Recently, one of my listings went under contract with what looked like a great offer—strong price, quick close, all the right buzzwords. My seller was thrilled. But something about it didn’t sit right with me. The LLC name, the unfamiliar voices calling about inspections, and the general lack of transparency… it smelled like a wholesale deal.
Even though my seller wanted to “give it a try,” I made sure to protect them every step of the way:
✅ Requested proof of funds from the actual buyer.
✅ Shortened the due diligence period so the property wouldn’t be tied up.
✅ Kept showing the home and accepting back-up offers.
✅ Required a heftier deposit — enough to make them think twice before backing out.
In the end, my instincts were right — the deal fell apart once the wholesaler couldn’t find an end buyer. But because we had guardrails in place, my seller stayed protected and ready for the next real offer.
Sellers who try to go it alone (“For Sale by Owner”) can be especially vulnerable to this type of buyer. Without an experienced agent, it’s easy to miss the red flags and end up tied to a deal that was never going to close. Or worse, you make your arrangements for your next home (contract, deposit, register for schools, hire movers, etc.), and the deal falls apart right before the expected closing date, leaving you in a lurch.
Lesson learned? A high price isn’t always a good deal, especially when the “buyer” isn’t really the buyer.