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Updated over 6 years ago on . Most recent reply

User Stats

79
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4
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Joe P.
  • Rental Property Investor
  • Mechanicsburg, PA
4
Votes |
79
Posts

Legal to market a property prior to closing? (not wholesaling)

Joe P.
  • Rental Property Investor
  • Mechanicsburg, PA
Posted

I know a similar question has been asked a million times and I will probably get a variety of answers but I do not plan on wholesaling this property. 

I fully intend to close on and buy this property myself however I only intend to do so if I can find an end buyer.  I would like to advertise on facebook, zillow etc. and close if and/or when I find a buyer.  I know most people are asking this question as it pertains to assigning contracts and it seems to be a bit of a grey area but if I intend to buy this property myself when I find a buyer does that make it less of a grey area?  If it is legal do I need to disclose that I don't yet own the property?

Most Popular Reply

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4,353
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1,722
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Sam Shueh
  • Real Estate Agent
  • Cupertino, CA
1,722
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4,353
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Sam Shueh
  • Real Estate Agent
  • Cupertino, CA
Replied

Not recommended unless there is 100% probability and there is no licensed people like lawyers, realtors involved.

IMO no harm to suggest to others it is coming give them some idea above size, ballpark asking price have them contact you. The seller needs to endorse it in writing(eMail)…..


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