Wholesaling Creative Deals
Good Afternoon BP family, I have been down the rabbit hole that is seller finance and subto for wholesaling. In my high equity high desirable area of florida it is the perfect REI niche for me, with that being said I am having some analysis paralysis and am looking for a seasoned veterned in subto to ask a few questions.
1. What is a wrap, and who are the parties involved? I think the concept in general confuses me, as to if a new mortgage is in place and "wraps" how does that affect the existing mortgage?
2. What protects the seller from fraud or sketchy behavior, as the buyer is going to be making those payments directly to the lender is their any sensitive information that can be divulged, and is there a way that I can explain it to my potential seller to ease their nerves and make the deal move more smoothly?