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Updated over 6 years ago,

User Stats

129
Posts
50
Votes
Jim Hiler
Pro Member
  • Rental Property Investor
  • Delray Beach, FL
50
Votes |
129
Posts

Contract from a wholesaler

Jim Hiler
Pro Member
  • Rental Property Investor
  • Delray Beach, FL
Posted

Dear BP,  

I am trying to buy a property from a wholesaler. He/she sent me a standard Florida FABAR contract which is between the seller and the wholesaler and then an assignment contract which then assigns the  contract over to me. On the assignment contract it states what the purchase price will be and the deposit.

My question is that the original contract between the seller and wholesaler has no purchase price, it only shows the requested deposit amount. Doesn't that make it an illegitimate contract? Is this standard? Should I be concerned with this? 

Wholesalers how do you normally assign your deals?

Any input is appreciated.

  • Jim Hiler
  • Loading replies...