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!
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.
thanks for the advice.....I didn't know it was that simple........already working on a purchase offer now........again thanks
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]
thanks for the info.....it makes a lot of sense how it all works......again thanks
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.