Look for buyer before or after contract is in place ?

7 Replies

Is it okay to advertise/market a wholesale deal to buyers before you actually get it under contract ? I see a lot of posts where people get it under contract and then look for buyers is there anything wrong with doing it the other way around ?

Cierra, I have wondered the same thing.  Is Reverse Wholesaling better or worse than Wholesaling?  Or is there a difference in which direction you go? 

@Cierra Seay   @Samantha Lotti  

Questions

1. how do you sell something you dont own?

2. If you find a buyer for a property you dont own, how are you going to show it to "your buyer"

3. If you figure out a way to show your buyer, if you dont have a contract, how would you keep our buyer from buying direct from the seller?

If you dont have a controlling interest, you are playing realtor which doesnt sit well with realtors and governing entities, may find yourself in trouble with the authorities.

I wholesale quite a few, many times I have a buyer in mind when making offers. I  may have a contract to sell the house to another rehabber within days of me locking up the property, but I have never tried to sell something I didnt own or have a contract on. 

Hi Dell. Thanks for your input.  Once I have an offer accepted, I will then put it under contract to purchase (with a clause stating that I have the right to assign/sell the contract). Signing a contract with a seller would give me "Equitable Interest" in the property, which will allow me to find a buyer to assign/sell the contract too.  

@Samantha Lotti  that will work, now that you got the hard part figured out ;-)  all you need is to find a seller, willing to sell to you for less than a buyer is willing to pay you.

Easy peasy lemon squeezy ... 

Wish you the best in your real estate endeavor.

Dell... Thank you so much.  Easy Peasy... lol  

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