Frequently Asked
Questions

A wholesaler like Property Source 505 finds properties from motivated sellers, puts them under contract at a discounted price, and then assigns that contract to a cash buyer, typically a real estate investor. We make our profit from the assignment fee (the difference between what we contracted the property for and what the buyer pays), not from commissions. Sellers get a fast, as-is sale and investors get a discounted property. Everyone wins.

Our offers are typically below retail market value, but that's the trade-off for speed, certainty, and convenience. When you factor in that you're saving on agent commissions (5 to 6%), repairs, closing costs, and months of carrying costs, many sellers find our offers extremely competitive on a net basis. We are always transparent about how we arrive at our numbers.

Absolutely not. We buy properties in any condition, from move-in ready to full gut jobs. In fact, the more distressed the property, the more value we can often offer relative to traditional buyers who require financing contingencies and inspection repairs.

We can typically close in 7 to 14 business days once a contract is signed. In some cases, if you need more time to move or settle your affairs, we can also accommodate a longer timeline. We work on your schedule.

None whatsoever. You pay zero commissions, zero agent fees, and we typically cover closing costs as well. What we offer you is what you walk away with. There are no hidden deductions at the closing table.

This is one of the situations we specialize in. A quick cash sale can stop the foreclosure process and potentially preserve your credit compared to letting the bank take the home. Time is critical in these situations, contact us immediately so we can evaluate your options.

Zero obligation. Submitting your information just starts a conversation. We'll evaluate the property and present you with an offer. You are completely free to decline, no pressure, no hard feelings, no follow-up spam.

Once you register as an investor, we add you to our buyer list. When we have a property that matches your stated criteria (location, price range, property type), we send you a deal package via email. Deals go to our most active and responsive buyers first, so staying engaged is important.

Most of our deals require cash or hard money financing, since our sellers need quick, reliable closes. Conventional financing timelines are generally incompatible with our deal structure. If you use private money or a hard money lender, that's totally fine, as long as you can close within 14 days and are pre-approved.

The assignment fee is how we get compensated. It is the difference between what we put the property under contract for with the seller, and the price you (the buyer) pay. It is paid by the buyer at closing and is fully disclosed upfront in every deal package we send. Typical assignment fees range from $5,000 to $25,000 depending on the deal.

Yes, we always allow walkthroughs. However, deals are typically sold as-is without inspection contingencies built into the contract. We strongly encourage you to walk the property before placing a deposit. Our deal packages include our best estimates on ARV and rehab costs, but you should always do your own due diligence.

Our deals move fast, typically 24 to 72 hours from when we send the package to when we have a signed agreement. If you're serious about a property, reach out immediately. We operate on a first-come, first-served basis among qualified buyers.

We are headquartered in Phoenix, AZ and have strong deal flow across the Southwest. We also work with partner wholesalers in other major markets across the US. When you register, let us know your target markets and we'll connect you with relevant deals wherever they come from.