Contracts used in wholesaling

[Christian Chaffe]

Hi everyone,

I am just starting off my wholesale marketing campaign in Halifax, Nova Scotia and I just wondered what contracts will be needed?

I understand that I will need a right to purchase agreement with an 'assign to' disclosure so I'm able to 'sell' the contract to an cash investor. However, I met with a RE lawyer the other day and she suggested that I would need the contract mentioned above and then a separate contract for the final purchaser. I imagine she suggested this so the seller and buyer's 'numbers' don't come in contact and the seller doesn't see the margin I have built into the deal for my profit. Does this sound right?

She also suggested that I become and incorporated company instead of a partnership because of the potential liability if something was to go wrong. Is this something that you pros on BP would suggest to? From my reading, I was under the impression I would be able to effectively wholesale without this?

Many thanks in advance for the advice!

Christian