Important new investor questions
Hello all, I am just getting into the wholesaling game, and had some questions that hopefully some will be able to shed a little light on. Preferably someone in California that is more familiar with the laws but all input is very appreciated.
1) where is the best place to get a purchase contract?
- I have been told it is easier on sellers to use a standard real estate purchase agreement from office depot as it is not intimidating to sellers and it makes them more comfortable, what are your thoughts?
2)Is the earnest money added to the contract price or taken away from the contract price, and when it is negotiated (the amount of EMD) is the amount agreed upon taken to the title company or given to the seller?
3)What is the best way to handle the cash buyer backing out of deal while it is in escrow to protect myself from any type of law suit of any sort?
4)How do you handle a seller that still has a mortgage on the property?
I hope these questions make sense and I look forward to the feedback, Thank you.