What Is A Non-Disclosure State for Houses?
May 21st, 2021
In this article, you’ll learn how to flip houses in a non-disclosure state…
What Is A Non- Disclosure State?
In a disclosure state, when a house is sold, the sale is recorded on public record. That record includes the sale price of the house. This is important because as wholesalers, we want to look at recently sold houses to get comps. We need to be able to see what houses are selling for in our market, so we can tell if there is enough equity to make it a good deal.
In a non-disclosure state, the sale price is not recorded and made public knowledge. The only way to find out the sale price is through the MLS and the only way to get access to MLS is through a Realtor. Unfortunately, off-market sales (and some MLS sales) do not require a sale price to be entered when the house is sold, so even the MLS isn’t a complete list.
As of 2021, there are 12 non-disclosure states:
Alaska, Utah, Idaho, Wyoming, Montana, North Dakota, New Mexico, Texas, Louisiana, Mississippi, Kansas and just to keep us on our toes... Missouri (but only some counties).
In this YouTube video, Jerry Norton shows you how to flip houses in non-disclosure states.
How Do I Avoid Non-Disclosure States?
If you don’t want to deal with non-disclosure states, then the simplest thing to do is wholesale virtually! 2020 prepared us for virtual everything and made virtual wholesaling easier than ever.
Virtual wholesaling means you can find houses in a disclosure state, do comps online through zillow.com, realtor.com, trulia.com, or redfin.com, sign a contract virtually, assign the contract to a local buyer virtually, and close with a title company virtually. It’s that easy, and signing documents online is now the norm thanks to COVID. Check out this article for tips on how to choose a virtual wholesale market.
How To Get Started Virtually Wholesaling Houses
First, pick a disclosure state and start looking for houses there. You can search sites like zillow.com to find houses. Or, if you want to work smarter (not harder) and find houses the easy way, then subscribe to Jerry Norton’s Flipster software, which gives you leads in every market in the US. If you haven’t heard of Flipster, it’s a cloud-based software that helps you organize, streamline and automate all the steps to wholesaling and flipping houses. It also comes with millions of motivated seller leads across the country, including off-market leads in non-disclosure states. To learn more CLICK HERE.
After you find a deal, the next step is to analyze it and do your market research. This is where Jerry Norton’s Virtual Flipper Kit comes in. This kit tells you everything you need to know about virtually wholesaling houses, including the 5 considerations when choosing a market, and how to learn a market through online research.
In the kit, you also get a Virtual Walkthrough Guide, with a step-by-step breakdown of how to do walkthroughs without physically seeing houses in person. This is an important step because you need to be able to see the layout, determine the cost of the repair, and check out the neighborhood.
The kit also includes a Virtual Wholesale Guide where Jerry Norton goes into more detail on analyzing deals, making offers, and getting contracts without meeting sellers in person. This guide also includes Jerry’s process for finding cash buyers, assigning contracts digitally, and collecting your checks without going to closings!
CLICK HERE to get your copy of Jerry Norton’s Virtual Flipper Kit for free.
Watch Jerry Norton’s YouTube playlist HERE, where he goes into even more detail about wholesaling houses virtually.