wholesaling listed properties

[Norm Chrostowski]

Is it possible to wholesale properties that are listed with a realtor?

Meaning: If it's listed for say 10k can I bring in a buyer and assign it to them for 13k? Hypothetically speaking?

I hope this isn't a stupid question...

Thanks

Norm

[Ryan Webber]

Scott, I agree that people do sometimes get their feelings hurt. It becomes more about ego than about business. Either way this is business and trying to protect people's ego's is important but not why we're all here. What I've found is that some people ARE going to get their feelings hurt no matter what you do. It's part of being on planet Earth. I do my business with integrity and with a certain level of sensitivity, but I'm in this business for the money. I'm not ashamed of that.

When we are talking about wholesaling, we are primarily talking about doing assignments or double closings. With an assignment the seller and buyer will know exactly what you are making. ALL assignments are this way. The buyer will know when they sign the assignment because you have to give them a copy of the original contract. The seller will know when you close and they see that its not you on the HUD-1 and that there is an assignment fee on there. Norm, a HUD-1 or HUD is the closing statement that the buyer and seller sign that has all the closing costs, prorations, and sales price on it.

A double closing (separate closings to buy from the buyer and then sell to the seller) insulates the buyer and seller from each other on the HUD-1's so the buyer doesn't know what you bought it for and the seller doesn't know what you sold it for.