Received a Cease and Desist on a HUD Property I'm Wholesaling

[Janette Olano]

So, I got this huge, beautiful house under contract from HUD. I intend to wholesale the property and so I listed it in Craigslist. By far this has been the most popular property I've listed--I got the property for so cheap that I keep getting numerous calls from retail buyers and a few from investors.

A week after it was listed, I got a missed call from Sage Acquisitions informing me that someone reported to them that this property is being sold in Craigslist and if we don't stop they will send us a cease and desist order.

I'm a little bit at loss as to what to tell them when I call them back. I would love to close on the property but I just don't have enough cash for it. If you are in my position, will you just let go of the property? 

[John Thedford]

As I have stated before: unlicensed brokering is a tough living! Close and then resell-problem solved.