First Off Market Deal - Is a Purchase and Sales agreement needed

[Aaron Wolman]

Do I need a purchase and sales agreement if I have an off market deal that the person wants to hold off selling till February? Neither of us are real estate agents.  Is there something in this I should include especially with the delayed purchase? and are there any good online templates I can use for PA and what's the best free way to do eSignatures? TYIA

[Jonathan Greene]

If you want the deal to be "held" until February, yes. You want to get a countersigned contract now with a closing date in February to lock it up. You should NEVER use an online template as most of those are easy to trample if need be. If you know local wholesalers or off-market specialists, their contracts have usually been vetted by an attorney. If it's a great deal, I would get in touch with an attorney now and have them assist so you lock it up correctly.

Why don't they want to sell until Feb? A strategy we use is to offer to buy and close now and lease it back to them for free.