Wholesaling a property to a buyer who is using a mortgage

2 Replies

Hey guys I have a quick question, I was able to get a property in my neighborhood under contract with the ability to reassign it to another buyer. I’ve actually found a very interested buyer who is looking for a house who is pre approved for a conventional mortgage. My questions is, can I wholesale the property to him, even if he is using a mortgage the purchase? Or can whole sale deals only be reassigned to cash buyers. 

He is interested and has a pre approval, and I’m not worried about the property not appraising high enough, I got it under contract at a great price. 

What Eric said above is correct. If the seller doesn't like that you are proposing the amendment, then maybe offer a larger deposit or even offer that the deposit go non-refundable, if that works for you. Hopefully, it's a house you can get access easily, too, since the appraiser will need to go, and maybe others, i.e. an inspector.