Updated about 7 years ago on . Most recent reply
Wholesale Contracts Help
Good Day Everyone!
I'm seeking information on wholesale contracts - getting the house under contract and assigning that contract to the end buyer. I met with an attorney to review the contracts I have (see attached) and though he didn't outright say they were bad, he didn't approve either.
The attorney advised that when I have identified a property to wholesale, I should go over the terms and conditions with the seller and buyer beforehand - keeping them separate to protect my own interest. After the terms and conditions of the purchase has been agreed upon, bring them to the attorney's office, where the attorney will write up the contract for a fee of $600.
I would appreciate if the following questions are answered:
1. Is this the best way to go about wholesaling?
2. Is $600 fair for having an attorney write up the wholesale contract?
(This fee is to be paid by either seller, buyer, or split between both)
3. Does anyone have contracts they would like to share?
Thank you for your time and knowledge.