Wholesaling REO's in Maryland

[Mark Evelyn]

Does anybody know if you can do assignments on REO's in Maryland and DC?

[Peter Giardini]

Mark... it is not a matter of location. I cannot think of lender who will allow an assignment. Also, most lenders will not allow double closes... this is controlled by restricting how long the property must be held prior to another sale (deed change).

With that being said, there are ways around this restriction... the most popular is to put the property under contract in and LLC and then sell the LLC to the ultimate buyer. The purchase price for the LLC would be your assignment fee.

Best of luck!