Wholesale without agreement--

[Harvey Gronwald]

Hi I have an out of state seller that I cant handle myself. I have found someone to take on the project and I just want an assignment fee. I have nothing signed by the seller yet. How do I best proceed to transfer this potentially lucrative deal to another investor?

Thank you

[Wendell De Guzman]

Sorry to disagree with what others are saying here. If you can't get the seller to sign something, you have nothing to assign and therefore nothing to wholesale. Get the deal in writing. 

You can offer to the seller a NON EXCLUSIVE OPTION TO PURCHASE agreement so you don't tie up the property. The seller can still sell the property to someone else if you don't. However, if you do get a buyer, he will have to sell the house to you and in turn you can sell the house to someone else.