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Updated over 10 years ago on . Most recent reply

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Chris Martin
  • Investor
  • Willow Spring, NC
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MLSs allowing listings where seller doesn't own the property

Chris Martin
  • Investor
  • Willow Spring, NC
Posted

If it isn't clear, I am unlicensed. By design, by the way. In this recent topic (http://www.biggerpockets.com/forums/521/topics/133866-charlotte-nc-wholesaling-101-and-basic-rehabbing), I came to the realization that there is at least one North Carolina MLS that allows a realtor to list property by someone other than the legal owner of the property, e.g. a person with a contract. In this case, it was from a wholesaler in Charlotte. The obvious question is 'How many other MLSs allow listing property by someone with just a contract and not ownership?'

For those not in NC, the newest(?) 'standard' contract (Revised 7/2013) has a checkbox on page 6 (of 11) under SELLER REPRESENTATIONS that allows for Ownership declaration via a checkbox: "Seller represents that Seller:... does not yet own the Property." That makes life a lot easier for wholesalers.

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