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Wholesaling
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Updated almost 3 years ago on . Most recent reply

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Marc Middleton
  • Residential Real Estate Broker
  • Miami, FL
106
Votes |
214
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Realtor Wholesaling a Contract with seller to buyer?

Marc Middleton
  • Residential Real Estate Broker
  • Miami, FL
Posted

Hello,

As a realtor, I come across deals off market and I don't always have the funds to buy them myself. These people just want 'their number' and don't want it on the market. So I'd like to 'buy' their home, market it for the 15 day inspection period, find a buyer willing to pay more and have the difference go to me in lieu of a commission since they aren't listing with me.

Anyone have experience with this? We're not talking pennies either, potentially $50k-$75k if I can get access to the home and do my big open house. I more than likely would be flipping to a Realtor represented buyer. Does that make it difficult? More than likely a cash buyer, not worried about financing. I will have checked the 'may assign and be released' box on the contract. 

Thanks in advance! 

Most Popular Reply

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
9,532
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7,652
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

The reason they don't want to list it is because they don't want people to know it's for sale and they don't want people coming through their house. So either you have to actually buy it, close the sale, then sell it. Or sell it without the MLS and without an open house.

Does the MLS even allow a non-owner to list on it? If I'm a realtor, can I list your house without telling you? Doesn't seem likely. I would also cross about 100 t' s and dot 100 I's. Tell the seller you plan to re-list it for more money and never buy it. I don't know if you'd only lose financially in court or your license would also be at risk. I'm pretty sure who's side the court would take if a realtor sold a "victim's" home for "thousands" more than they agreed to. And make sure the seller isn't an elder, you don't want elder abuse on the list.

Talk to your broker, see if they’re willing to let you and take the possible heat for no gain to them. This is one of the downsides people often mention when getting their license. You’re held to a higher standard. 

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