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Updated about 10 years ago on . Most recent reply

User Stats

20
Posts
4
Votes
Bill Thomas
  • Real Estate Investor
  • Mamaroneck, NY
4
Votes |
20
Posts

Who pays the bank balance?

Bill Thomas
  • Real Estate Investor
  • Mamaroneck, NY
Posted

When wholesaling a house to an end buyer, is the end buyer responsible for paying any and all balances owed to the bank if the owner does not own the house free and clear?

If that's the case, how does that affect the offer price to the distressed owner of said property?

Thanks.

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