Guidelines for Wholesale Transactions
TopazWholesaleProperty.com (hereinafter TWP) is committed to providing quality property investment opportunities to our clients. To that end, we have compiled our business practices in this document.
- If we have multiple full-price (or higher) offers within the first 24 hours, we will ask for highest-and-best.
- The only offer we will accept within the first 24 hours is a full price offer.
- If we have no one interested in a property within 24 hours of the initial email blast then we will consider lower offers and/or lowering the price and resending it out.
- If we know that we will not be accepting an offer prior to a certain date (e.g. access issues limit showing availability), this will be clearly communicated to Buyers in advance.
- We accept offers contingent upon inspection from previous Buyers only, and EMD must be deposited prior to Inspection to demonstrate commitment.
We love working with Realtors! Realtors may market the property to their clients at whatever price they are able to obtain. The spread is their profit, or “commission” on that transaction. The exception is if our property happens to be listed on the MLS in which case a commission will be paid.
Access & Inspections
- All transactions are “as-is”.
- Buyers must respect our access instructions, especially to not disturb occupant if so instructed.
- Buyers are expected to be professional buyers capable of assessing and making an offer with one walk through, generally 15 to 30 minutes in duration.
- Access to the property is NOT permitted without contacting our office.
- Lockbox code (for vacant properties) will be changed on acceptance of the signed offer.
- Buyer access to the property after contract acceptance and prior to close is a courtesy and is not guaranteed.
- Under no circumstances is the buyer to contact our client, the property Seller, directly.
- Our office will coordinate all access arrangements and any communication between Buyer and Seller.
- Buyers must do all their due diligence prior to signing a contract and their earnest money is non-refundable immediately (unless the contract specifically has an inspection contingency).
- We reserve the right to require that the buyer inspect the property. This avoids issues with the buyer taking “our word for it” and being upset later.
- We will not disclose another buyer’s offer price in an attempt to “bid-up” a property.
- No deal is binding until a written contract is signed by both parties and earnest money is received by us or the designated title company.
- No assurance shall be provided to a buyer that “they have the deal” until a signed contract with earnest deposit is received.
- Our office must respond to any written offer within 24 hours or less.
- We reserve the right to accept or reject any offer up to the point that a written contract has been signed by us.
If there are any questions regarding this wholesale policy you may contact us with the information on our contact page.
Glendale, AZ USA