All Forum Posts by: Phil Z.

I would stay clear of agents when wholesaling. Their job is to get the seller the highest retail offer .. not a wholesale offer that is immediately resold for retail.

Most wholesale buyers tend to shy away from properties that are on the MLS anyway.

Most board contracts have a clause stating that the contract can not be assigned without the sellers written consent. As a wholesaler you need to use a contract that CAN be assigned without the sellers written approval.

Assignment should probably always be the 1st option. Easier and cleaner.

Releasing a lien is not the same as Waiving the right to collect a Deficiency. You can have a short sale approved with all liens released, but the lender still able to collect on the loan afterwards. They just released their lien on the security instrument. If the approval letter did not include a Waiver of Deficiency, then the 'negotiator' made a huge booboo.

That's the workings of a mortgage scam.

And don't 'give the house back and move out'. They should stay in the house and try to work out a loan modification or short sale with the bank. With FHA loans you might become ineligable by moving out and not continuing to maintain the property.

Not legally. To be paid from the sale of real estate you need to be licensed, and even still the payment would go to the broker first, not directly to the agent.

- The best bet is to just get licensed and sell your own listings for the commission.

- Or you can offer Short Sale leads for an upfront per-lead fee. (not based on the property selling).

- Or if your brave and know what banks don't prevent it, you can try to wholesale or double close a deal.

Another CT investor .. excellent! Welcome aboard ..

I doubt it would matter if you posted it on postlets or not. They just need the address and photos which can be pulled from anywhere. There's not too much you can do about it expect report it when noticed.

Hi Joel, welcome to BP. Always good to see another CT investor ..

I think, that they think, that they can just reduce the purchase price and apply them to seller closing costs ..