question about wholesaling huds

[Brittany Bolling]

hello everyone I'm a wholesaler I have primarily worked with private owners but I recently been interested in wholesaling HUDS but i have a few questions 1. should i tell my agent that I plan on wholesaling the huds?. 2. should i offer the agent a cut on the deal for submitting my offers? 3. I dont have earnest money i know i could get that from a buyer but should i get my offer approved 1st or while im negotiating?

Any assistance will be most helpful

[Chris Martin]

I don't know how you can effectively wholesale HUD properties without a really solid buyer behind you. You can't assign the contract. Earnest money is $500 or $1,000 and they will not change paperwork (specifically deed/ownership definition) after the bid is accepted. Yes, POF from you and Earnest money is due immediately after bid acceptance. Are you going to double close these HUD property 'wins' with a B-C cash buyer and (most likely) transactional funding?