Wholesaler · Madison, WI · Member since 2018 · 17 posts · 1 vote
Hey all,
I recently reached out to a potential seller whose home is in preforeclosure. He told me to make an offer with the mortgage company. I’m still learning the ropes of wholesaling. Is it possible for me to even do this? What’s his motive behind it?
Could be a few reasons, but I would say it is because he owes more than its worth, so you would likely have to negotiate with the bank to take a loss. Or you could be the 5th wholesaler thats contacted him and he doesn't want to deal with it anymore.