Broward Wholesale Properties
The Broward Wholesale Properties list has moved to it's new location at: www.broward-properties.com/wholesaleproperties.html
You can also find the wholesale properties page at: www.SouthFloridaWholesaleProperties.com
A Wholesale Property is a piece of Real Estate that is sold either, in distress or with needed repairs. Generally to purchase the properties Cash or Hard Money is required, either due to the urgent sale of the property or it's state of repair.
A property can be in distress due to numerous circumstances; foreclosure, home owners are in divorce status, homeowner loss job, a death in the family, or several other reason.
These Wholesale Properties are normally not sold under conventional means. Most investors that locate these wholesale properties generally secure the property with a contract for purchase. They either sell the contract (assignment of contract) or are looking for a same day resale (flip) on the property.
An assignment of contract is pretty much what it says, the contract the investor has on the property is assigned to the end buyer for a fee.
Flip is when the property is purchased and sold the same day by the investor. The investor buys the property from the Sellers, and resells the property to another buyer the same day. Generally cash or hard money is required for this type of transaction as most conventional lenders will not approve this type of sale.