Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

3
Posts
0
Votes
Myron M.
  • Professional
  • Houston, TX
0
Votes |
3
Posts

I need HELP! First deal locked up with a wholesaler

Myron M.
  • Professional
  • Houston, TX
Posted

I am new to real estate wholesaling and I have a property under contract with a wholesaler investor. I want to make sure I executed the proper contract to control the home. Normally it is a private seller to do a (TREC) or sales and purchase agreement to assign to my cash buyer. So me and the wholesaler did a sales and purchase agreement with what he wanted and original seller needed out the deal. So I have plans to assign the new agreement to a cash buyer. Is this correct? Also, do I take one sales and purchase agreement or 2 sales and purchase agreement to title company along with my assignment contract? Because the wholesaler already has agreement with the original seller. Does that means tripple close or a double close that the wholesaler will pay the seller from his proceeds? The original seller does have a balance on the home by the way. I appreciate any advice I can get to make sure I get my assignment fee.

Loading replies...