If I want to wholesale a deal where the best buyer is a retail buyer can I post it on the mls with a FSBO for a flat fee OR a real estate agent If my intent is to use transactional funding. Since I cant market it on the mls if i was to assign the contract i figured using transactional funding would work since i am technically buying the property.
BE CAREFUL, if you plan on having an end buyer that is conventional, your plans most likely will go south quick. Most Conventional lenders will see that you are not on the deed at the time you went under contract with their client, your end buyer. And they will not approve the funding.
You can buy the property with HML, PML or your own cash then relist. You can go under contract and still try to sell to an end buyer but you will have a smaller pool of buyers who have all cash or an investor buying the property (who might have better lending options).
Also, you probably want to be transparent with your seller if you were to do this. A) your contract probably should state you can list the property B) if you did list then cancelled the listing your seller will get a TON of calls from other agents who are trying to pick up a new listing once they saw that this listing expired or was terminated. so if you didn't tell your seller, then you did this, they'd find out quick.
If you are very transparent with your seller, then you could still get them UC at your price then you handle everything on the listing side but when it comes to closing you most likely would have to be a line item on the seller side HUD and allow your Seller to be direct with your buyer so the buyers lender sees the seller on deed is who is on contract and they will never bring up your fee on the seller side. Your fee would be similar to a lien they owe, so the end buyers lender would never question it. Then the sales price is what the end buyer buys it for, your fee would be the difference between what you and the seller agreed on, you're paid off at closing and all parties are happy. This is usually a little tougher for some people to swallow though, so just keep that all in mind.
I also offer Transactional Funding, "Wholesalers Transactional Funding", but we aren't currently offering Short Term Funding ie GAP or Bridge loans.
There are a couple hurdles in posting it to the MLS:
1. Many MLS' only allow the current owner to execute a listing agreement. Signing a listing agreement when you only have an assignable purchase contract is often not allowed.
2. Since you have a purchase contract in place, the property is technically "Pending" and by listing it as "Active" on the MLS, you'd be in violation of their rules.
@Ricardo Ramirez This is a no. If you want a retail buyer then you need to own the property. You cannot wholesale to a retail buyer. Bank will not pay you a wholesale fee. You will need to own this property first. I just closed on a deal like this yesterday! I put it under contract a month ago, I bought it yesterday and Im selling for retail in 3 weeks. Making about 100k in profit. Even if you have to use hard money, it can be very profitable for you to go this route if the deal is good enough. Ive got a great lender I can put you in touch with!