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Updated over 12 years ago on . Most recent reply

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Matthew Newman
  • Northridge, CA
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I Got a property under contract

Matthew Newman
  • Northridge, CA
Posted

Can I use the same type of contract when signing with my end buyer? or do I need to switch it up the contract when I sell the property?

Also, do I now need to take the signed contract to the escrow company? or do I wait until I have the second contract in place?

Thanks.

Best regards,

Matt

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Kaz P.
  • Investor
  • Chicago, IL
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Kaz P.
  • Investor
  • Chicago, IL
Replied

Mathew As I understand it

When you a have house under contract it is advised that you get the contract to the title company that you're choosing to close the deal right away to begin title work. Your B to C transaction would be secured with a assignment contract if you are wholesaling.

If you are doing a double close you would more than likely have to use a purchase and sale agreement for both transactions. Waiting until you secure an end buyer will eat the clock up therefore having less time to close for your end buyer.

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