I am doing some research and footwork at the same time here with the market in Nashville. The East Nashville and Nations/West Nashville Market is tight. I have a property in negotiation right now and could use a few tips on the contract language to be used for Wholesaling the property. The sellers seem to be good people that are just finally letting go of an unnecessary burden and I want to do right by them. The comps in the area are great for an investor to make a great profit and there's an extra lot in the deal for expansion possibilities. I guess the real issue that I have right now is a lack of the technical know-how. Best methods for proceeding? How should I write the proposal?
There are some great documents already here on the site: http://www.biggerpockets.com/files/category/contra...
You will want to modify them to fit your current situation but they should cover most of what you're looking to do. Then find a title company in your area, check out Investors Title or Old Republic Title.
I hope this helps!
I would think a state contract would be a good starting point.
I would think that you need an inspection period.
I would think that you need the contract to be assignable.
I would think that you need to disclose you are not going to live there, but rather profit.
I would think you should get a GOOD Real Estate Lawyer.
Not legal advice... Just off the top of my head.
@DaVon Brooks send me a message and I will send you the purchase and sale agreement we use with all technical language that you need
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