Updated almost 5 years ago on . Most recent reply
Wholesaling in NJ - what's the process?
I am interested in wholesaling a property in northern NJ. For those who wholesale in NJ and beyond - what is the process? Mainly, what legal contracts do you have your attorney draft up and do you need to put down earnest money? I know a purchase agreement is needed that secures me the right to purchase the property and reserves me the right to assign the contract but is that it? Does anyone recommend any real estate attorneys in NJ that have experience with wholesaling?
Thank you in advance!
Most Popular Reply
Hi. While I don't wholesale myself, there were a couple of recent discussion on it: https://www.biggerpockets.com/... and https://www.biggerpockets.com/...
Of course, you still need a purchase contract. Since I'm an agent, I would probably start from our sales template but strike out the restriction on assignments, of course. When we talk we can talk about attorneys. I hope this helps get you started.