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.
You're contract probably states it is for a cash purchase. If that's the case the seller would need to. Be willing to sign an amendment to change to financed purchase.