New to Working with Wholesalers, Question on Contract Terms
Hello all,
Title describes it, I'm trying to find wholesale deals in North Carolina. I found what I thought was a deal. The contract was pretty sloppy, but 2 items in the contract really surprised me. They requested indemnification and they refused to be held liable if the title search failed to find something. That ended the deal for me.
I've found what I think is another good deal that I'm about to pursue. Should I expect to see these in the next contract? Are those common terms found in wholesale contracts?
Most Popular Reply
Hey Mike, good move walking away. As a wholesaler in NC, I see this all the time. Many wholesalers throw together sloppy contracts with extreme disclaimers to cover themselves, but that isn't how professional assignment deals should run.