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Updated about 6 years ago,
Are Option Contracts legal
Hi! Newbie here. I’m just starting to get into Investing and would like to start off small to build some capital doing Wholesaling (or Reverse Wholesaling as some call it). I just want to see if anyone has ever run into any issues legally with having a seller sign these, along with the Wholesaler, and then flipping that option contract to an investor? I have seen a lot of debate on here. The only thing I can see as being ‘gray’ is that I, as the Wholesaler, would be signing the contract as the buyer however it wouldn’t be purchased by me. How do you legally flip that contract over to the investor? Does the seller need to be present for it?
Also, can you create your own Option contract or does it technically have to be prepared by a lawyer etc? Thanks for any information your able to provide!!