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Updated over 5 years ago,
Breaking into Wholesaling
Hello everyone! I've started digging into wholesaling and found more questions than answers. I'm very new to not only investing, but the forum as well so forgive me if I mess up general terminology or commit any forum faux pas.
Questions:
1. How do I establish a contract? Is it like a normal deal where there is a money deposit to hold the contract for the 21+ days that its not on the market? What form/agency do I use to make this legal? Is there a middle man in said legal process (title company)?
2. How liable am I if the deal falls through?
3. I know I need to find the type of buyer I want first, but should I contact them before I'm on contract or after?
4. How does wholesaling through auction work? What are the typical mediums to find properties to whole sale?
I realize this is a lot. If anyone has any references I could use that answers these questions I would greatly appreciate it!
Thanks in advance!