Updated about 2 years ago on . Most recent reply
Wholesale Beginner Need Help Please
Good Morning everyone! I'm so excited to get started with my real estate journey. I'm currently in college and I'm going to start wholesaling homes in order to create income. I am reading into everything and all of the steps, one thing I was told to do in a video was to practice filling out the contracts but I can not seem to find where to find the legal property description anywhere online. Is it required to put the legal property description on the purchase & sales agreement and also the assignment contract? Or do I not have to put this information? If I do have to put it on the contracts (which I assume to be true) where do I find the properties legal description? I am in Bergen County, New Jersey and decided to start locally. Any help is much appreciated. Thank you.
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Is it required to put the legal property description on the purchase & sales agreement and also the assignment contract? Or do I not have to put this information? You do not need to put the full legal description, which is about 4 paragraphs drafted by a surveyor, on the contracts; however it is customary to insert the lot and block number. I highly recommend https://njpropertyrecords.com/ and many of my investor clients use this and I even have it for myself. You pull up the lot and block on the county website or city tax assessor website – but that would be a bit of a pain to keep trying to find it and there is lots of value in NJ Prop beyond just block lot – i.e. last deed to confirm ownership, tax assessed value, you can click around to nearby properties, flood zone – all key public info in 1 place to pull up instantly
If I do have to put it on the contracts (which I assume to be true) where do I find the properties legal description? For lot block it is customary to add lot and block for specificity – which is important if you are doing a deal with multiple separate parcels with similar addresses; selling properties next to each other.
In my opinion - get your real estate license. You will learn useful information if you are new, don't have to sweat operating in a legal grey area, and you can have side hustle selling for friends/family.