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Wholesale Purchase & Sale Contract

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Hey guys and gals. Hope all is well with your RE Business ventures. This is a contract for the Purchase & sale of real estate in wholesale transactions. This is very detailed but simple to use and if need be you can easily change some of the verbiage to cater to your business needs. Hope this helps your business become more efficient!

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Anyone have issues from sellers being confused where the contract states that the purchase price is "Net"? If they have a mortgage to pay off that's on them, amount they receive from title company will be less if mortgage is paid off at closing. Not really Net if that has to be paid off as well. Am I missing something? Any experience with sellers thinking different?

Keith Shadle | about 3 years ago  

Any updates on the "subject to"?

Brock Lile | over 4 years ago  

Equity to my understanding is the (value of the property - the amount owed on the property.) Get the seller to give you the amount and you could verify it by due diligence i.e (zillow input of property data, etc) If you have a better explanation, please inform us

Yemi Babarinsa | almost 5 years ago  

No, subject to is a technical term when you purchase a home subject to the seller retaining the existing mortgage.

Etienne Toussaint | over 5 years ago  

Has anyone used this contract in New York City?

Chris D. | over 5 years ago  

Equity slot,remains a mystery

Edgard Diaz | over 5 years ago  

this contract has 2+ weasel(escape) clauses, you should all be safe if you have to back out

William Smith | about 6 years ago  

What happens if you get a purchasing agreement for a house and don't have I buyer for it, or the buyer backs out on you?

Abram Edawrd Inman | about 6 years ago  

I third Rashad's questions, can anybody clarify? I'll repost his question: What do you put in the following categories: -Equity? -Subject to, and the "$______" slot?

Mohammad Haidarasl | about 7 years ago  

Hi can I use this in Florida and would it work for a commercial property? Mobile home park?

Angel Ruiz | over 7 years ago  

so if I put Subject to cupcakes raining from the sky, its a safe escape clause?

Kevin Kohler | over 7 years ago  

so if I put Subject to cupcakes raining from the sky, its a safe escape clause?

Kevin Kohler | over 7 years ago  

Nothing happens when I try to download the file??

Account Closed | over 7 years ago  

I believe the "subject to" is what's known as a 'weasel clause'. You can essentially put anything you want there...a lot of people will include something like "subject to favorable financing" or "subject to business partner's approval" to give themselves an easy back-door out of the contract should anything go wrong.

Aaron Ormiston | over 7 years ago  

I have the same question what goes in the subject to?

Wilmer Feliciano | over 7 years ago  

Will this contract work in California? Thanks in advance!

Brad Turley | almost 8 years ago  

Does anyone know; if this contract would work for deals in New York? I can edit a few items on the contract. But I just wanted to know, before I attempt to take it down to a court house. An advantage, can be a beautiful thing.

Raymond Weston | over 8 years ago  

i think the subject to may be the earnest money, equity would be sale price less earnest money?...but thanks Ryan

Armando Ramirez | about 9 years ago  

We successfully used this contract and simply just removed that line.

Ryan Dossey | about 9 years ago  

I second what Rashad asked. Any ideas?

Chris Campbell | about 9 years ago  

What do you put in the following categories: -Equity? -Subject to, and the "$______" slot?

Rashad S. | about 9 years ago