Contracts in wholesaling

[Marjo Naci]

What contracts do you sign as the wholesaler? Should I sign "Purchase and Sale Agreement " with the seller and "Assignment of Contract Agreement" with the buyer or what? Thank you

[Daniel Paloscio]

Yes, thats correct if you are planning on assigning the contract. If you are doing a doing a double closing you typically will want to sign a PSA with your seller, then a new PSA with your end buyer. You would do this in circumstances where you cannot assign, like selling to a hedge fund buyer, selling a HUD home or in circumstances where you do not want to disclose your fee to buyers or sellers.