How you wrote the contract and your state law may place other requirements for disclosure to the other (selling) party and/or public notice (recording), which an attorney may be able to help you with.Once you "sell" the contract, you obligation is transferred and it is no longer your contract.

Problem #2: The Ex-PM I would look at the contract and make my decision of how to proceed based on two things: 1) whether I think the PM even has the money to give me if forced to and 2) whether my contract allows the prevailing party to recoup legal and/or collections fees in case of a suit.

However i've picked up several nicer properties and have 6-8 parties per property willing to pay application fees to try and get a chance at the property.

Whatever the case regarding choice of word and definition of that, a key distinction about the activity of wholesaling is that I am selling my position to a third-party.. its not about doing it for the benefit of third-party.

So the next challenge when you are a third party is doing anything with the Mortgagee since it is not your account.

Giving work to your contractor or a listing referral helps all parties involved.

Mainly, as the buyer, there shouldn't be an acquisition cost difference to you using them or a 3rd party agent.

I think you can insulate your self from the 'hood issues via third party management.

Where the parties want to avoid having the lease/option recharacterized as a sale, the overall planning strategy is to avoid or minimize the above indicators of a deemed sale as follows: 1.

Then we hand the short sale off to our in-house agent and negotiator so that they can negotiate my offer and not an outside third party (that may or may not close).