In order to wholesale a pre-forclosure deal; does the Owner need to become current on their payments some how, before they can leagally sell their property? :help
yes the owner should be current on their payment in order to make such deal. u have the power to negotiate deal before the time a notice of default is filled at the local courthouse!
Money, you may want to look into subject to. Catches the payments up and you take over the loan, seller walks with a shiny new credit score. I’m not sure if you could wholesale it this way or not so it may require some cash up front from you.
That may be true, but wouldn’t you be able to wholesale the property if you had a cash buyer in place? If not a lease option is always another option.
No, you can wholesale a pre-foreclosure as is as long as equity is in the property to pay off existing liens and late payments.
For example, you find a property with a retail value of 300k, for 200k and the owner owes 100k plus 15k in late payments, then you can wholesale that property.