Wholesaler Pre Foreclosure

[Robert L Howard Jr]

How does the equity from the pre foreclosure work in the deal? When I learn how to wholesale it was for free and clear homes or doing subject 2 for mortgage.

[Bill Gulley]

Note of caution; understand your foreclosure laws, depending on where this is in the process, attempting to pull investor ploys without having the ability to purchase yourself as implied under the contract can land you up against federal law, a lender can clean your clock for interference with an insured depository.

In other words, investors who lack the ability and intent to buy themselves as stated in a contract with someone in foreclosure should stay clear of any attempt of trying to pull off anything except a true a cash sale.