and when u write the offer can it be a letter of intent or should it be a state contract? can you work it with the listing agent?
If your asking can you use the MLS to wholesale contracts? Not really, because to list a home on the MLS you need to own it…
If you asking can you wholesale bank owned homes that you bought off the MLS? Heck yeah…Though most bank owned homes won’t allow assigning…
In which case I would suggest preparing several pocket llc’s ahead of time, then put the home into the llc when you purchase, then instead of collecting your fee for assigning the contract, you collect your fee for selling the llc.
Good luck
ok great eric thanks i think that makes it clear…
eric now i am getting diff feedback ? what do u think?
1.)If the offer is made to a licensed agent, that agent will almost definitely require you to use a standard state contract. You can still wholesale the deal if you either put an assignment clause into the contract, or if you add “or assigns” to the purchaser’s name.
2.)absolutely!..you don’t have to go through all the land trust rigmarole because the seller doesn’t care who buys it as long as they get paid…get it in escrow, find a buyer, then tell escrow you need to assign it…98% no seller will care…if they do care, then be prepared to show them that your new buyer is qualified.
3.)Of course you can wholesale NON REOs, they are even easier to wholesale than REOs because a regular seller does not care if you change vesting like the bank does. The reason we focus on REOs is because they are plentiful unlike other sellers with equity.
I wont relist it on the mls just try to sell it wholesale on craigs list will it work?