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Forums » Wholesaling » Wholesaling REO contract to end buyer???

Wholesaling REO contract to end buyer??? Subscribe to Wholesaling REO contract to end buyer???

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Tag Tags: wholesaling-reo-contract


Dave Smih

· Beverly Hills, California


No_avatar_forum_avatar

Oct 31 '11, 06:20 PM

ok so I have a property under contract and I have and end buyer what contract do I use to get the end buyer locked up. and will this contract be the same if i want to assign it or quit claim it. any info would greatly help me I want to secure a deposit and I need to know how to handle this and seem professional in doing so.

thanks you guys are great and have helped me so much already


James Hiddle

Real Estate Investor · Altus, Oklahoma


Forum_avatar_avatar-mr_investor

Oct 31 '11, 09:13 PM

Did your contract specify you can assign the contract? Banks add a no assignment clause to their contracts as they don't want anyone to wholesale the property.


Dave Smih

· Beverly Hills, California


No_avatar_forum_avatar

Oct 31 '11, 10:17 PM

You are correct but I need to know what contract and what wording to use when locking up an end buyer for a property. I gave a bad example above but won't the end buyer contract be similar regardless of the closing strategy?


Keith Saunders

Real Estate Investor


Forum_avatar_avatar-k6saunde

Oct 31 '11, 11:51 PM

Really need more info about your deal. Who is the contract with?
A home owner or a bank?
Do you want to assign it?
If so are you doing a double closing?

If you have the contract with the home owner, then I am assuming you signed a simple buyer will buy and seller will sell contract.

If its through a bank its a full flegged real estate contract with a no assignment clause.

Too many variables to go over without knowing more about your contract and deal.


Andrew Massaro

Wholesaler · Tampa, Florida


Forum_avatar_avatar-flip_coach

Nov 01 '11, 11:03 AM

Does it matter who the seller is? This is the B - C transaction. Just use a purchase contract, and double-close.




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