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Updated over 4 years ago on . Most recent reply

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3
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0
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McKoy Allred
  • Central Utah
0
Votes |
3
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Wholeselling Land and flipping land

McKoy Allred
  • Central Utah
Posted

I have signed a purchase agreement and put earnest money down on land. The contract says I can assign this deal to someone else. My question is can I market to sale this land while I don't yet own it? I would be selling my "interest" in this land. 

Thanks!

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32
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34
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Gabriel Johnson
  • Investor
  • Charleston, SC
34
Votes |
32
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Gabriel Johnson
  • Investor
  • Charleston, SC
Replied

Is the owner under the impression you will show up to the closing table with the funds to purchase the land? I can't speak to the legality of marketing your interest in the land without the owner's permission, but I can speak to the ethics. Be transparent; tell the seller this particular parcel is missing the mark for your criteria but you have a network of investors you work with who would parter with you, fund the deal, and pay you out a fee at closing to cover your risk and marketing spend; the sleep well at night :)

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