Bank foreclosed properties.

[Randall E Collins]

I would like to rephrase my question. How can I wholesale a property that has been foreclosed by the bank or Credit Union? I'm not looking at pre-foreclosures, too much hassle I believe. Would a contact be assignable?

Second question. I've heard this can be done with a double close. Is that true? If yes, please explain how to do a double close as I've never done one and have no experience.

[Chris Seveney]

@Randall E Collins

Depends on who the bank is. For example we are a lender and foreclose all the time. We won’t allow assignment contracts because 90% of wholesalers are a waste of time but would allow a double close all day long.