Wholesale Question
I used the search but I could not find an answer.
Question: If I have a seller that has a house he wants to sell....
The house has a mortgage balance of $200,000 he is paying on.
The seller agrees to sell for $100,000...
I line up a buyer for $125,000...
What happens to the remaining balance of $75,000?
I'm really new and I'm just trying to understand the process.
Thanks.