Flipper/Rehabber · Elizabeth, NJ · Member since 2018 · 3 posts · 0 votes
I found someone who has a lot of properties for sale at a discounted price. He stated that he acquired them from an auction. Am I able to wholesale these properties if I get them under contract?
@Owen Washington it could be done but its complicated, A) you have to be a real cash buyer because they require you to put down a non refundable deposit after the action, or you must have very solid cash buyers that are ok buying a property sight unseen because its hard to get access to the property prior to the closing of title. B) in this particular market the deals are usually not left with much meat after the aucion.
I’m guessing we are talking about someone who has Already paid for properties at auction.
But, they are different kinds of auctions.....this could be someone who bought tax foreclosure properties where there may be all kinds of issues, redemption periods,liens, title issues etc.
You will find these garbage properties all over EBay.....sellers looking for uninformed buyers.