Is there more than one type of contract in Wholesaling?

4 Replies

What is the best type of contract that you want use when you are buying a property from a seller and offering to an investor?

Hey @Carlos Rosas !

I don't know the answer to your question, but I do have a suggestion.

Have you set up your keyword alters yet? You could set "wholesale contract(s)" as a keyword and get notified when someone mentions it, then proceed to ask them your question in a private message.

Best of luck friend!

There are many different types of contracts that one could use to wholesale a property. The most straight forward way is to use a purchase-and-sale agreement. Then actually close on the thing (with money). And then sell it to someone else. But I'm guessing that you are referring to wholesaling via assignment of contracts. Still, this can be done with:

purchase and sale agreement

option agreement

lease-option agreement

land-contract

etc, etc, etc

@Jaren thanks man that's a great idea.

@Bryan L. , yes that's what i am talking about. I guess i am confused about how you sign your name on a purchase and sell agreement, and then give that agreement to someone else.

How do you sign for it but yet someone else closes on it?

@Carlos Rosas - Generally speaking, if the contract does not say that it is not assignable, then you can assign it. You will probably have a separate "assignment of contract" contract to do the assignment - between you and your assignee.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here