Would love to get a wholesale template that has been used in MD

[Jennifer King]

Hi wholesalers - I would love to get a template that you have successfully (and of course legally) used to close wholesale deals in MD.

I have a template with assignment clause that I downloaded from real estate skills.com which seems like a great website but I'd love to see one that has been used in practice and has clear clauses about 1)EMD and clear backout periods for seller, wholesaler and buyer that minimizes risk for each while still being a 'defacto' contract 2)assignment clauses. Not that the intent is back out, but one thing I'm trying to do is gaining a solid understanding of no-risk EMD (as long as deal is closed within a certain timeframe), - how to explain the risk reversal to the seller - and also the buyer.

I would be most thankful for the help and if you wanna join my network of MD/DC/VA based REI let me know.

[Russell Brazil]

Quote from @Chris Seveney:

@Jennifer King

For some reason I thought wholesaling was illegal in MD

@Russell Brazil can answer that one

 Not yet. But very likely will be on Oct 1 2024. 

They couldn't work out all the kinks in the wholesaling bill during the 2023 session. Maryland only has a part time legislature. So the wholesaling bill will be worked on during the off session season, reintroduced in January with a fully worked out bill, that will likely pass then take effect the following October.

A DC bill is being worked on currently and could be in place by the end of this year possibly.