DAllas homes for sale / Dallas real estate

By
Real Estate Agent with David Ellis Real Estate

If you are thinking about buying some Dallas real estate and or some Dallas homes for sale then you need to go ahead and check us out and we will do our best to help you with everything along the way.  These Dallas homes for sale on the market right now will not last for ever.  So if you are thinking about buying you should do it right away and it will help. 

Posted by

Austin

I am always looking to build real estate links to my website.  I own mobilehomesforsale.com.  As well as many other real estate websites....  message me and we will work something out thats a win - win for both of us

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Texas Dallas County Dallas
Groups:
Realtors®
The Lounge at Active Rain
Posts to Localism
Dedicated Bloggers
Dallas Realtors
Tags:
dallas real estate
dallas homes
dallas homes for sale

Spam prevention
Show All Comments
Rainer
54,749
Chad Baird
Re/Max Spirit - Dayton, OH

I deal with several wholesellers who do this.  I would question why your's does not already have a hard money lender available, they must be just starting out. 

Wholesellers typically want to do double closings.  They need to deposit funds with the escrow company for the purchase and reclose on the same day.  So they buy a property for 100K and have it sold for 120K prior to ever owning it.  So they pay 120K, the new seller pays 120K they wholeseller walks away with 20K on a property they have never "officially" owned. 

There are infomercials out there that teach this.  Your wholeseller will likely fail miserbly.  A true wholeseller will already have their funds in place and not use hard money lenders. 

It is legal.  You just have to be careful in that it can appear that you may be skating into the thin ice of ethics though as a Realtor®.  Worth your time??  I do not see it coming together as hard money lenders are very stringent on investment deals unless the buyer can prove his ability to repay in a few days, even then its a unsecured loan as the wholeseller is technically only selling an option to purchase contract and not a property because they do not own the property they are trying to sell. 

Jan 29, 2009 02:28 AM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
95,564

austin ellis

Ask me a question
*
*
*
*

Additional Information