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Updated almost 9 years ago on . Most recent reply
Wholesaling a Property Listed with an Agent
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
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.