Can I advertise a house for sale that I just put under a purchase contract?

[Daniel Bradshaw]

Hey Everybody,

I am wanting to get into wholesaling then eventually short sales and rehabs. If I put a house under contract and intend to assign my contract rights at closing in a "double closing" or "simultaneous closing" can I put listings in the newspaper or signs up show the house for sale?

If not, how would I go about attracting investors interest to eventually "sell" the property to?

Thanks,
Daniel

[Bill Gulley]

LOL!

What will your ad say? That the house is for sale and to contact you (basically)?

Are you a Realtor?

What's the penality in your state for advertising anything you don't own for sale? Is that fraud? Could I advertise your car for sale if you agreed to sell it to me next week?

Do you see any down side here? What happens if your seller dies? Then what?

Did you get permission from the seller in your contract to advertise the property and assign the contract?

How do you show REOs? Take your buyer in during the inspection period. Inspect the property. How long is your inspection period, you could ask that inspections could be performed, but the contract NOT being subject to inspections tothe day before settlement!

So, as to ads, it depends on disclosures, permission and what you ad will say. I doubt many think about the small stuff anyway, good guestion Daniel!