WHOLESALING- BUYER HAS FHA LOAN

5 Replies

Hey BP, 

Im in a unique situation and I'm open to options. Here it goes- 

I have a committed seller and we have agreed upon a sale price of their home @ $200k. I currently have a buyer that is lined up to buy this home at a price of $230k. This buyer is using an FHA loan. Is there anyway possible I can work as a wholesaler to make this extra $30k? I am open to any and all options!

Thanks BP!

- Patrick 

Nope.

LOL thank you for the replies.  "If its too easy, its illegal."

Originally posted by @Patrick Gleason :

Hey BP, 

Im in a unique situation and I'm open to options. Here it goes- 

I have a committed seller and we have agreed upon a sale price of their home @ $200k. I currently have a buyer that is lined up to buy this home at a price of $230k. This buyer is using an FHA loan. Is there anyway possible I can work as a wholesaler to make this extra $30k? I am open to any and all options!

Thanks BP!

- Patrick 

 If the buyer is using financing, you should sill get paid the $30k. It's just that the bank would be paying your fee for the buyer and the buyer pays off the mortgage debt to the bank.

Hopefully I'm not missing anything lol. Correct me if I'm wrong.

Also... Wholesaling is NOT illegal. Nor is it simple haha.

That is how I thought the deal should go down. So I'm assuming this will be more complicated then printing off some forms offline. Why can't they make this process easy?!

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