Hello bigger pockets community. Im not clear on how a wholesaler puts a house under contract to sell to invester?

Essentially as a wholesaler you sign a contract with the seller which gives you the right to assign the contract to someone else.

Then once you have found a buyer, you assign them the contract.

Go on Youtube and do a search on wholesaling there are plenty of videos which explains how it is done.

if you fail to sell it congratulations on your new purchase

Okay Got It. Thanks

@Urban McFarlane you basically make an offer, the seller and you agree to the terms, a contract is sent to both parties and then signed. Once it has been signed you are "under contract". Are you looking to buy from a wholesaler or to become one?

@Russell Brazil any advice?

Originally posted by @John Thedford :

@Russell Brazil any advice?

 Id suggest coming out to the Gaithersburg meetup (actually located in Rockville) to learn the pluses and minuses of wholesaling. It is this upcoming Tuesday.

https://www.meetup.com/Gaithersburg-BP-Real-Estate-Meetup/events/246641913/

There are plenty of versions of assignment contracts in the documents section at BP... check them out.  Probably have your attorney check them out for alignment with state regulations/code.

Good luck!