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Updated over 6 years ago on . Most recent reply

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How to Wholesale a house that isn't owned by current owners

Posted

I have a house under contract that has an after repair value (ARV) of $44,000 and I got it under contract for $25,000. The house however, is owned by a relative of the wife who happens to live in another state. Will he need to be present in order to sign the Purchase and Sale agreement since he is technically the seller? Would he also have to be present during the closing date?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Your contract means nothing if it is not with the actual owner. Yes, the owner on title is the one who had to sign the deed transfer.

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