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Updated about 11 years ago on . Most recent reply

Account Closed
  • Rehabber
  • Wilmignton, NC
3
Votes |
55
Posts

Can i get a property under Contract for Wholesaling considering i am 17?

Account Closed
  • Rehabber
  • Wilmignton, NC
Posted

Hi BP Nation,

I am looking at this great property and most likely i can get it under contract.

Its a great property, the seller has moved to California. And she is very intrested to sell it.

It defiantly has a potential for a Rehabber to make money as well.

What i am wondering is that Can i get it under Contract? I can sell it very easily(I hope) i already have a quite a buyer list. Also, I am going to couple of TRIA meetings in upcoming week.

PS i am turning 18 in late March.

I am going to visit the property this Saturday and Most likely will get it under contract this Saturday. I really hope i am eligible to............

Thank you for your time.

Most Popular Reply

User Stats

31
Posts
20
Votes
Jesse Sumner
  • Real Estate Investor
  • Tulsa, OK
20
Votes |
31
Posts
Jesse Sumner
  • Real Estate Investor
  • Tulsa, OK
Replied

No legal advice and seek your own legal opinion before acting. Also, take this with a grain of sale because It has been awhile since I have look at contract law. If I remember right, a person under majority can enter in to a contract but he/she cannot be held to its terms and can void the contract it he/she chooses. The minor can hold the other party to the contract but the other party cannot hold a minor to a contract. So, if you can find someone to enter into a contract with you theoretically you could enter into a contract. All that being said, I highly recommend that you have an adult involved in any transaction: 1) to protect yourself; 2) others may feel more comfortable dealing with an adult.

Good luck!

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