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Updated over 1 year ago on . Most recent reply

User Stats

10
Posts
6
Votes
John Santiago
  • New to Real Estate
  • Minneapolis- St. Paul
6
Votes |
10
Posts

Pre-foreclosure wholesale question

John Santiago
  • New to Real Estate
  • Minneapolis- St. Paul
Posted

Hi all,

First off thanks for reading this post in advance! I have a "first-timer" situation and want to make sure all my ducks are in order to go through with the transaction. So, any advice would be very helpful!

 I currently have a pre-foreclosure property that the seller is ready to just "get rid of" and come out clean. I am looking to wholesale the deal but do not know all the legalities in the state of MN. Also, when it comes to assigning the contract, what is a good rule of thumb for an assignment fee? Any specific websites where I can get an assignment contract made up fairly quickly? How fast does this need to occur in order to prevent a short sale? Thank you to anyone who can provide some outlook on this situation! God Bless!

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