Wholesaling properties with a mortgage

[Christopher Bohar]

Good afternoon,

Ideally, I understand it is best to wholesale a property that is free and clear but what about properties that have a mortgage on them? What is the lowest amount of equity you would consider when purchasing a property? Would it be the sellers responsibility to pay off that mortgage before the ultimate end buyer takes deed of the property or is that something the buyer could take care of, perhaps 50/50 on both ends?

And how would the bank be involved in a wholesale transaction if they have a vested interest on the property? I'm trying to look for properties that are free and clear for my frirt deal but am leaving as many options on the table as possible. Thanks! -Christopher