Wholesaling Listed Props
If i get a good deal on a listed property (private owner, listed with realtor) and I wanted to wholesale it, what would you folks recommend? Are we back to the old "and/or assigns" thing or is there another way - put the contract in escrow, assign escrow? How would you do this? JohnCl
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JohnNT:
You have two options, you can either open up escrow as an assignment and assign your escrow and collect your fee.
Or, you can close in your name, grant deed to your wholesale buyer, collect your fee and have them assume existing financing from your hard-money lender or private investor.
Best Riches,
Jeff Adam
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Are you trying to avoid the "and/or assigns to" wording?
If so, why?
This is pretty simple and quite effective...
Be careful trying to do this with a realtor, thoguh, its not always allowed.
Good Luck!
[addsig]