Wholesaling Glossary

The Real Estate Wholesaling Glossary

Plain-English definitions of the terms every wholesaler needs, from valuation and contracts to lead generation and disposition. Built by the team that runs these systems for operators every day.

See Real Estate VA Services Use the Tools
80+
Defined Terms
11
Topic Groups
2
FAQ Answers Each
100%
Plain-English
Reference Library

Find the term, then connect it to the workflow

Each glossary page explains the definition, shows where the term appears in a wholesale operation, and links back to related guides, tools, and services.

Call Operations

Call Operations terms

4 entries

KPI Dashboard A KPI dashboard tracks campaign metrics such as dials, connections, leads, appointments, offers, contracts, and deals closed. Power Dialer A power dialer calls one record at a time automatically, giving the caller more control than a predictive dialer but less raw volume. Predictive Dialer A predictive dialer automatically places multiple outbound calls and connects the caller when a live person answers. Voicemail Drop A voicemail drop is a pre-recorded voicemail message left when an outbound call reaches voicemail.
Compliance

Compliance terms

2 entries

DNC Scrubbing DNC scrubbing is the process of checking phone numbers against do-not-call lists and suppression files before outreach. Do Not Call (DNC) Do Not Call rules restrict certain telemarketing calls to numbers on federal or state DNC lists. Wholesalers running outbound campaigns need suppression and compliance processes.
Contracts & Deal Structure

Contracts & Deal Structure terms

18 entries

And/or Assigns And/or assigns is contract language showing that the buyer may transfer their rights in the purchase agreement to another buyer. Assignment of Contract An assignment of contract is the most common wholesale exit: the wholesaler signs a purchase agreement with a seller, then transfers (assigns) their rights in that contract to an end buyer for an assignment fee. Clear Title Clear title means ownership can transfer without unresolved liens, claims, or defects that would block or cloud the sale. Double Close A double close (or double closing) is when a wholesaler actually buys the property and then resells it to the end buyer in two separate, often same-day, transactions, keeping the spread between the two prices. Due Diligence Due diligence is the investigation a buyer performs before fully committing to a purchase, including condition, title, value, repairs, and exit strategy. Earnest Money Deposit (EMD) An earnest money deposit (EMD) is a good-faith payment a buyer puts down when signing a purchase contract, showing the seller the offer is serious. It is typically held in escrow and applied at closing. Equitable Interest Equitable interest is the buyer right created after a valid purchase contract is signed, before legal title transfers at closing. Escrow Escrow is the neutral process or account where funds and documents are held until closing conditions are satisfied. Inspection Period An inspection period is the contract window that allows the buyer to inspect the property and cancel under agreed terms before the deadline. Novation A novation replaces an original contract with a new agreement, often allowing an investor to market the property differently than a simple assignment would. Option Contract An option contract gives a buyer the right, but not the obligation, to buy a property at agreed terms during a specific option period. Purchase Agreement A purchase agreement is the contract that sets the price, terms, contingencies, closing timeline, and obligations between buyer and seller. Seller Financing Seller financing is when the seller acts like the lender and allows the buyer to pay over time instead of bringing all cash at closing. Subject-To Subject-to is a creative finance structure where a buyer takes control of a property while the existing mortgage stays in the seller name. Title Company A title company handles escrow, title search, closing documents, and disbursements so the seller, buyer, and wholesaler can close cleanly. Title Search A title search reviews public records to confirm ownership and identify liens, judgments, mortgages, taxes, or other title issues. Wholesale Contract A wholesale contract is the purchase agreement between the seller and wholesaler that gives the wholesaler control of the deal before assignment or resale. Wholesale Fee The wholesale fee, also called the assignment fee, is the wholesaler's profit on a deal: the difference between the price under contract with the seller and the price the end buyer pays, collected at closing.
Deal Analysis

Deal Analysis terms

3 entries

Closing Costs Closing costs are the transaction expenses paid at settlement, including title fees, recording fees, transfer taxes, escrow fees, and other charges. Deal Analysis Deal analysis is the process of evaluating ARV, repairs, buyer demand, closing costs, timeline, and offer price before pursuing a property. Exit Strategy An exit strategy is the planned way an investor will make money from a property, such as assignment, flip, rental, wholetail, or creative finance.
Disposition

Disposition terms

7 entries

Buyer Buy Box A buyer buy box is the set of criteria a cash buyer uses to decide what deals they want, including location, price, property type, repairs, and exit strategy. Buyers List A buyers list is a database of cash buyers and investors who may purchase wholesale deals. Quality matters more than raw list size. Cash Buyer A cash buyer is an investor who purchases properties without traditional financing and can close quickly. Cash buyers are the end buyers wholesalers assign or sell their contracts to. Disposition Disposition is the process of selling or assigning a wholesale deal to an end buyer after the property is under contract. Disposition Manager A disposition manager sells or assigns contracted deals to cash buyers by matching each property to the right buyer list and managing the closing path. Joint Venture (JV) A joint venture in wholesaling is a collaboration where two parties share roles and split the fee, often because one has the seller contract and the other has buyers. Wholetail Wholetail is a hybrid strategy where an investor buys a discounted property, makes light cleanup or repairs, and resells it quickly, often on-market.
Funding

Funding terms

4 entries

Hard Money Lender A hard money lender provides short-term, asset-based loans commonly used by flippers, landlords, and investors buying discounted property. Private Money Lender A private money lender is an individual or private group that funds real estate deals based on relationship, deal quality, and agreed terms. Proof of Funds (POF) Proof of funds (POF) is documentation, usually a bank statement or a lender letter, showing that a buyer has the cash available to complete a purchase. Sellers and agents often require it before accepting an offer. Transactional Funding Transactional funding is short-term capital used to complete the first leg of a double close, usually repaid when the resale closes shortly afterward.
Lead Generation

Lead Generation terms

20 entries

Absentee Owner An absentee owner owns a property they do not personally live in, often because it is rented, inherited, vacant, or held as an investment. Wholesalers target absentee owners because distance and deferred management can create selling motivation. Code Violation List A code violation list identifies properties flagged by a city or county for maintenance, safety, nuisance, or occupancy issues. Distressed Property A distressed property shows physical, financial, legal, or ownership problems that may make a traditional retail sale difficult. Wholesalers look for distress because it can create discount opportunities. Driving for Dollars Driving for dollars is the practice of physically driving through neighborhoods to spot distressed or neglected properties, recording their addresses, and turning them into a targeted list of potential motivated sellers. Expired Listing An expired listing is a property that was listed for sale but did not sell before the listing agreement ended. Foreclosure Auction A foreclosure auction is a public sale process used to sell a property after foreclosure procedures reach the auction stage. FSBO FSBO means for sale by owner, where the owner is trying to sell without listing through a traditional agent. High-Equity List A high-equity list contains owners whose estimated property value is much higher than their mortgage balance. Equity gives a seller room to accept a discounted cash offer. Inherited Property An inherited property is real estate received through an estate, probate process, or family transfer after an owner dies. Lead Source A lead source is the channel or list type that produced a seller lead, such as cold calling, SMS, direct mail, PPC, probate, or referrals. List Pulling List pulling is the process of building a targeted property owner list from filters such as absentee ownership, equity, vacancy, probate, or tax status. List Stacking List stacking is the practice of combining multiple lead lists and prioritizing properties that appear on several lists at once. More overlap usually means stronger motivation signals. Motivated Seller A motivated seller is a property owner with a pressing reason to sell quickly, often for less than full market price. Finding and qualifying motivated sellers is the core of wholesale lead generation. Off-Market Property An off-market property is a property not publicly listed for sale on the MLS or major listing portals when the investor contacts the owner. Pre-Foreclosure Pre-foreclosure is the period after a borrower has fallen behind and received a default notice, but before the property is sold at foreclosure auction. It can signal urgency, but outreach must be handled with care. Probate Lead A probate lead is a property connected to an estate after an owner has died. Heirs or personal representatives may consider selling if they do not want to maintain, repair, or divide the property. Skip Tracing Skip tracing is the process of finding accurate, current contact information, especially phone numbers, for a property owner so a wholesaler can actually reach them to discuss buying their property. Tax Delinquent List A tax delinquent list contains properties where owners may be behind on property taxes, depending on the county records available. Tired Landlord A tired landlord is a rental-property owner who may want to sell because of repairs, vacancies, tenant issues, management fatigue, or weaker cash flow. Vacant Property A vacant property is not currently occupied. Vacancy can signal cost, risk, or neglect, making it a useful lead source for wholesalers.
Sales Process

Sales Process terms

9 entries

Appointment Setting Appointment setting is the process of booking a qualified seller conversation, walkthrough, or offer call for the acquisitions team. Call Disposition A call disposition is the outcome label assigned after a call, such as no answer, wrong number, not interested, follow up, warm lead, or appointment set. Cash Offer A cash offer is an offer to buy without traditional lender financing, usually emphasizing speed, certainty, and a simpler closing process. Cold Calling Script A cold calling script is the opening and qualification framework a caller uses when contacting property owners who did not request a call. Follow-Up Cadence A follow-up cadence is the planned timing and channel sequence used to re-contact seller leads after the first conversation. Lead Qualifying Lead qualifying is the process of deciding whether a seller conversation has enough motivation, equity, condition detail, and timeline to become a real wholesale opportunity. Motivated Seller Script A motivated seller script is the call framework used to uncover seller situation, timeline, condition, price expectations, and next steps. Seller Motivation Seller motivation is the reason an owner may accept a cash offer below retail value. It is the difference between a conversation and a real wholesale lead. Speed to Lead Speed to lead is how quickly your team responds after a seller shows interest. Faster response improves contact rates and reduces the chance a competitor wins the conversation.
SMS Marketing

SMS Marketing terms

2 entries

A2P 10DLC A2P 10DLC is the U.S. carrier registration system for application-to-person text messaging from local 10-digit numbers. Real estate SMS campaigns need it to reduce filtering risk. SMS Opt-In SMS opt-in is documented permission from a person to receive text messages from a business or campaign.
VA Roles

VA Roles terms

2 entries

Acquisitions Manager An acquisitions manager negotiates with motivated sellers, analyzes deals, makes offers, and works to get properties under contract. Lead Manager A lead manager is the person who follows up with seller leads, keeps CRM records clean, confirms motivation, and moves qualified opportunities to acquisitions.
Valuation

Valuation terms

9 entries

70 Percent Rule The 70 percent rule is a quick investor formula that estimates a maximum offer as 70% of ARV minus repairs and the wholesaler fee. After Repair Value (ARV) After Repair Value (ARV) is the estimated market value a property will be worth once it has been fully repaired and renovated. It is the anchor number wholesalers and investors use to back into a maximum offer. As-Is Value As-is value is what a property is worth in its current condition, before repairs or improvements are completed. Comparable Sales (Comps) Comparable sales, or comps, are recently sold properties similar to the subject property in location, size, age, and condition. Wholesalers use comps to establish a defensible ARV. Comps Radius Comps radius is the geographic distance around a subject property used to select comparable sales for ARV analysis. Equity Equity is the difference between a property estimated value and the debt owed against it. Higher equity gives more room for discounted offers. Maximum Allowable Offer (MAO) Maximum Allowable Offer (MAO) is the highest price a wholesaler or investor can offer on a property and still leave enough margin for repairs, the end buyer's profit, and their own fee. Rehab Budget A rehab budget is the planned repair and renovation spend for a property, usually estimated before a cash buyer decides whether a deal works. Repair Estimate A repair estimate is the projected cost to bring a distressed property to the condition assumed in the ARV and buyer exit plan.

Know the terms. Now build the pipeline.

VA Horizon places trained cold calling VAs and builds the CRM, dialer, and follow-up systems behind every one of these terms. Book a 15-minute call.

Book a Free Strategy Call See Pricing

Internal resources

Keep exploring VA Horizon

Glossary Library

What Is ARV (After Repair Value)? Definition & How to Calculate What Is MAO (Maximum Allowable Offer)? Formula & Example What Are Comps (Comparable Sales) in Real Estate? What Is an Assignment of Contract in Wholesaling? What Is a Double Close in Wholesaling? What Is a Wholesale Fee (Assignment Fee)? What Is an Earnest Money Deposit (EMD) in Wholesaling? What Is a Motivated Seller in Real Estate Wholesaling? What Is Skip Tracing in Real Estate Wholesaling? What Is Driving for Dollars in Real Estate? What Is a Cash Buyer in Wholesaling? What Is Proof of Funds (POF) in Real Estate? What Is Absentee Owner in Real Estate Wholesaling? What Is Pre-Foreclosure in Real Estate Wholesaling? What Is Probate Lead in Real Estate Wholesaling? What Is Tired Landlord in Real Estate Wholesaling? What Is High-Equity List in Real Estate Wholesaling? What Is Distressed Property in Real Estate Wholesaling? What Is Vacant Property in Real Estate Wholesaling? What Is List Stacking in Real Estate Wholesaling? What Is Lead Qualifying in Real Estate Wholesaling? What Is Seller Motivation in Real Estate Wholesaling? What Is Call Disposition in Real Estate Wholesaling? What Is Speed to Lead in Real Estate Wholesaling? What Is Lead Manager in Real Estate Wholesaling? What Is Acquisitions Manager in Real Estate Wholesaling? What Is Disposition Manager in Real Estate Wholesaling? What Is Buyer Buy Box in Real Estate Wholesaling? What Is Buyers List in Real Estate Wholesaling? What Is Transactional Funding in Real Estate Wholesaling? What Is Inspection Period in Real Estate Wholesaling? What Is Due Diligence in Real Estate Wholesaling? What Is Title Company in Real Estate Wholesaling? What Is Clear Title in Real Estate Wholesaling? What Is 70 Percent Rule in Real Estate Wholesaling? What Is Repair Estimate in Real Estate Wholesaling? What Is As-Is Value in Real Estate Wholesaling? What Is Rehab Budget in Real Estate Wholesaling? What Is Equity in Real Estate Wholesaling? What Is Comps Radius in Real Estate Wholesaling? What Is Wholesale Contract in Real Estate Wholesaling? What Is And/or Assigns in Real Estate Wholesaling? What Is Novation in Real Estate Wholesaling? What Is Wholetail in Real Estate Wholesaling? What Is Joint Venture (JV) in Real Estate Wholesaling? What Is A2P 10DLC in Real Estate Wholesaling? What Is Do Not Call (DNC) in Real Estate Wholesaling? What Is Subject-To? Meaning for Real Estate Wholesaling What Is Seller Financing? Meaning for Real Estate Wholesaling What Is Equitable Interest? Meaning for Real Estate Wholesaling What Is Off-Market Property? Meaning for Real Estate Wholesaling What Is Purchase Agreement? Meaning for Real Estate Wholesaling What Is Option Contract? Meaning for Real Estate Wholesaling What Is Exit Strategy? Meaning for Real Estate Wholesaling What Is Cash Offer? Meaning for Real Estate Wholesaling What Is Closing Costs? Meaning for Real Estate Wholesaling What Is Title Search? Meaning for Real Estate Wholesaling What Is Escrow? Meaning for Real Estate Wholesaling What Is Hard Money Lender? Meaning for Real Estate Wholesaling What Is Private Money Lender? Meaning for Real Estate Wholesaling What Is Lead Source? Meaning for Real Estate Wholesaling What Is Motivated Seller Script? Meaning for Real Estate Wholesaling What Is Cold Calling Script? Meaning for Real Estate Wholesaling What Is Predictive Dialer? Meaning for Real Estate Wholesaling What Is Power Dialer? Meaning for Real Estate Wholesaling What Is Voicemail Drop? Meaning for Real Estate Wholesaling What Is DNC Scrubbing? Meaning for Real Estate Wholesaling What Is SMS Opt-In? Meaning for Real Estate Wholesaling What Is Follow-Up Cadence? Meaning for Real Estate Wholesaling What Is Appointment Setting? Meaning for Real Estate Wholesaling What Is KPI Dashboard? Meaning for Real Estate Wholesaling What Is List Pulling? Meaning for Real Estate Wholesaling What Is Tax Delinquent List? Meaning for Real Estate Wholesaling What Is Code Violation List? Meaning for Real Estate Wholesaling What Is Inherited Property? Meaning for Real Estate Wholesaling What Is Expired Listing? Meaning for Real Estate Wholesaling What Is FSBO? Meaning for Real Estate Wholesaling What Is Foreclosure Auction? Meaning for Real Estate Wholesaling What Is Deal Analysis? Meaning for Real Estate Wholesaling What Is Disposition? Meaning for Real Estate Wholesaling What Is an Assignment Fee in Wholesaling? Daisy Chain Real Estate: What It Is and Why Buyers Walk What Is a Cloud on Title in Wholesaling? Due on Sale Clause: What It Means for Subject-To Deals Memorandum of Contract in Real Estate: How It Protects Wholesalers What Is an Investor Friendly Title Company? What Is a Pocket Listing? Definition, Rules, and Pros Contingency Clause in Real Estate: How It Protects Your Deposit