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Updated about 5 years ago on . Most recent reply
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Advertising contracts for assignment
I have seen many articles talk about the steps in getting a piece of land under contract (with the intention of wholesaling) and then advertise it on Zillow, land watch, Craigslist, Facebook, etc.
I have not seen any contracts for assignment advertised on Zillow. Is this legal? What steps have you gone through to advertise a contract for assignment?
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Thanks to all who have replied. I just got this email from a real estate lawyer in Virginia with a great explanation:
“if you have a property under contract, you have what is called equitable title in the property. That gives you a type of interest in the property, to the point where you can market it for wholesaling. You cannot market a property for sale in Virginia unless you have an interest in it (legal and/or equitable title--which you have once you have a contract on the property, legal title being acquired once a deed is transferred and closing happens), or unless you are licensed realtor/agent and have an agreement with the owner to market and sell the property. Long and short, if you have a property under contract, you can advertise it as a wholesale deal. “