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Updated over 10 years ago on . Most recent reply

Damien Cox's profile image
Damien Cox's profile image
Damien Cox
  • from Granada Hills, California
  • Member since Aug 30, 2012
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Damien Cox's profile image
Damien Cox's profile image
Damien Cox
  • from Granada Hills, California
  • Member since Aug 30, 2012
Connect
Damien Cox
  • Granada Hills, CA
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Wholesaling

wholesaling conundrum

Damien Cox
  • Granada Hills, CA
Posted

How does wholesaling work with a distressed seller who is upside down in their mortgage? E.g. I find a seller who is four months behind on their mortgage,  they still owe 100k on the mortgage. I pull comps in the area, and they are around 80k.  If the maximum offer allowable is around 50k,  if I offer that number even if the seller jumps at that, and I try to assign at 65k doesn't the bank have the final say in this situation.?

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