For New York, can anyone help me out on how make or get a purchasing agreement contract used for wholesaling?
-Little earnest money
-A way out (exit clause)
@Carter Baron your best bet is to pay a guru 20-40k to learn their system and hopefully they have one you can use (kidding don’t do this)
Does BP have something like this in the marketplace ?
Well, if you want to enter the business using lies and deceit there are many that won't be of much help. These tactics are bottom of the barrel.
My advice is to go to legalzoom.com and pay $100 for a purchase and sales agreement and have them customize one based on your needs. My guess is that you are going to be a buyer in most of your transactions so you would probably need one that protects your interested as a buyer (something that your state contract probably won't do).
Entering contracts with no ability or intention to purchase is called FRAUD. If that is required in a business, something is wrong.
The two contracts I have been involved in here in NY, the buyer doesn't create it, the buyer submits a binder and then the sellers attorney sends along the contract. This isn't to say it has to be the way it is, but it's the way I have been involved in it.
What kind of "exit clause" do you want? Do you intend to play it as a buyer but in actuality have no intention of buying?
Any real estate contract is "fine" as long as it is assignable, and you have an escape clause. Of course, use my meaning of "any" carefully ^_^
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