OfflineI am building my buyers list and I had a buyer contact me today that said, "We already have financing in place through FHA up to a certain amount. Property cannot be a mobile or manufacturerd home." Will I be able to assign a contract to this buyer or will I have to do a double close or what? Is the fact that they have this type of financing a good thing or can it be a hindrance to my wholesaling strategy? Any help or suggestions are much appreciated!
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It is more difficult to wholesale to buyers that are using financing. Banks that are lending the buyers money to buy the property will not lend money for an assignment fee. In order to get paid for a none cash buyer you will need to have a contract on the side and get paid outside of closing for your finders fee.
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