Which contract should a Realtor use to wholesale a deal?

[Jerrold Stallworth]

Hi all,

can anyone tell me if when one is a Realtor who is wholesaling a deal, must I use only the contract that is sanctioned by the Realtor Association in my area jurisdiction (with an addendum stating that the contract will be assignable) or can I, as a Realtor, use a regular assignable contract?

I welcome input from any and everyone but particularly anyone who is a licensed broker in the Chicago area who has wholesaled properties.

Thanks in advance.

[J Scott]

I would speak with your broker and see what their requirements are (most likely you can legally use any contract per the Real Estate Commission, but your broker or the local association of realtors may have a restriction). Your state contract is assignable, though you may need to add a stipulation to make it so.