I have been given some contracts and through indiana.gov i found (real property purchase agreement). I am a newbie to wholesaling, I recently went to my first INREIA meeting, and filed for my LLC. I started listening to the Bigger Pockets podcast with show #1 and am currently up to 50 something. I have been learning a lot. I just want to make sure i go about this 100% legal and legitimately. I am genuinely excited that I have found this new path in life. Through several instances this is where I have been lead. Thank you to anyone willing to assist me.
The contract your attorney drafts for you is the best one. You can't use the state contract unless you're an agent plus it doesn't have all the outs you need for when you can't find a buyer since you didn't get the house low enough.
I would love to know if anyone has a good contract as well! I am just getting started and have done one deal but would love to be able to feel more confident in my contract. I found one through BP but it lacked terms on proration and that came up in my first deal. @Chad Jett the contract in tools->fileplace maybe could be a good start but definitely needs some additions.
The contract your attorney drafts for you is the best one. You can't use the state contract unless you're an agent plus it doesn't have all the outs you need for when you can't find a buyer since you didn't get the house low enough.
I know this is a year old thread, but I get asked this question a lot. In agreement with @Adrien C. that it's best to have a Real Estate Attorney draw one up.
On the other hand........If you are looking to save some cash, here is a link to a wholesaler site with contracts available for download. I do not recommend using these unless yo get them vetted by an attorney. However, having an attorney review and correct a contract is way cheaper than having them create one (which the paralegal will do anyway). Just my 2 cents, hope this helps someone at least get an idea of what they should look like and contain.