Rich Dolson-Coldwell Banker Preferred Realtors

06/07/2025

02/19/2025

New listing alert!

03/21/2024

Stop by and see us!

11/03/2023

Check out this Gem!

09/21/2023

The Market is still
Popping! Plenty more where these came from

03/08/2023

PLEASE READ..Long read but worth it

We have all received a million texts from people wanting to buy our house right?
You need to educate yourself about "Wholesaling".

The majority of the people practicing this form of purchasing homes never intend on purchasing your home.
A wholesaler enters into a contract with a sell for a price as low as they can possibly negotiate under fair market value. This contract always has a provision that they can assign this contract to someone else. Then, they market your home to others at a higher price than you agreed to sell it to them for. Their profit is made by the spread between the 2 prices. This is legal as long as there is full disclosure. I find it common that the seller has no idea they have been wholesaled.
Let me give you an example;

A few years ago I had a wholesaler offer an investment client of mine a house in Burlington County for $90,000. He sent me out to look at the home. I confirmed with him that it was a great deal at 90k. I told him we could fix it up and sell it for around 240, But we could just clean it up and sell it for 140 ish.
My client agreed to buy the house at 90k. The wholesaler had a contract for 50,000 with the owner of this house. He then has my buyer sign and assignment of contract for 90k. No realtors are involved so no comission is paid. So the this property goes to closing. The owner of the home gets 50k and the wholesaler gets 40k!
My client them cleans the house out, cuts grass and spruces up a bit and spends 6500 to do so. We listed on MLS for 140k and he got 130K. My client after paying his closing costs and clean up bills nets around 24k. Not bad for a few weeks work
But, lets think about this. What was the fair market value of this house?
With only $6500 worth of work, this house still sold As-Is for 130k.
SO... if the original owner called a real estate agent instead of doing a deal with a wholesaler, the agent would of given him the appropriate value and received approx 114k instead of 50k even paying a full commission of 6%.
So tell me, are we worth our 6%?????

This is an average case. Not an extreme case. Call an AGENT! Even if its not me, call an agent. We are bound by our code of ethics to give you the fair market value

Please Share to your loved ones. Our homes are our biggest assets

12/17/2022

This Gloucester City Twin is back on the market due to buyers mortgage denial. This home is first house next to Proprietor's Park and has one of only true river views from the rear of the home in the city. Invest in the Waterfront!

12/09/2022

Great article. However I don’t like the word “Cheap” used. It’s should say Gloucester City is the best value in New Jersey!

It offers a tight-knit community and plenty of public parks