I am setting up this Post to help the new wholesaler/Investor in getting started in Real Estate. This is a series of links to help you with Contracts and know how
Ultimate Beginner's Guide to Real Estate Investing
Wholesale Investing Contract
Wholesale Assignment Contract
Purchase & Sale Contract
List of Contracts and other Agreements
@Gerald Harris This could not have come at a better time. Thanks a ton for this awesome information!
Have a great day!
thanks for putting this info all in one place. As a new investor trying to learn everything I can and love a one stop shop of info.
No Problem Parker. Have a great day
@ Gerald, this such a fantastic post! Thank you so much for putting this up.
I do have a quick question. Can you explain the difference between the contracts you have posted? (Difference between Purchase and Sale contract vs Assignable contract vs Wholesale Investing contract)
Thank you very much!
Purchase Contract is a flat out buying a property.
Example: A seller has a house for sale and you want to buy it. You write up a contract, get seller to sign and agree to sell to you.
Wholesale Contract is a Purchase contract with an (Assigment Clause)
(I agree to purchase and or assign) should be in the Wholesale Purchase Contract.
Assignment Contract is where you have an agreement to assign your equitable interest or rights to an end buyer. Typically a cash buyer.
Purchase contract and wholesale contract are 1 and the same. With your Purchase contract if you are going to be wholesaling you must have that (and or assign) you are assigning your equitable interest to a buyer/investor.
I think any contract is assignable unless otherwise stated. My guess is we add "and/or assigns" to make it stronger in case of litigation?
Very True Russell
This information is Golden!! Thanks alot!! I really like the fact that other investors are so willing to assist the "newbies".
Not a problem mark
Have a great day.
Thanks Gerald, couldn't be better, You always supporting this community with such a good information. Thanks Again!!
This came right on time!
Thanks a lot@Gerald Harris . These are very useful.
No problem folks
If you all have a question, post it on Bigger Pockets and I along with the community will do our best to answer it to help you succeed
Wow, this is incredible. I don't even know what I need yet, but I am sure I need some of this. :)
Hi Gerald, Thank you! Wow. Good stuff!! Yes.
Not a problem. Keep soaking up all the information on this site. It will help you
Have a great day!
@Gerald Harris thanks for your info. been looking for this I'm a newbie still trying to set up & soak up all info I like all my ducks in a row before I step out so I'm still setting up my business...thank you for your advise & info
@Gerald Harris Real handy thanks !
Thanks! Very helpful info for those of us looking to get into the game.
Not a problem folks
If you know someone that needs help, send them that link. Anything and everything you need to know about beginner your real estate investing career you can find here on Bigger Pockets
Thanks for the information, being new, this helps a lot.
Question though, since I am completely new, does anyone have an example of what this contract would look like filled out? Would like to ensure that this doc is being used properly.
Just What I needed
awesome! Thanks so much.