Where to find the literal contract

Where to find the literal contract

Member since 2024 · 5 posts · 0 votes

I would like to know where do you get the contract and what exactly to put on the contract I already have seller and buyer 

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Real Estate Broker · Medford, NJ · Member since 2018 · 236 posts · 177 votes
1y

@Terence Morgan Are you an agent? If so, your brokerage provides that. If you’re not, then this post sounds like you’re acting as one which is illegal without a real estate license. If you’re trying to wholesale then you need an assignable contract which you should have an attorney prepare. I think you should be doing a little more research before doing whatever it is you’re doing.

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  • Ned CareyPro Member
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    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    1y

    @Terence Morgan there is an area here called the "FilePlace" which has various files and contracts. Honestly many of these are a dubious quality. There is no such thing as a standard contract. 

    \You need 2 contracts. 1 is your contract with the seller that gives the specific terms of sale for the property. Then you have an "Assignment" contract. This contract is essentially where you sell the first contract to the end buyer. 

    You really should talk to an attorney to prepare contracts for you. you should also learn about contract law so that you understand what you are signing. 

  • Member since 2024 · 5 posts · 0 votes
    1y

    Thank you so much I appreciate it 

  • Real Estate Broker · Medford, NJ · Member since 2018 · 236 posts · 177 votes
    1y

    @Terence Morgan Are you an agent? If so, your brokerage provides that. If you’re not, then this post sounds like you’re acting as one which is illegal without a real estate license. If you’re trying to wholesale then you need an assignable contract which you should have an attorney prepare. I think you should be doing a little more research before doing whatever it is you’re doing.

  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    1y

    @Michael Brattelli wrote   
                   "If you’re not, then this post sounds like you’re acting as one (an agent) which is illegal without a real estate license."

    @Terence Morgan this is something you should be aware of. Many states are starting to adopt anti wholesaling  laws. Generally it is perfectly legal to assign a contract. If you tell the seller you will find them a buyer then in most if not all states you are acting as a broker without a license.  The gurus that teach this stuff leave out little details like, it could be illegal. 

  • Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
    1y
    Quote from @Terence Morgan:

    I would like to know where do you get the contract and what exactly to put on the contract I already have seller and buyer 

    It depends on which state the property is in. 
  • Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes
    1y

    RCIC has them. You can literally prompt it to bring up any contract in any state, then add the specific information while doing county searches, skip tracing etc all within minutes. 

  • Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes
    1y

    You also need to be compliant with states like Oklahoma, Colorado etc. Colorado is gearing up for the strictest wholesaling regulations to be made law in 2026 thanks to Rep. Javier Mabrey who hates real estate investors and blames them for his Mom and brother being evicted separately. 

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