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160
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1
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Louise Whidby
  • Wilmington, NC
1
Votes |
160
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Wholesale deal gone bad!!

Louise Whidby
  • Wilmington, NC
Posted

What happens to a property when the wholesaler does not find a buyer within 30days as promised on contract? Can another wholesaler put the property under contract?

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1,336
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269
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Anthony Dadlani
  • Investor
  • New York City, NY
269
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1,336
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Anthony Dadlani
  • Investor
  • New York City, NY
Replied

If I understand your question correctly ....

I would assume the wholesaler would lose their earnest money deposit. Since most wholesalers don't buy their property, and just assign the contract anybody would be able to purchase the home if no closing takes place.

Best of luck in all your endeavors.

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