I’m looking to wholesale a REO property. The numbers look good so far and I’m about ready to make an offer. There’ one thing though, the Realtor says that you have to be pre-qualified with Countrywide to do the deal. Since I plan on wholesaling this deal are there any alternatives if I’m unable to personally qualify with countrywide?
PLEASE HELP!
Thanks
I’ve seen this requirement before from banks. I beleive they have done that to help eliminate what you are trying to do. Typically an REO will not let you have an assignable contract with them and making you qualify through them takes it one step farther.
In order to do this deal you will need to qualify with them and then do a double-close. It’s a lot of coordination, might just be better to find another deal.
Seems to me that you should be pre-qualified with whoever you want. If the Realtor is the listing agent for Countrywide, then they’re in cahoots!