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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Cypress, TX
9
Votes |
35
Posts

Wholesaling a Property Listed with an Agent

Account Closed
  • Real Estate Agent
  • Cypress, TX
Posted

Is it a bad idea to try to wholesale a property that is listed with an agent? If not, what are the steps to take when dealing with an agent? In Texas I believe double closings cannot be done without funding both. Any and all advice is welcomed and appreciated.

Most Popular Reply

Account Closed
  • Professional Investor
  • Dayton, OH
36
Votes |
113
Posts
Account Closed
  • Professional Investor
  • Dayton, OH
Replied

@Account Closed

Bad idea? Heck no!   I wholesale listed properties all the time.  Just make sure you add a clause in the Addendum that says you have the right to assign the contract, even if you added "and/or assigns" to your name.

Assigning the contract avoids the double close and thus the funding problem.

Alternatively, find someone who will do transactional funding for you at a reasonable rate and just calculate that fee into your cost of doing business.

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