ultimate list of legitimate classified websites for selling real estate in pa

The buyer will essentially take the place of a wholesaler in the contract, paying a fee to the wholesaler for being the middleman.Īlthough this is not the most cost-effective method of making a property purchase for a house flip, it can be very time efficient and may save money in the long run. Wholesalers are in the business of finding rehab properties, putting them under contract and then finding a buyer who will execute the house flip. Wholesalers are regularly buying and selling, but be wary of their markups! You can find them by doing specific internet searches for REO real estate agents and brokers within a specific geographic area. The key to finding them for your house flip is to work with a realtor who has the inside track on these real estate listings and new rehab homes on the market. Many lenders and loan servicers align themselves with a small group of realtors that specialize in selling these types of properties.

As a result, many of these properties are priced lower than the surrounding homes due to their neglected conditions, making them ripe for a house flip. In addition, the prior occupants probably did very little to care and maintain the property during the pendency of the mortgage default, foreclosure and eviction. Most of these homes will have gone through an extensive foreclosure, and perhaps an eviction process. REO stands for “Real Estate Owned” and refers to property that is held by a lender or guarantor as the result of a defaulted loan. Hiring an agent that specializes in REO can also be an efficient way to find rehab properties for your house flip. An agent will know the best places for flipping homes, which will allow them to quickly filter options that apply to you, and provide additional real estate investment advice for your property purchase and house flip.

If you aren’t too familiar with the area, consider adding an agent to your flipping team.Īcquiring an agent can be an effective way to fast track or your search for a house to flip. Now it’s time to find properties that match what you’re looking for. So you’ve learned about the market and decided which type of property you should invest in.

Ultimate list of legitimate classified websites for selling real estate in pa