Wholesaling REO

[Marylin Cavalie]

Hello everyone!! I have a doubt about contracts with Reos. If I get a property under contract directly from the lender that did not sell at auction and then try to sell it whole sale to another investor can I do this or not? Please help Thank you

[Jon Holdman]

You'll probably need to do a double closing. Most REO properties come with a stack of seller addendums and one of those will prohibit assignments. They may also prohibit any change of ownership within a certain time, so you may have to hold it for that time period before selling.