Wholesaling an Owner Occupied Home

[Samantha M.]

I am about to get a house under contract, the only problem is its owner occupied. Normally the homes I wholesale or purchase for myself are from absentee owners that are tired of being land lords.

This is a new situation for me. I told the home owner up front my intentions to wholesale the property and explained I personally will not be taking title.

The problem is my buyers list is not all that solid yet, and I don't want to march 12 people from craigslist through the property. I have a few fellow investors that I know personally that MAY be interested. But in the event that I have to market it, how do I go about the various moving pieces?

Two big ones to consider:

1. If I post online should I ask for proof of funds up front (whether Hard money, bank statement) before I meet?

2. Scheduling the owners move. I have the house on a 14 day option. I guess like a realtor acting as a listing agent I would wait to advice the client to move only when I have a good sum of hard earnest money down on the contract and then give the go ahead.

Thanks everyone.

[Samantha M.]

Arktavious Sally

Thats great to hear that good picture and video will cut down on the amount of foot traffic. However, I do have a problem in regards to stretching the truth with the home owner. Regarding POF that might be a problem for me though since as I said, I am a bit new to wholesaling properties to other investors.

I have never met a seller so far that has had a problem with me wholesaling their house, in fact they are usually appreciative that I am telling them the truth. I wont use "weasel clauses" like an inspection period either, I just buy an option.