Updated about 9 years ago on . Most recent reply
Wholesale Question
For example, someone owes $50,000 on a house and I get it under contract for $30,000 cash and wholesale it to another investor.
The $20,000 that person owes to the bank is between them and the bank. How is the title of the house handled even though they still owe and my buyer has purchased the house?
In other words, how does the bank allow that person to sell their house, even though they are selling it for less than what they owe?