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Updated about 8 years ago on . Most recent reply

User Stats

54
Posts
36
Votes
Bryan Chuchta
  • Wholesaler
  • Raleigh, NC
36
Votes |
54
Posts

Wholesale documents in NC

Bryan Chuchta
  • Wholesaler
  • Raleigh, NC
Posted

Im new to wholesale and Im not sure what contract(s) I should use for my deals.   Are there other documents I will need once the deal is struck?  Ive sent out my first mailer and am hopeful, but I also want to make sure i have whatever docs I need to lock in the sale at the time.

Do wholesalers need to make escrow deposits?  If so, Is there a rule of thumb for how much?

Do any NC Wholesalers have electronic documents they use for deals they would be willing share with me? 

Thanks in advance

Most Popular Reply

User Stats

9,365
Posts
6,552
Votes
John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,552
Votes |
9,365
Posts
John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

What about cash to close if you cannot find a buyer? Do you have escape clauses such as "subject to my partners approval" and other valuable language to get you out of the contracts? Signing contracts with no ability or intention to close is FRAUD BY INDUCEMENT. 

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