Filling out contracts when wholesaling

4 Replies

I am meeting with a seller tomorrow to look and walk through a rental property that he is very motivated to sell. If we can come to a offer This could be my very first deal wholesaling, but I am nervous about filling out the sales and purchase agreement with the seller when we come to a offer. I don't want him to think I'm clueless and don't know what I am doing. I am in Colorado and have reviewed and read through the 17 page contract to buy and sell real estate (residential) but am confused on what all I have to review with the seller and what I do and don't fill out. Do I fill out what I know already before I sit down and sign with seller? Do O get a attorney to review the contract before or after the contract is signed? To make sure I use the right verbiage and it is correct? Sorry I am very new and do not want to screw up with a legal contract.

I would suggest that you consult with a local real estate lawyer, who can explain the contract to you so you can complete it properly. If you come to an agreement with the seller, you can say that you'll have the formal contract prepared in a couple of days for the seller. Do not sign a contract that you are not familiar with! You may end up in more hot water as a result.