Advice: Wholesaling with no contract pre-signed

5 Replies

*new to BP; first post” 1st year Wholesaler & I’m in talking with a seller who does not want to sign an agreement until I have located an end-buyer. Is this option possible (should I proceed), considering I have no protection on the deal other than verbal agreement?

I wouldn't do it. They would be able to cut you out of the picture. Also to some degree it would be illegal depending on the state. Wholesailing is selling the ability to purchase a property (or the contract to a property). If you do not have a contract to sell, you would be selling the actual house. And if you do not have a license you could get into trouble.

Strong agree with Kevin, I think in that structure you don't have equitable rights and then no right to market the home so it would be pretty sketchy.

I am still communicating with the seller. They claim to have other offers but I have doubt because it has been more than a month and they have not accepted any of the offers they claim to have. I plan on continuing communication until property is sold or seller accepts my wholesale offer.

Any advice you can offer, I would love to receive it.