, then get a qualified local estimate where the decision depends on it. If the property is occupied, plan access through the owner and the applicable process. Do not promise a buyer that an inspection has happened when it has not.
Verify other deal constraints too: ownership, liens, taxes, occupancy, title issues and any known deadline. A title company and attorney can help determine what is actually in the record and what must be resolved. Do not guess at legal outcomes from a call. When something is unknown, label it as unknown in the offer worksheet. A number that depends on a clean title and vacant delivery is not the same as an unconditional offer.
4. Work backward from a buyer's price
A maximum allowable offer, or MAO, is a ceiling based on assumptions about resale value, repairs, transaction costs and the margin your buyer needs. The common shorthand is ARV times a percentage, less repairs and a proposed assignment fee. The MAO formula guide explains the 70% rule and why a fixed percentage can mislead. The free MAO calculator shows each input, including costs, instead of hiding the formula.
Suppose your supported ARV is $240,000. You estimate $35,000 in repairs, $12,000 in carrying and selling costs, a buyer margin of $36,000 and a possible $10,000 assignment fee. A simple buyer price ceiling is $240,000 minus $35,000 minus $12,000 minus $36,000, or $157,000. The proposed seller contract price would be $147,000 after subtracting the $10,000 fee. These are example assumptions, not a quote to a seller. If repairs rise or the comparable sales change, the offer must change. Do not treat a formula as permission to promise a close.
Check whether the number fits the seller's goal. Some owners value convenience, certainty or avoiding repairs. Others are trying to maximize price and may prefer listing. You can explain what your proposed offer includes and what it does not. If the seller says your number is low, the price objection is a prompt to review the underlying facts, not a trick to make them accept less. A deal works only when the seller understands the terms and chooses them.
5. Have a local attorney review the contract
A purchase contract generally identifies the parties and property, states the purchase price and deposit, describes the closing date and conditions, allocates important costs and says what happens if a condition is not met. For a wholesale transaction, whether an assignment is allowed, how it is disclosed and how earnest money is handled can matter. The exact language and legal effect depend on the place and transaction. Use a local real estate attorney to prepare or review the agreement before anyone signs. This guide does not provide a contract template or legal advice.
Read every term you propose. Make sure the seller knows whether you are buying for yourself, may assign your interest or expect another closing structure. Do not say a property is “under contract” until both sides have actually signed what is required. Keep deadlines on a calendar and in the deal record: inspection, deposit, title review and closing. If you cannot meet a deadline, raise it early with the professionals handling the transaction.
Earnest money deposit, or EMD, is money delivered according to the contract to show the buyer's commitment. Its amount, custody and return conditions are contract questions. A title company or attorney should tell you how that specific closing handles it. Do not collect or move funds based on a script. The glossary gives a plain definition so you can ask the right questions of your professional.
6. Find a buyer who can actually close
A buyer list is useful only when you know what each buyer wants and can verify they can perform. Ask about areas, property types, repair range, occupancy preferences, price range and the way they evaluate deals. Confirm proof of funds or other credible capacity through appropriate channels. Do not promise a seller that a buyer is ready because their name is on a spreadsheet. A cash buyer can still need diligence, and a fast verbal yes is not a closing.
Prepare a factual deal packet. Include the property address, photos you have the right to share, known condition, access rules, comparable sales, your repair assumptions, occupancy facts and key contract dates. Label every estimate. If you have not inspected, say so. Do not publish a tenant's private information. Let buyers run their own numbers and ask questions. The assignment fee calculator shows the gap between contract price and buyer price, while the assignment fee guide explains how a fee may appear at closing.
When a buyer pushes back, inspect the claim. They may see higher repairs, a lower ARV or a closing constraint you missed. Revise the worksheet if the evidence supports it. If the numbers no longer work, do not pressure the seller to rescue the deal through a last-minute reduction. Discuss options honestly with the seller and professionals involved.
7. Understand assignment and double close at a high level
In an assignment, the wholesaler transfers their contractual interest to another buyer under an assignment agreement, where the original contract and local rules permit it. The end buyer typically closes with the seller, and the wholesaler's fee is documented through the transaction. That is a plain description, not a statement that assignment is available or appropriate in every deal. Ask a local real estate attorney and title company how it works where the property sits.
In a double close, the wholesaler buys from the seller in one transaction and then sells to the end buyer in another. That creates two closings, separate documents and additional funding and cost questions. It can be used for reasons that differ by deal, but it is not a way to avoid required disclosures or rules. Work through timing, funding and closing costs with the title company and attorney before you promise it. Neither structure makes a weak deal strong.
Which path fits depends on the contract, buyer, seller, funding, title and local requirements. Do not use a canned flowchart as legal advice. Your operational job is to keep both parties informed, deliver accurate documents to the closing professional and track the dates. The glossary and assignment fee guide give language for the discussion.
8. Close, document and learn
A title company or attorney coordinates the closing documents and funds according to the transaction. Before closing, confirm the parties, property, price, fees, credits, deadlines and remaining conditions with them. Review the settlement statement rather than assuming it matches a text thread. The seller should understand what they are signing, and each party should get legal advice from their own professional when needed. If a problem appears, communicate it quickly; silence makes a preventable delay harder.
After closing, mark the record closed, attach the actual final numbers and note what changed from the original estimate. If the deal does not close, record why without blaming the seller by default. Was ARV optimistic? Were repairs missed? Was buyer capacity unchecked? Did follow-up lapse? These questions improve the next acquisition more than a raw count of calls. OfferDesk keeps the contact, notes, tasks and deal state together so the desk can review the path.
From the desk
I have been on seller calls since 2021, and the practical lesson is that a clear next action is worth more than an impressive sounding pitch. When a seller describes the house, I want the next person on the team to know which facts came from the seller, which were checked and what we promised to do next. Our published call statistics show the desk's measurement method; they are not a claim about what a new wholesaler will earn or close.
Start with one lead and take it through the whole path: source, permission to contact, call note, property check, offer worksheet, professional review, buyer diligence and closing. Use the scripts hub for the conversation, the calculator hub for assumptions and the desk setup guide for ownership. Then ask what you could explain clearly to the seller at each step. That is the work.