Can I wholesale an REO?


Yes, but it requires slightly different paperwork. Banks usually cloud the title with at least a 30 day non-transfer clause to discourage flipping. If you set up an entity specifically to make offers on bank REOs, once an offer is accepted, stop making offers using that entity. Once you find a buyer, you can then transfer ownership of the entity to the buyer instead of assigning the contract. That way the same entity is buying the property throughout the entire process from the bank.

Knowledge Tags: Entity, Foreclosure, REO, Wholesaling