Homes that are occupied?

[Matthew J. T.]

When wholesaling a house that is currently occupied what is the process that is involved? Do you basically put it under contract, and once the end buyer has purchased it how long does the seller have to move out? I read you can even have the end buyer rent it out back to the original seller if they were in some kind of financial distress. I don't know if it's anything that really matters on my end, but figured I would ask. Also how far in advance should you let your seller know you are going to be looking at the property with your partner ( end buyer)?

[Ned Carey]

That is one of the issues that should be clearly spelled out in the contract. Generally the owner should move out before settlement. However the parties can agree to other terms if they choose.

In some states like Maryland there are very strict rules regarding this. If there is financial distress and the original owner ever gets evicted, you the investor will be perceived as taking advantage of the owner. Fair or not, in most courtrooms the original owner is generally considered the sympathetic party.