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Updated over 10 years ago on . Most recent reply
Can I sell someone's home for them?
So I came across a home today that I am interested in buying. The seller is more interested in a quick "traditional" purchase then he is in talking about other financing options. But the experience raised a question in my mind.
I am not a realtor and have no intention of getting my license. Can I agree on a purchase price with the seller that is below ARV, with a delayed closing and then look for a buyer and take the difference of the purchase prices?
Basically it sounds like I would be selling his house for him but saving him the seller's agent cost and then marking his house up. It just made we wonder if I could do that or if that was similar enough to what a realtor does that I would get in some kind of trouble for not being an agent?
Any thoughts are appreciated.
Thanks
KC
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The concept you're thinking of can be done via wholesaling/assigning contracts. Look around here, and you'll find a wealth of knowledge on the subject.
In a nutshell, if the house is worth $100,000 you put it under contract for $90,000 with the stipulation that you can assign the contract. Then you find someone to buy it for anything above $90,000, assign them the contract, and earn the margin spread.