Wholesaling Real Estate Contracts

Rental Property Investor · Goldsboro, NC · Member since 2019 · 44 posts · 33 votes

Quick Auestion? What is the best contract for a Purchase & Sell Agreement ive seen alot but they are all diffrent. Even the ones for NC but i dont think its for someone Wholesaling. Another thing? How do i protect myself in the contract? How do i put it so i dont get stuck with the property? Or stuck having to pay it?

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Jerryll Noorden

Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes

Originally posted by @John Thedford:

Originally posted by @Jerryll Noorden:

Originally posted by @Christopher Smith:

Don't mind him. I think a wholesaler killed his cat or something.

I am destroying a fraud this week. Sending a seller a copy of an ad on their house they think is sold. Should be fun exposing the crook!

Unlicensed broker frauds can't stand the truth and being exposed.

Honestly, I love that you take it upon yourself, to be the vigilante to expose the frauds. But may I suggest something.

I think, that you make too quick of an assumption that people are frauds. I have seen you attack people that asked a question about wholesaling, WHILE they have a real estate licence. Why not first figure out whether they are frauds or not before you go all out attacking them.

Just now someone asked if it is a good idea to have a website marketing for motivated sellers and your response was immediately that it is illegal marketing properties without a licence, but she was not at all even asking about marketing properties. She was asking how to FIND properties.

So sure dude, thank you for looking out for us, hell, get a pink cape and a mask if you like.. but calm down a bit no?

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Tim G.
Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
6y
Originally posted by @John Thedford:
Originally posted by @Tim G.:
Originally posted by @John Thedford:
Originally posted by @Tim G.:
Originally posted by @John Thedford:
Originally posted by @Tim G.:
Bigger Pockets wholesaling forum post breakdown.

Actual answers from active wholesalers 1/10 responses

Responses from non wholesalers on a crusade to educate from their perspective 9/10 responses

Filter accordingly and be aware what you are trying to do is a big gray area and could be illegal. But you aren't the pariahs of real estate made out to be here in this forum. Scum bags exist in every field on real estate island, don't be one.

The only answer from a LEGAL licensed wholesaler was from Marcus. The other answers were from unlicensed brokers skirting the laws and pushing their propaganda.

How do you feel about bigger pockets being a platform to share this propaganda, for example Max Maxwell being on BP Business Episode 15. You are a paid subscriber to a platform that promotes and makes sharing this information much easier.

BP is not just a platform about legal licensed wholesaling or otherwise. Some of the more common propaganda comes from unlicensed brokers extolling the virtues of their actions and stating they can do a better job than a licensed agent. There is no correlation between a legal licensed operator and those skirting laws to broker without a license.

It seems you've chosen to avoid answering my question. I'll have to assume you aren't comfortable answering it.

My bad. I don't agree with some of it. BP has a lot more to offer than that. Should I cancel my paid subscription?

That's your choice to make, but with the effort you make into communicating your views on the legalities of wholesaling. It does seem like more effort is being placed on those coming here to take in the information than to the source supplying and promoting it. You're supporting the website but chastising those frequenting it, it doesn't seem congruent.

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