Updated over 9 years ago on . Most recent reply
How long should my purchase and sale agreement be?
When wholesaling where do you guys get your contracts from? Do you just write them up yourself? and what kind of stuff needs to be in there. I know there needs to be a financing clause but what other kind of stuff? I know there are other threads that touch on this topic but I was hoping for a little bit of direct back and forth interaction for I can really feel comfortable when that first call comes in. I wanna be able to atleast APPEAR that ive been doing this for years! Help!
Most Popular Reply
Use your State Association of Realtors' contract unless you have a very good reason not to.
To make up your own contract and know it will work, you need at a minimum...
- A real estate lawyer to review it.
- A title company to review it to ensure they will insure title.
- The compliance department of a Fannie/Freddie lender to review it, to ensure they will go for what you made up, assuming a financed end-buyer. Note that this isn't going to happen without a live transaction, which implicitly means that live transaction is at risk.
For Californians, CAR RPA.