Marketing Clause in Wholesale Contracts.

6 Replies

Has anyone ever had an issue or use any verbiage in their wholesale contracts giving permission to market the property?  

Originally posted by @Mark Harris :

Has anyone ever had an issue or use any verbiage in their wholesale contracts giving permission to market the property?  

 That is a violation of FL law. One cannot market properties they do not own unless licensed. Sellers cannot give faux buyers the right to violate the law. 

@John Thedford Thanks John, I am licensed.  Asking from a wholesale point of view.

We haven't had any issues but I would feel better knowing I'm covered on that side.

When we have a deal under contract and equitable title we assign our rights to the end buyer. 

Do see a problem with that and problem when presenting the deal to cash buyers? 

As a licensee no issue. You DO know the fees must pass through you broker? Personally I don't "wholesale" as I would rather buy the property and hold it for residual income. 

@Mark Harris just to let you know , anything that has wholesale in the subject John will say something negative about so he’s not the best person to take advice from. Just check other threads and see how nasty he is towards others!