I'm looking to start my career off as a wholesaler in Indiana but I am very confused on what contract to use. I looked in the "resources" and "fileplace" but there is so many contracts that I don't know which one to use.. Can someone show me the exact one to use for wholesaling and for general purchase.?
Seems as no one wants to help out when i ask this question before.
Your best bet is to grab a random generic contract from the fileplace, have an attorney in your area look it over, and make changes so you're protected.
You can use any Purchase and Sales Contract (PSA) . The key is that it is Assignable in your state. Generally it just requires a sentence somewhere in the PSA that says it is Assignable.
The simpler the contract the better so as to not confuse the Seller. My PSA is just 1 page long.
You will also need an Assignment of Contract to be able to sell your deal to an investor buyer.
When I was just getting started I went straight to a highly recommended closing attorney in my area (Halperin & Lyman), sat down with the closing specialist, and said "when I close my next wholesale deal I want to use you, what do I need in my contract to double close/assign it?" she gave me 3 must haves.
I searched for days trying to find what the best contract to use might be, with a simple phone call and short meeting, got all the answers I needed. Don't waste time trying to find the perfect contract, when someone is willing to give it to you.
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