Is it possible to assign contracts that are not cash purchase?

[Arsh M.]

Whenever I look into wholesaling it’s always from the perspective of a cash purchase. Problem with that is that limits the pool of buyers. 

I want to get things under contract with financing option and assign that contract to an investor who will then secure the loan themselves and close on the house and pay me my assignment fee. 

Is this possible if I don’t plan on closing the deal myself and don’t plan on getting a loan to purchase either?

[Lydia R.]

Quote from @Arsh M.:

Whenever I look into wholesaling it’s always from the perspective of a cash purchase. Problem with that is that limits the pool of buyers. 

I want to get things under contract with financing option and assign that contract to an investor who will then secure the loan themselves and close on the house and pay me my assignment fee. 

Is this possible if I don’t plan on closing the deal myself and don’t plan on getting a loan to purchase either?

 Banks wont close/fund a transaction with a wholesale fee. They dont recognize a wholesaler as a legitimate party to the transaction. You arent the agent, you arent the seller and you arent the buyer. So they wont fund. Either find buyers with hard money or cash or close on the property yourself and then resell it.