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Wholesaling
Account Closed
  • Investor
  • Wood Dale, IL
3
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65
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Wholesaling business is for dishonest, crooks?

Account Closed
  • Investor
  • Wood Dale, IL
Posted May 8 2015, 13:26

My subject is not direct, but a legitimate question.

I recently got a prime follow up call for a prospect that could absolutely be wholesaled. Upon making an offer and coming to negotiating terms with the seller, I needed to find an attorney who is familiar with how wholesaling works. After reading a response to a forum posted by @Tyler O'Malley, apparently all RE attorneys are familiar with wholesaling or are able/willing to work with you. This is not the case at all. After several phone calls with attorneys, I have not gotten one single attorney who wants to deal with wholesaling because it is a "dishonest" thing to have the seller under the impression that YOU are going to close on the property and/or it is a waste of their time because "most of the time these assignments of contracts never work out". After giving it some serious thought, it does seem pretty dishonest to mislead the seller into believing YOU are going to close on the property and then worst case scenario ending up voiding it all together through a "weasel clause" and wasting everyones time. My question is can anyone convince me this is not a dishonest business and also is it possible to find an attorney willing to work with you without actually being dishonest with him too.

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