Anyone have experience wholesaling in Oklahoma?

Question

I wanted to see how difficult is it to wholesale in Oklahoma. Can I just double close, and also the seller is wanting to use a Oklahoma contract without altering language.

Nathaniel Floyd · Answer

Oklahoma is pretty wholesaler-friendly compared to a lot of states. Double closing is absolutely an option — title companies here are familiar with it, just make sure you're working with one that's comfortable doing back-to-back closings and won't give you grief on the B-to-C side.

On the contract question — if the seller wants to use the standard OREC (Oklahoma Real Estate Commission) contract as-is, that can work, but heads up: that contract is written for traditional transactions and doesn't include assignment language by default. You'd either need to add a simple assignment addendum, or plan to double close instead of assign. If they're firm on not altering the contract at all, double close is your cleanest move.Feel free to reach out to me if you have any questions!

Michael Ewers · Answer

I'm a cash buyer buying in OKC and Houston. All of my closings come from wholesalers. From my experience, it's not difficult if you know what you're doing. The closing periods are longer than a typical HOU closing due to the title companies pulling the abstract.

Carson Nordmann · Answer

Oklahoma is an assignment-friendly state, so double close is an option but assignment is simpler if the seller's contract allows it. On the contract language: if the seller insists on their form without modification, just make sure there's an inspection or due diligence contingency baked in. That's your exit if the deal doesn't work.