Contracts needed in Wholesaling... HELP!
Hey Everybody-
Maybe this a dumb question, but I cannot find an answer, and hopefully you can help me out.
I live in Rhode Island, and am determined to get into the industry of REI. So far, I plan that I will Wholesale until I have built up enough capital to buy my 2nd milti, and then repeat and repeat, and repeat.
My question lies in the contracts required. After I determine this is a GREAT deal......
1. What is everybody using for the P&S agreements? My RE lawyer/Title co offers P&S creation, but I cannot seem to find a blank P&S. Is it standard practice to negotiate a price in person, then have a P&S drafted, or do I get the signature IN PERSON and get the place under contract? (I'm under the impression that I do not want to "snooze" and get the property under contract IF it is a good deal.)
2. Same question for the Assignment of contract form. I assume that this is easier and less complicated.
I have waged a full out war with marketing distressed properties, and leads are coming in. I cannot be unprepared when a great deal does materialize though......
PLEASE HELP!
thanks!!!