How Do I Wholesale Pre-Foreclosure Properties?

[Olivia Darling]

Ok, I have two good deals but they are pre-foreclosure properties and I'm a Wholesaler. How do I close the deal with a Pre-Foreclosure? I'm lost because I know about closing deals with FSBO properties. Do you do pre-foreclosure the same way, Contract with seller

[Wayne Brooks]

Can’t help you, since I try to discourage wholesalers, those without the ability or intent to buy anyway, from dealing with people in foreclosure. Since the most likely outcome is that you get it under contract, you can’t wholesale it, the owner incorrectly thinks they have actually sold their property and solved their problem, made plans to move, you bail and now they don’t have time to sell it to a real buyer. Not a good thing to be running around doing to people.