Real Estate Agent
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 13 years ago,
How to transfer contract I won to "investor" if needed
I am buying houses cash, mostly REO's but am looking to get into short sales before they go on market. I have a pretty strong buyers list and lots of friends and family"investors" that want me to buy them a house and then put one of my buyers in it, like 6 at least, with cash too. It helps me grow my business for now.
The houses I buy you have to bid on in 24 hours or you wont get anything. I bid in my name or companies name, or just help the investor buy it. They want to buy the house in their name.
I never bid on a house I cant buy myself but it would be nice if I could streamline things by transferring the contract that an offer was accepted on to another individual. Is there a best way to do this that causes as few headaches for listing agents and banks as possible?
I dont want to flip it or sell it for more than what they accepted I just want to give the "investor" a normal process they are used too.
Ive looked at bidding as a land trust, or deeding to them at closing(some banks say we cant).
Im just trying to fix the logistical problem that happens when we have all these people. We have been bidding on about 7 houses for every 1 we buy, it would be nice to just bid and the ones accepted. Assign to someone else.
Thanks for any help.