Hi everybody, i love the site and hope to meet new people. i also hope to learn alot. i do have a question, i'm interested in wholesaling and wanted to know once you think u have a good deal why is it you can not do a title search until AFTER u sign the purchase contract. it there r bad liens on the house wouldn't it cut into your profit. thanks for your help, anglewings
Wholesaling is a numbers game. 9 out of 10 good potential deals, you won't get a contract on. If you were doing title work on 90 properties to only buy 10, your title agent wouldn't like you. :crying: They would probably expect you to pay for all those searches, too, which would really cut into your profits.
Liens against a property are the responsibility of the seller to take care of. Of course all things are negotiable in a contract, but normally you don't see a buyer paying for title issues of a seller. They normally come out of the seller's proceeds from the sale. If the liens are more than the seller is going to net then the deal is normally dead.
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