Short Sale Then Wholesaling Advise
I am from Houston, TX and I want to get into short sales, but I am confused of how I am going to complete the transaction. Say I am buying a house, I only put $10.00 down, I have a contract with the homeowner (where the bank has already accepted a discount)that can be closed within 60 days and I also have a buyer to sell to wholesaling. My question is, how can I close a sale with the bank and turn around and sell to the buyer with no money and get my profit. Do I need to have the buyer sign some kind of contract before I even close with the bank? Does anyone know the laws in Texas ot Harris County! Please help![ Edited by sarahdonnelly13 on Date 01/05/2004 ]
You need to find an attorney that can execute a double closing with you. This will allow you to buy and sell the property at the same closing.