STRANGE WHOLESALING ISSUES

[Jordan Santiago]

I have the motivated seller under contract, and my buyer under contract for this one property. My buyer is an out of state investor. He wants me to wire him 2,000 to pay his teammate go look at the property before the closing date. Is that sketchy? Im most likely going to do it because I have him under contract and his earnest money deposit to me is 4,000 so even if he flakes, I am owed 4,000.

Thoughts and advice please? Trying to get my first deal done.

[Stanley Parsley]

this is one of those things I cant agree with

you are holding a contract with no real interest in purchasing the property

let alone not having the financing to purchase the property? assumption-

now you have someone on hold to purchase and for turning the note you make 4k?

in my opinion this should be illegal, the contract holder should be liable to purchase the wholesale contract with proof of funds and closing costs

once the deed is in the wholesalers name then the contract could be sold

this would remove all the would be wholesalers out of the business

making a fast buck  in my opinion is not ethical

enjoy