Do I have ownership interest if I have a house under contract?

[Allison Meggison]

We have a couple properties under contract & the other day someone asked if I was the owner, I said "no but that we have equitable interest in the contract that we're selling for a fee. Otherwise we are going to close on it ourselves" If it's under contract, I'm not the owner right? I'm guessing that I only become owner upon closing even though I technically have control of the property while under contract?

[Jay Hinrichs]

nope you have no equitable interest or owner ship interest.  contrary than what the wholesale gurus want you to believe.