Updated almost 9 years ago on . Most recent reply
How to Wholesale a Foreclosed Properties???
Hello All,
I'm from and live in Philadelphia, and I am a new investor looking to wholesale properties (particularly distressed or abandoned). I found a property that is vacant, and has been for quite a while. After researching it I found the owner's information but also found out that they owe property taxes and the house has been foreclosed by the bank. Zillow.com indicates the property is off the market. What steps should I take to wholesale this property, if that is possible? Thanking you in advance!
Most Popular Reply
The owner is a bank, and they want you to pay them whatever they want for the house. Wholesaling this will require your own money, or transactional financing. Youre not going to be able to sell a contract.