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Real estate Question Can you define “wholesale real estate”

Real estate Question Can you define...
Real estate Question
Can you define “wholesale real estate” & “Bandit”sign? Also, are bandit signs legal in Michigan?
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Answered in 1 minute by:
3/27/2018
legalgems
legalgems, Arbitrator
Category: Real Estate Law
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Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

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Bandit signs are regulated by local city/county ordinances and may or may not be illegal (though they are illegal in most locales) -for example please see:

https://library.municode.com/mi/lyon_charter_township,_(oakland_co.)/codes/code_of_ordinances?nodeId=CD_ORD_CH48ZO_ART16.00SI#!

Wholesale real estate is when a person/company purchases the property from the seller, and then (or while the contract is pending) markets it to potential buyers, ultimately closing a profitable contract with one of the buyers-giving the wholesaler the difference in price between the price s/he paid to the owner, and the price paid by the subsequent buyer.

legalgems
legalgems, Arbitrator
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