In real estate, when you hear the expression “wholesale price”, be careful. Like many of today’s property scams, the wholesale spiel is a play on words.
Sunday, September 28th 2003, 5:38AM
by The Landlord
“Buy at wholesale not retail,” is the allure. It sounds so good. But in real estate there is no such thing as wholesale and retail prices. There is only the true market price.
The wholesale trick is most common with large developments, such as units and townhouses. The “wholesale company” tells investors that they have “done a special deal” with the developer and, through bulk-buying-power, they can get the property at a wholesale price.
