Wholesaling Pre-Foreclosure Properties in Mississippi

The short answer

Can you wholesale a pre-foreclosure property in Mississippi?

Generally yes, when the owner still holds title and the contract can close before the sale. Mississippi deed of trust sales are generally non-judicial, so the calendar is short. No wholesaler-specific statute was found. Check current text, confirm the sale date in writing and ask a Mississippi attorney about license rules. Always get the sale date from the notice itself, not from the owner.

Most Mississippi home loans use a deed of trust, and a trustee can sell at public outcry at the county courthouse without going to court. The statute commonly cited is M.C.A. 89-1-55, which generally calls for notice in a newspaper for three consecutive weeks plus a posting at the courthouse. Verify current text before you rely on any date. Our notice of default guide explains the first letter owners receive.

That short calendar is your pressure point. A seller needs a clear plan within weeks, and a buyer needs time to inspect and fund. Pull the loan balance with a payoff statement, then compare it with your numbers from the MAO calculator.

The opportunity

Why wholesaling pre-foreclosure properties in Mississippi works in Hattiesburg

Hattiesburg mixes student rentals, military families and long-time homeowners. Forrest and Lamar County prices reported by public sources run from the high $200,000s to near $300,000, which can leave real equity for owners who bought a few years back. Neighborhoods such as Midtown, Edgewood and West Hattiesburg, and the Oak Grove area in Lamar County, all see mixed ownership. A job change at the hospital, a base reassignment or a landlord who lost a tenant can leave a homeowner two payments behind with decent equity and few options.

Lead sources

Where to find pre-foreclosure leads in Forrest and Lamar counties

• Newspaper notices. Foreclosure notices name the trustee, the property and the sale date.
• Courthouse postings. The county courthouse holds posted notices for properties in that county.
• Lis pendens filings. Court actions can appear in public records. See lis pendens.
• Data lists. Review pre-foreclosure and tax leads.
• Direct mail. Plain letters respect call limits. See direct mail for wholesalers.

Your exit

Who buys pre-foreclosure deals in Hattiesburg

Cash buyers who can close in two to three weeks are the best fit. Landlords who serve University of Southern Mississippi and William Carey students often move quickly, and so do Camp Shelby area investors. Share the sale date with your buyer on day one.

Use a title company that can confirm the lien position and the payoff. Review investor-friendly title companies. If the loan cannot be paid off at closing, a deed in lieu or short sale approval may need to come first.

Step by step

How to start wholesaling pre-foreclosure properties in Mississippi

1. Verify the sale date. Read the notice and call the trustee office to confirm.
2. Learn the numbers. Ask for the payoff, taxes owed and any other liens.
3. Check the rules. Review TCPA rules and the state no-call database before any calls.
4. Price the offer. Use the ARV calculator and add repair costs.
5. Sign and disclose. Write a plain contract and say that you may assign it.
6. Find your buyer. Confirm proof of funds and timing.
7. Close before the sale. Give the title company the payoff and the sale date.

This worked example is an illustration. A nurse in Hattiesburg fell behind after a cut in hours. A notice of sale was published, and she had about five weeks left before the date.

You offered $155,000, enough to pay off the loan and leave her about $20,000 after costs. The contract gave 14 days to inspect and allowed assignment. She agreed in writing and your title company ordered a payoff.

A local investor took the assignment for $12,000 and closed nine days before the sale. The foreclosure never took place, and she moved with cash in hand.

Mississippi rules to know

Foreclosure, call and license rules

The Mississippi Telephone Solicitation Act, M.C.A. 77-3-701 and following, is run by the Public Service Commission. Its rules describe a state no-call database, solicitor registration with a bond, and calls only between 8 a.m. and 8 p.m. Central, not on Sundays or legal holidays. Civil penalties can reach $5,000 per violation. Check current text, since amendments were proposed in 2025.

Foreclosure steps come from the deed of trust and statutes such as M.C.A. 89-1-55. No wholesaler-specific statute was found. The broker definition in M.C.A. 73-35-3 still deserves attention, and penalties under 73-35-31 can include repayment of up to four times any fee. Ask a Mississippi attorney. See working with an attorney.

Learn it with a mentor

Learn to talk with owners in distress

Foreclosure conversations call for calm and honesty. We help mentorship students practice them and review the paperwork before it goes out.

FAQ

Pre-Foreclosure Properties in Mississippi: common questions

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