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Updated over 8 years ago on . Most recent reply

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403
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Jason Carter
  • Rental Property Investor
  • Culver City, CA
246
Votes |
403
Posts

Wholesaling house by selling to the current tenant

Jason Carter
  • Rental Property Investor
  • Culver City, CA
Posted

I have a house I'm negotiating with the owner and just visited it today. The tenant showed me the house without the owner present. She and the owner do not like each other and are not communicating. The tenant expressed a desire to buy the house at a number higher than I'm talking with the owner. She wants to buy w/traditional financing though. 

What's the best way to structure this? I'd rather owner didn't know tenant is buying from me. Since tenant is buying w/traditional financing and not cash, do I have to buy it first and then sell it to her? Or is it possible to sell the contract to a buyer who is using traditional financing? 

Most Popular Reply

Account Closed
  • Investor
  • Princeton, TX
1,080
Votes |
1,900
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Account Closed
  • Investor
  • Princeton, TX
Replied

@Jason Carter  I looked it up.  All the lawyers say ask the title company you will use on the part of the transaction with traditional financing.  You should also be aware some mortgage companies will not allow a closing on the same day. 

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