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Wholesaling
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Updated almost 2 years ago on . Most recent reply

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Steven Ruddell
  • Boise, ID
0
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14
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Can you add a buyer to the contract after it is signed?

Steven Ruddell
  • Boise, ID
Posted

Can you add another buyer to a sales contract after it has been signed by the seller and the buyer?  Then after you close on the property, release yourself from the contract for a wholesale fee.

My reason for asking is trying to figure out how to close a wholesale deal when you aren't able to assign the contract, don't want to using transnational lending or a double close.

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Keith Washington
  • Los Angeles
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Keith Washington
  • Los Angeles
Replied

This conversation looks to be 4 years old so I'm very late to the party. 

But hopefully my response will help the next wholesaler. 

I have been able to "add a buyer" to a purchase agreement and at closing I sign a quit claim deed; releasing my interest in the property.  

A contract was established with myself and my buyer for them to pay me X amount of dollars as my wholesale fee.

My buyer went on to profit 100K from the deal and I picked up a nice check as well.

Happy Wholesaling!

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