Are all my ducks in a row here?

[Brittany Adams]

I’ve been focusing my studying on Wholesaling Pre-Foreclosures lately. I’m ready to take that leap, but I want to make sure I have everything lined up correctly first. Please fill holes where you see fit. With the auction deadline in mind, of course. 1. Get the property under contract with P&S 2. Find buyer 3. Add fee and assign to buyer w/assignment contract. 4. Close before auction date. (Seller’s proceeds pay off back taxes and liens first, then he/she receives the rest) Done...? I’d also like to add in an option and a clause where the seller may also find a buyer if he/she can, as to not tie up the property when it can be sold if I don’t find a buyer.

[John Thedford]

If you are not prepared to purchase why would you sign a contract stating you are. People in foreclosure are very vulnerable. They are under duress and possibly looking for a solution not an empty promise. Signing purchase contracts with no intention to purchase is called fraud.