Ready to Do my First Wholesale. Seller is Ready To Sell

[Rich Hupper]

Hello Biggerpockets!

 I have found my first seller who is ready to sell. They have lived in the property for many years and I do not believe they have a mortgage. 

I know a little bit about wholesaling however I do not know everything. Can someone tell me which contracts to use, how much earnest money I should submit with my offer, how long should my due diligence period be, how do I find someone to assign the contract to, what disclosures I should use in my offer. 

The property is located in Cambridge Ma. and currently assessed by the town for $850k. I am not sure how much I should offer however on the open market I am sure top dollar would yield around 1.2 million. The property is in need of massive updating. Or possible tear down and rebuild. 

Thanks Biggerpockets!

[Jay Hinrichs]

@Jason McDougall  this is just shocking to me.. 10 dollar EM  100. EM holy cow

partners approval... go out and try to flip a property but do not even know the basics.

No wonder the states are starting to crack down on this activity...

But its America right