Well very simple, they value the flexibility that wholesaling the property will give them, they don’t want to keep anything from the house and by wholesaling they don’t have to worry about paper work, cleaning or anything else, they just get a check, grab what they want, get in the car and done.

Think E*Trade or Fidelity with different paperwork.

I want to make sure I am pre-approved and have the proper paperwork ready if the seller is interested.

Also, he has his IRS paper work and bylaws.

I do not know if  all private lenders are like that however you might want to ask the question before you do all the paper work for the loan. 

My attorney drew up the state specific paperwork to do a deed transfer, which I got locally notarized and they filed for me.

When I bought the bank foreclosure, the property was still in the prior owners name, and the paperwork indicates the Grantor will be the bank once the deeds are filed.As far as heirs, and who is in control, that's another story.

You need to do new paperwork since ownership has changed.We really like M2M, so we transfer inherited tenants to our M2M paperwork. 

They are going to send me paperwork tomorrow to review and eventually sign.

I would think the importance of real estate attorney in such a transaction would be critical to ensure all paperwork is legit and proper.