Newbie questions about wholesaling

[Khoa Ha]

Hi BP,

I met a wholesaler a few weeks back and have given my contact to her. The deals she have been sending is pretty good. However, I am new to this wholesaling business. I was wondering if I buy from a wholesaler then that mean that when the transaction take place all encumbrances on the property will be removed and I will get the title to it free and clear right? It is the job of the wholesaler to give me full disclosure to the property right? For example, if I agree to purchase and during escrow a second lien, mechanic lean, etc... show up I can back out of the deal if it does not make sense then right? It is not like an auction where you can accidentally purchase a property only to find yourself owning more than what you bid for. 

Thanks,

KH

[Alex Deacon]

@Khoa Ha If you buy from a wholesaler you should get a good clear title. make sure your RE attorney who does the closing runs a title search and you should purchase title insurance. If you are using a bank to finance then chances are this will all be done before the bank will lend you the money but if you are paying cash then you will have to make sure this gets done.