Anyone actually wholesaling in Vancouver BC

[Pawan J.]

Hi all, I hear about wholesaling more and more and sounds great, but is anyone actually doing it in Vancouver British Columbia ( BC ) Canada or the Lower Mainland? Interested to learn more about success stories from people wholesaling in this area.

[Roy N.]

@Ross McKenzie , @Patrick Britton 

The act of assigning a contract is not illegal.   We frequently make offers under one company and assign the contract to a different entity for Close.  We have also had arms-length third-parties offer to purchase a contract from us prior to close on more than one occasion.

The key difference between the assignment as we use it and wholesaling is intent. We always enter into an Agreement of Purchase and Sale (APS) with the intention of purchasing and taking possession of the property. A wholesaler, on the other hand, typically has no intention to take possession of the property his/herself.

Now, paying finders or referral fees is where you can run into legal issues in some jurisdictions.