Two Quick Questions On Wholesaling
Hi,
I have two fairly simple questions for you real estate wholesalers out there. First, how do you go about getting the 30 or 60 days to assign the contact to someone else (when buying my original house they gave us 3 days to review and finalize the contract). Also, do you have to pay a down payment or deposit before you get the X amount of days to assign the contract to someone else. Basically I guess the question is what are the out of pocket expenses for the person doing the wholesaling? Thanks for your time
Everyone wholesales differently.
We find the deals, pay for them, and then sell them to a landlord, rehabber or an investor. All with non-refundable binders and 30 days to close or lose your binder.
Others assign contracts and call it wholesaling. To each his own.
[addsig]
dnvrkid,
I have been told that all contracts are assignable unless the contract language specifically prohibits assignment.