What Forms to use when doing a Wholesale

Question

Hello Everyone who may be reading this, I have been just reading up on real investing for quite a while now and plan on starting it in 2009.

But my question is this What forms will I need to use when doing a wholesale deal? I know Im suppose to use an assingment of contract when assigning it to another investor but what do I use to put a property under contract with the Seller?

That's what I am not sure of. Please advise. Thank you

Eric Medemar · Answer

The way that assignments are typically handled is that you are going to fill in the original P/A as you normally would except for  the spot where you sign your name will say "your name and/or assignees"

Also be sure that you have an escaped clause built somewhere into the contract in case your buyers happen to fall through.

Once you have the home under contract with an assignment an assignment clause then you can use an assignment for to assign your interest in the contract to your buyer.

Once you have assigned the contact you are no longer obligated to follow through on the contract.  I would recommend helping the deal along though.

Because in many cases you will not be paid until the closing.

Best of luck, I am sure you'll do well

Chris Coughlan · Answer

You'll need a offer contract as well with a contingency clause based on inspection/financing etc.

Robin Vidovich · Answer

Breau,
Google the words "assignment contract".
Tons of stuff pops up and some of it is free.

Robin

Breau Williamson · Answer

What information would the Assignment to investor form need to contain? Thanks.

Courtney S · Answer

Thank you!

Jonathan Rexford · Answer

Purchase and Sale agreement with seller and Assignment to investor