Contract for Short Sale

[Louise Whidby]

Is there a specific contract to use for Short Sales between Wholesaler & Buyer?

[Wayne Brooks]

Louise, please read some of the threads on short sales. Purchase contracts on short sales are NOT assignable, as the Approval Letter, if issued, is specifically for the name on the original contract, and specifically prohibits assignment thereof, and you need POF or legitimate preapproval in the buyer's name, and any agent who is awake isn't going to let you tie the property up for 60-90 days if they suspect you can't/won't close.