Wholesaling - how to do it

[Steven Barr]

Never wholesaled a property… usually flip them.

I have one Id like to wholesale though. What are the steps I need to take to do it?

Also, if I put under contract and can’t sell, am I on the hook for anything?

[Scott E.]

1. Get the property under contract. Put the right language in the contract that allows you to assign the deal, and be sure to adhere to any local laws or regulations related to the process.

2. Market the property for sale to your cash investors during your "due diligence window"

3. When you find a cash investor, assign the contract to them.

4. Sign all of the paperwork through a title company, and let the title company oversee the entire transaction.

*To address your last question - It depends on the language in the contract. Talk to your title company or an attorney on this one. But generally speaking, you should be not putting a property under contract that you cannot close on.