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Melissa Card
  • Wholesaler
  • Fairfield, CA
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Wholesale an REO without back to back???

Melissa Card
  • Wholesaler
  • Fairfield, CA
Posted Sep 19 2016, 22:18

Hello BP'ers,  I wonder if anyone can answer a question or knows who can...

Have you heard of wholesaling an REO without a back to back close? Since you can't do an assignment.

I heard the wholesaler gets it under contract then adds their buyer on the contract as an addendum with them both buying it. Then at close the wholesaler does a Quit Claim Deed to the buyer in exchange for their fee.

My question is, can 2 LLC's be on a contract to buy one property? Or would the owners of the LLC need to list themselves as individuals?

Thanks for your help!

Melissa

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