Updated about 4 years ago on . Most recent reply
Wholesale deal in Pre foreclosure
Hey Guys hope I can get a little insight here. I'm currently looking at a wholesale deal that is in pre foreclosure. The payoff is still way bellow market value and I'm trying to take that into consideration when making my offer. My question is, are there any things that I might need to be aware of if I make this offer? More specifically, how can I be sure that my end buyer is covered and the loan will get paid off in the event they purchase the property assignment? My seller to Buyer contract doesn't have anything on it about the name or address of the existing mortgage company. I just don't want to put my end buyer/investor in a bad spot on the deal. I think that's the best way that I can explain what I'm thinking. Thanks guys for any help you might be able to give!