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Updated over 8 years ago on . Most recent reply

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80
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14
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Rickey Wallace
  • Lancaster, PA
14
Votes |
80
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Wholesaling as a licensed agent

Rickey Wallace
  • Lancaster, PA
Posted
How would one go about doing a wholesale transaction as a RE agent? Scenario: u r approached by a distressed seller. She wants out of her home b4 she gets too far behind in payments so is super motivated to save her credit. Owned for 12 years, bought for $57,500, owes $18k, can't afford repairs of about $26k, CMA shows ARV to b about $132k. U don't want to flip but the value margin is too good to just let it go "too waste." Is it possible to do transaction w/o signage? Would broker fees still b involved? Would it ever need to b displayed on the MLS even if it's already sold n closing in 1-2 weeks? I'm trying to understand the proper course of a possible situation that I could run into. Any input, from any state's jurisdiction, would help

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17,447
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,123
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17,447
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

I dont know PA law....but in general I think it is a bad idea for someone who is licensed to participate in wholesaling.  If you are an agent I would suggest listing the property.

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