Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

101
Posts
47
Votes
Don Nelson
  • Rental Property Investor
  • Buena Vista, CO
47
Votes |
101
Posts

Permission to market equitable interest?

Don Nelson
  • Rental Property Investor
  • Buena Vista, CO
Posted

Hello BP!  I'm working as an agent for wholesalers.  The listing agent on a contracted property discovered they wholesaler was marketing the property.  She claimed they are not allowed to do that or take pictures of the property without the permission of the seller.  She also stated that the buyer was deceiving the seller with their intent on the deal.  The sellers thought they had a "real buyer" and are upset the wholesaler is marketing it for $10K more than the contract price.

Question - Does the wholesaler have any obligation to ask permission from the seller or disclose marketing their interest (i.e. the contract for sale) in the property?  Any legal references would be helpful.

Secondary question - Is there anything unethical on my part (the agent) in writing contracts with advanced knowledge that the buyer intends to wholesale it?  Thoughts?

Many thanks!

Most Popular Reply

User Stats

42,675
Posts
62,837
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,837
Votes |
42,675
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

Well if your selling a contract / through the equitable interest noxious why the need for pictures or inspections or anything else...

Well the reason is your ( and I am not talking about you directly but the act of so called wholesaling)

YOur selling real estate your taking pictures doing invespection etc etc..

if your selling a contract no pics needed. you just say I have a contract on this address.. no pictures no inspections.. Anything past that in my mind is selling RE without a licesne

and totally misleading the sellers as to intent. 

business profile image
JLH Capital Partners

Loading replies...