What Type Of Legal Documents Are Needed For Wholesaling?

I am new to REI, but after reading these articles and forums I am truly eager and inspired to become an REI. I have read 90% of all of the information posted on this website and feel confident enough to ****Must Reach Senior Investor status before posting URL's***he only thing I have not seen much of is what legal documents or paper work that is needed to initially start and close on wholesaling properties. I figure since and I am just starting out without any cash or good credit to back me that either wholesaling or I think subj to's would be my best bet. ......I would like to personally thank ALL the investors who post articles on this ****Must Reach Senior Investor status before posting URL's***he information you give is very appreciated and again I would like to thank those who took the time to help the beginners. God Bless You!

Comments(5)

  • DaveREI17th September, 2003

    Wholesaling

    all you do is get the property under contract and sell quickly to another investor for a easy couple grand.... usually by assigning the purchase contract....

    so a purchase contract and a assignment agreement
    a pen would help too.

  • pdcoles17th September, 2003

    thanks for the advice.....I didn't know it was that simple........already working on a purchase offer now........again thanks

  • GFous20th September, 2003

    I always put properties under contract as .....,trustee, and always make them assignable.

    You can actually use a standard board of realtors contract to sell you rrights in a contract.

    Also keep in mind that if you have an executed contract, you have an equitable title.
    [addsig]

  • pdcoles20th September, 2003

    thanks for the info.....it makes a lot of sense how it all works......again thanks

  • Julieann24th September, 2003

    I did my first wholesale deal. It was a double close and since I had my name on the title, I had the buyers sign all kinds of disclosures: mold waiver, lead paint waiver, seller disclosure, "as is" waiver...
    What the heck, I figure I am covered that way.

Add Comment

Login To Comment