Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
contracts on contracts on contracts; where do they come from?
Newbie question. On the podcast I hear the word contract used a lot, whether it's in reference to a wholesaler "putting a house under contract" or a flipper "honoring a contract with a general contractor." Where do the formats for these contracts come from? Is there a boiler plate setup for your state that you just reuse as needed or is it something you have to pay a lawyer to draw up each time? Or can you just write up an agreement on the back of a napkin and call it good (exaggeration, obviously)?