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.
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
24 entries
Assignment Fee
An assignment fee is how an investor gets paid: the spread between the contract price and the buyer price. See a worked example, real average ranges, and how it shows at closing.
Cloud on Title
A cloud on title is any lien, claim, or recorded interest that makes ownership unmarketable. Learn what causes a cloud on title and how it blocks a clean wholesale close.
Contingency Clause
A contingency clause real estate buyers rely on is a condition that must be met to proceed. Learn inspection, financing, and title contingencies and how they protect earnest money.
Due on Sale Clause
A due on sale clause lets a lender call the loan when a property transfers. Learn the Garn-St. Germain exemptions and what it means for subject-to investors.
Investor Friendly Title Company
An investor friendly title company processes assignments, double closes, and fast closings that retail title firms often refuse. Learn what to look for and how to find one.
Memorandum of Contract
A memorandum of contract in real estate is a recorded notice that clouds title so the seller can't sell out from under you. How it's recorded and the slander-of-title risk.
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
8 entries
Daisy Chain
A daisy chain in real estate is investors re-assigning the same contract to each other, stacking fees until the deal breaks. Learn why it inflates price and how to avoid being the last link.
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
21 entries
Pocket Listing
A pocket listing is an agent-held property marketed off the MLS. Learn how pocket listings work, the NAR Clear Cooperation rule, and what they mean for investors.
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
3 entries
Acquisitions Manager
An acquisitions manager negotiates with motivated sellers, analyzes deals, makes offers, and works to get properties under contract.
Inside Sales Agent (ISA)
An inside sales agent (ISA) is a real estate team member who works the phones on leads the team already has, following up, qualifying, and booking appointments for an outside agent.
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.
FAQ
Glossary questions, answered.
Who writes these definitions?
VA Horizon's team writes them based on how the terms are actually used in real estate sales conversations and contracts, not generic dictionary copy.
How are terms picked for this glossary?
From questions owners and reps actually ask on calls, plus the vocabulary that shows up in vendor contracts, compliance rules, and industry reporting.
What if a term is missing or a definition looks off?
Email youssef@vahorizon.site. Definitions get corrected quickly, and genuinely useful missing terms get added to the index.
What does VA Horizon charge for real estate lead generation?
Real estate pricing is quoted per qualified seller lead, based on your market and buybox. Use the See Your Pricing flow to get your exact per-lead number before you commit to anything.
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.
Recommended next steps