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Updated over 8 years ago on . Most recent reply
Wholesaling a short sale
What are the steps to wholesale a short sale deal?
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
I'd really ask that you don't even try. The bank is looking for close to FMV, so if you find a listing agent dumb enough to let you get it under contract, it will be at a price that will be difficult to flip to an investor looking for a deal, let alone adding your fee on top. The most likely thing you'll accomplish is just tie the property up for 90 days or so, then the owner doesn't have time to go thru the process again before the auction, when you can't flip it.