Posted by Charles Parrish on April 09, 2006 at 15:39:11:
Yes, it will work, but you have a long way to go before it is successful.
You need to be 98% sure that it is a wholesale deal first.
Sure you should do a lien and title search after you control the property and I would get a local agent to you you a BPO first. You should have a home inspector give you a quick valuations also. Do this after your Broker Price Opinion.
Charles
Flipping (State to State) - Posted by Larry
Posted by Larry on April 08, 2006 at 15:32:24:
I guess my question is: If I live in KY, saw an ad for property in Indiana, could I fax a bill of sale to tie up the property and place it on Bid4assets to find a buyer? Then when a buyer is found (in yet another state), could an assignment of contract be faxed to the buyer and a simultanious close be done from wherever the buyer is? Are faxed documents for a transaction such as this legal?
Re: Flipping (State to State) - Posted by lukeNC
Posted by lukeNC on April 08, 2006 at 16:22:06:
thats a great idea…
Fax a purchase agreement to the seller, be sure to make it fully assignable. Get it signed, Put it on bid4assets and saying you are selling your “contract” for cash, explaining all the details.
I dont see how this couldnt work. You’d have to work out the title search issues though.