Can I wholesale a contract obtained for a probate sale?

Can I wholesale a contract obtained for a probate sale?

Member since 2018 · 16 posts · 9 votes

I won't go into details on here on why I no longer want the property but it has nothing to do with the house itself. I've never done wholesaling before, but I'm looking into if that's an option for me. I got the house on a discount because the home was badly listed on the mls since it had terrible photos and was listed as condo when it was really a sfh so little demand. Also, it's a probate sale which takes a while and most folks don't want to wait for a house to close for 2-3 months.

I'm wondering if anyone who has experience with probate or wholesaling would know if there's anything legally prohibiting me from wholesaling this deal? The house is located in the greater Sacramento, California area btw.

0Reply
26 views

Most Popular Reply

Member since 2020 · 14 posts · 8 votes
5y

If the property is no longer in probate you can wholesale it. If it is still in probate you can still wholesale it but you would need approval by the court (typically 2-3 weeks). Oh and make sure the person who is giving you the home has the authority to convey the property to you. That authority is called letters of administration/letters of testamentary.

See this reply in the discussion

5 Replies

Jump to latestLatest
  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    5y

    That would be dictated by your contract, not the fact that’s in probate. 

  • Member since 2018 · 16 posts · 9 votes
    5y
    Originally posted by @Wayne Brooks:

    That would be dictated by your contract, not the fact that’s in probate. 

    Okay, I don't see anything in the contract about prohibiting of wholesaling specifically. What should I be looking for in the contract?

  • Member since 2020 · 14 posts · 8 votes
    5y

    If the property is no longer in probate you can wholesale it. If it is still in probate you can still wholesale it but you would need approval by the court (typically 2-3 weeks). Oh and make sure the person who is giving you the home has the authority to convey the property to you. That authority is called letters of administration/letters of testamentary.

  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    5y

    @Sam Mueller No contract will prohibit or mention “wholesaling”, since that is not a legal term.....it may prohibit assignment of the contract. 

  • Member since 2018 · 16 posts · 9 votes
    5y
    Originally posted by @Wayne Brooks:

    @Sam Mueller No contract will prohibit or mention “wholesaling”, since that is not a legal term.....it may prohibit assignment of the contract. 

    Thanks, @Wayne Brooks, the "prohibit assignment of the contract" language is what I will look for.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.