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Updated about 8 years ago on . Most recent reply

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17
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2
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Phillip James
  • Accokeek, MD
2
Votes |
17
Posts

Wholesaling Contract

Phillip James
  • Accokeek, MD
Posted

Hello all,

I'm a new wholesaler in Maryland and may be getting my first house under contract tomorrow. What documentation, other than the contract, should I present to the seller after we agree to terms? Any assistance that you can provide will be greatly appreciated!

Most Popular Reply

Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
1,470
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1,857
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Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
Replied

You only need a well written easy to understand with all disclosures, creative and skinny contract of sale!

  • A well written short contract offer could be consider a work of art, a document that has made many people wealthy.
  • Selling (assigning) real estate you don't own is the highest form leverage and wealth that can be achieved. 
  • Controlling real estate (commercial, houses and non-conforming) without a legal obligation to close and subject to assignment and delayed settlement is a great, almost magician system of making profits!
  • No need for funding.

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