Florida purchase contract

[Jeff Cutter]

Hello BP Community-

I'm a new user and future Real Estate Investor in Central FL. I was wondering if anyone from my area would be able to share a Wholesaling Contract template with me that includes a "walk away" clause and assignment paragraph. I want to make sure that if I am unable to assign the contract I am still able to walk away from the deal.

I'm working on creating an efficient and smooth system for all the potential offers I have on my plate at the moment and in the future and The Florida Realtors Residential Contract seems like overkill for the types of properties I'm making offers on. 

I'm looking for a legal and short version of The Florida Realtors Residential Contract in PDF form that I can fill in and email with my tablet while I'm in the field. 

Is this a pipe dream?

Thanks in advance for any advice or help.

Jeff

[Bill Gulley]

@Jeff Cutter Hi, welcome to BP!

Sounds like you have construction experience, but no real estate experience or understanding of rules, regulations or laws pertaining to real estate. 

There are 4 types of wholesalers. 1, the bunch that don't understand, 2. the bunch that do and don't care, 3. predatory dealers and 4. bulk buyers who attack a portfolio of properties and peel them off to single buyers. 

#1 are usually victims of bad advice, guru crap, they think they know, but don't have a clue. #2 & 3 are simply bad players in real estate, the low life types. #4 usually are dealing with sophisticated sellers, buying, say 20 homes at a time, they will line the transactions up and most likely have a real estate license. 

Go to my profile, click on my avatar/name, then go to my blogs, wholesaling, see Jane wholesale, be sure to read the comments. Pay attention to Zack's problems and tort laws.

We get comments like Dimitri's everyday, usually they are in the first group, lack business law and real estate law and bringing an attitude of dealing as you might in personal property to real estate with them, that means they don't understand real property concepts or the basics of real estate.   

As to your comments, you don't understand real estate basics, the why things are done the way they are.......or you may know and don't care to follow the rules of the game.

The example you gave with termites is horsefeathers, in no state is a buyer required to follow through with latent defects, unless the contract is cash and sold "as is". That's BS. 

John's comments got you dancing around the bush, ethical and knowledgeable operators or investors don't use or need weasel clauses. They also don't use tactics of deceiving a seller that gurus and most wholesalers (who lack knowledge) usually employ. 

Brian mentioned other approaches you can take, even with no money, to take title and avoid license requirements as well as tortuous conduct explained in my blogs. 

Read Tic, Tac, Toe about tenants in common, then think seller financing a fractional interest, taking control of a property under an agreement with the other owner, then selling as an owner. 

Gurus sell simple steps for simple dreams. Question is, do you want to be a dream chaser or a professional? Read, learn the basics, then do! :)