Working with a Realtor and the Contract to use when wholesaling.

9 Replies

Hi my name is Matt and I'm a wholesaler in Sacramento CA. I have a Realtor that is willing to write offers for me and submit them to the listings on the MLS however my question is can I submit the offers using my typical wholesale contract or does it have to include the agent some how, or do I have to use a CAR Form?

Any help or advice would be apprciadted.

Thank you

Originally posted by @Matt Iacovazzi:

Hi my name is Matt and I'm a wholesaler in Sacramento CA. I have a Realtor that is willing to write offers for me and submit them to the listings on the MLS however my question is can I submit the offers using my typical wholesale contract or does it have to include the agent some how, or do I have to use a CAR Form?

Any help or advice would be apprciadted.

Thank you

 Good question Matt. I would also like to know.

your agent didnt know? I assume your agent is submitting it to an agent listed home, so id guess its a requirement to use the dre ones

would you include a contingency for assignment if not in the standard contract?

yes. I've done wholesale deals before with my contract and it has all of my out clauses in it just never with a realtor.

Yes, he'll have to use the CA realtor contract for listed properties.  I'm sure he knows this.  You need to familiarize yourself with it.

Are you going to be able to show proof of funds if they ask?

Joe Gore

Most of my wholesale deals were through a Realtor in PA. .....You would sign a standard contract with your name and "and/or assigns" after your signature. This will legally allow you to assign that contract to your buyer. Your wholesale contract would then be signed by you and your buyer and attached to the original Real Estate contract.

Hopefully you have a good Realtor that can explain the "and/or assigns" to the seller's agent when you make the offer, you may get some negative reactions. And, of course, when you sell the contract it will just boost the confidence of your Realtor and make it that much easier the next time......

Originally posted by @Jon Frame:

Most of my wholesale deals were through a Realtor in PA. .....You would sign a standard contract with your name and "and/or assigns" after your signature. This will legally allow you to assign that contract to your buyer. Your wholesale contract would then be signed by you and your buyer and attached to the original Real Estate contract.

Hopefully you have a good Realtor that can explain the "and/or assigns" to the seller's agent when you make the offer, you may get some negative reactions. And, of course, when you sell the contract it will just boost the confidence of your Realtor and make it that much easier the next time......

 Thanks also

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