Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

User Stats

120
Posts
18
Votes
Dave S.
  • Investor / Wholesaler
  • Erie, PA
18
Votes |
120
Posts

Wholesale of property - What to put on the Contract

Dave S.
  • Investor / Wholesaler
  • Erie, PA
Posted

Ok, long story short, I put a property under contract with the intention to wholesale it. The property owner has agreed to the contract but now has a lawyer reviewing it (believe its a state requirement - for their home state and not where the property resides), so they are used to this process and is thinking it will make the transaction easier. As a result we agreed to purchase the house AS-IS but we wanted an "out" just in case I couldnt find anyone (for whatever reason) and we put down a mortgage contingency but didnt fill out any of the specifics. It hasnt happened yet but we believe the lawyer is going to flag this. Im wondering what we can put down (mortgage contingency or not), that will give us the out if needed. Thoughts? Recommendations?