Wholesaling question?

Do you have to find a seller willing to invest before trying to get a Property under contract? Because what happens if you get a place under contract and you can’t find someone to buy it?Do you get some kind of penalty / how long do you have to find a buyer once you find a seller under contract?

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  • Judy
    Lv 7
    1 month ago

    I think you are very confused, from the title of your question and through the detail. Do your even know what wholesaling is? Flipping houses has nothing to do with wholesaling. And you can't put a property up for sale that you don't even own yet. You purchase a property and close on it, THEN you can put it up for sale.

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  • 1 month ago

    Normally when you get a property under contract it closes in 30-45 days.  The issue you face is most contracts aren't assignable.  Meaning you have to close in your name.  Plus look at the market.  If you're lucking enough to place a house under contract, with assignability, for $X with expectations of making a small profit off the new buyer.  There are probably many houses for sale at $X, so why would a seller pay you a profit when they can by for $X?

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  • 1 month ago

    What ARE you talking about?

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