Can He Contact The Owner Of Property?
I know the practice of dual closing is dead. In some states, it is illeagal. In some states, it is not illegal, but mortgage professoionals and closing attorneys will not touch it. So why are the wholesalers still trying to sell the properties that they don't even own.
We are trying to help somebody who was buying his first investment property. He really thought he was buying this property from this investor. The purchase contract says that the investor is the only one who legally and physically owns this property, and he is the seller. He lied. He does not and he never owned this property. How in the world he even thought we would not find out? He totally faked that he was the lawful owner of the property. The guy who we are trying to help already gave this investor $1000 earnet money. I hope he can get the money back. We wish he talked to us before putting down the earnest money. He told us about it after the fact.
If he still wants this house, can he contact the acutal owner of the property?
It sounds like this investor has the property under contract. You could contact the owner but he may be unable to get out of the contract. Good luck.