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Updated almost 13 years ago,
SERIOUS Dilemma!
I asked a few title companies in my area (Greenville, SC) and they told me that it's illegal to wholesale properties for the simple fact that if I didn't actually "buy" the property myself I can't turn around? and sell it it somebody else. They told me I would have to buy the property "first" and then I can sell it to my end buyer that same day. A few title companies mentioned that they didn't want to get involved in these transactions and risk going to jail. How do I handle this situation? Is there any title companies in my area (or surrounding states) that can do wholesaling closings? I was told you don't need any money to wholesale real estate but by the response I been receiving that doesn't seem to be the case. I found a lot of great deals just can't seem to get started.
Any help would be greatly appreciated. Thanks!