Commercial Wholesaling Question

[Account Closed]

A seller just countered my offer (just a tad above my offer, and I'm ok with their price as I totally low-balled it) on an apartment building "with bank approval".

Normally, I know that when you have a property under contract you have the right to market it, but how does it work in commercial? If we agree on the LOI, I don't believe that I have equitable title until we sign a PA?

I'm actually considering keeping this property, but was just wondering how wholesaling this would work as an option.

oh and ps. in the LOI, I originally wrote that we would use a "mutually agreed upon title agency," but do you think that in my counter, I could/should cross it out and put a closing company I know would do a double closing? Just in case, even if I don't go through with it?

[Steve L.]

I just put "entity to formed during due diligence" on the contract. I haven't had any issues with that.