OfflineI need help understanding how to wholesale a owner seller deal that listed on the MLS. I have an agent and need clarification. Is the only way through an IEE.
If so a brief walkthough of how this happens would help. I have the IEE disclosure form and discharge of agreement form downloaded. how does this all come together and how do I get paid and more importantly how does my agent get paid if we cancell my contract and the end buyer signs a new one.
__________________
All you have to do is make sure the contract that you get on the property is an assignable contract then assign that contract using a second contract(the assignment contract)to your buyer. Take both contracts to the title company and set a closing date. Thats all.
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Ok great thats what I thought was correct and today I got caught up in this IEE thing. what is an example of the best place to use the IEE if ever. my agent will be compensated even though I assigned the contract? and you seem very knowledgeable im sure through a lot of hard work but can you offer any info on paying taxes as a wholesaler and how much do we pay on these deals?