Newbie Question

I am looking to get my first wholesale deal under my belt. Is it possible to wholesale a pre-foreclosure. If so do i need to go through the lender as if it was a short sale. Could anyone walk me through the process.

Comments(1)

  • sanjosee15th April, 2005

    If the house is in "pre foreclosure" ., and you want to wholesale it, you need to deal with the current owner & get control of the Deed. Either by putting the property under contract or buying it outright then reselling it.

    If it is a short sale opportunity, you still need cooperation of the homeowner before you can approach the lender with the proposed short sale.

    Not all pre- foreclosures are short sale candidates.

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