All Forum Posts by: Natalie Bull

The transaction took place in WA state, if any other WA wholesalers are out there reading this and can shed light on the paperwork side of things.... 

@Gabriel Amedee Thanks for your reply. I am not sure if the owner purchased title insurance, but I will definitely ask. It's good to know that if he has it, I can rest assured regarding the legal side. 

@Jay Hinrichs @Tom Gimer @Wayne Brooks Thanks for your replies. 

Yes there is a hard money loan in front of me for supposedly $800,000, but seeing the $700,000 in the deed makes me wonder if the loan is actually for $700,000? I tried to look up the lien amounts with the county, but it just shows the lien holders, not the actual amounts. 

I understand the inherent risks of being a subordinate lien on a property, but that's not my question or concern in this thread. My concern is if it's normal for the $700k number shows up on the deed and not the $800k (aka that the deed would not reflect the wholesale fee of $100k) 

Hi everyone, 

I am new to the real estate game and have some questions on whether or not I should be worried about how this transaction went down.

I was brought on as a lien holder after the property was purchased, and I brought $50k to the table to do renovations. I was told by owner A that he bought the property from wholesaler B for $800,000. However, it has come to my attention that the deed for the property in the county records shows $700,000, not $800,000 as the sales price. The deed also only reflects the transaction being between seller "C" and now owner "A". B is not mentioned at all, nor is the $100,000 wholesale fee. Is this normal for a wholesale cash deal?

I guess worst case scenario, I'm afraid the wholesaler is making $100k under the table (which seems like a huge wholesale fee to me?) and there is something illegal going on here. But, the other layer to this is, does it even need to concern me? Am I exposed in any way legally as a lien holder if the wholesaler/seller/buyer did something illegal in that transaction? 

I also don't know how I could verify numbers (a.g. the amount paid to the wholesaler), since there is no HUD involved as it is a cash sale. What documents should I ask to see, if any?

Thank you for reading my complicated question!

Natalie