UK Student - Wholesale Question

[Max N]

Hi All,

By way of introduction, my name is Max, and I'm currently studying an Economics degree at University in the UK. I've spent the past few month doing some research on Real Estate, and property investments, and have concluded that Wholesaling (at this point) is the easiest/ less risky way of raising finance before making an investment.

My first question is: Is wholesaling an option in the UK or are the laws different from the US? From my research it seems that wholesaling is fairly common in the states, but I can't seem to find many articles/videos from UK RE wholesalers. And as a follow up, am I correct in my understanding that wholesaling is essentially acting as a Property broker or Estate agent?

Next, I was hoping to receive clarification that my understanding of wholesaling is correct.

1) Find a motivated seller and agree to a selling price (preferably below market value) e.g 100,000 (where avg price in location is 150k)

2) Find a buyer and propose a price e.g 120,000

3) Take finders fee/assignment fee of £20,000 as profit

If this is so here are my questions:

1) What is to stop the buyer/seller agreeing to a separate price cutting out the middle man?

2) What if the buyer wants to visit the property? how would you prevent a negotiation

Additionally, can someone please explain to me

a) The contract between the seller and the broker

b) The broker and the Buyer

As my understanding is that the broker signs a contract saying he will buy/assign the contract from the seller. In which case, isn't there a potential risk if the deal falls through (e.g the broker has agreed to purchase the property)

Is the finders fee specified in the buyers contract?

Thanks, I look forward to your responses.

Kind regards,

Max