I know this may be a dumb question but can you wholesale pre foreclosure properties?
Sure you can, but please please please don’t lock the poor home owner into a contract and force him to go into foreclosure if you can’t wholesale it. I’ve seen it happen, and honestly it is sad.
Another way to do that type of deal and not hurt anybody in the process is to just option the property so that the owner understands that you arent making any promise’s that the place will sell.
Fadiz is right, I can’t agree more.
LINE UP YOUR BUYERS FIRST. Build a buyers list. This is CRITICAL. Know their requirements. Know what they like, etc.
Then when you sign up a deal, you know they will buy it.
Remember, if a seller backed out on you, you would be upset. Same goes if you don’t buy the place. Once you put a property under contract, the seller is making plans. they are lining up moving companies, making arrangements with all the utilities, etc. If you back out on them that is just bad business.