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Updated over 9 years ago on . Most recent reply

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Abraham H.
  • Fontana, CA
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Someone Please Help With Wholesaling Questions

Abraham H.
  • Fontana, CA
Posted

I'm 21, still in college, and fairly new to the industry. I have quite a bit of questions on wholesaling that I am dying to have answered. Someone please, with expertise, help me get these questions solved!

1. After you've agreed with a seller to buy there home and hence close the deal, would the purchase and sale agreement need to be verified by a legal attorney of some sort? Or can I just use a contract form I found online? *If so, where's a good place to get this contract.

2. After the purchase and sale agreement contract has been signed buy the seller and me (the buyer) I have 30 days to reassign this contract. When resigning the contract to a potential buyer/investor wouldn't they expect to take a look at the house from the inside and out? How do you manage to do this as you don't have the keys or have the deed to the house yet?

3. Say I bought a home under contract and found a potential buyer/investor who is ready to purchase. Would I need a contract different than the purchase and sale agreement to reassign the seller who sold me his home and the buyer who plans to buy my contract?

4. Do all the same rules apply for lands and lots as well?

Thanks for reading and your input!

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