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Updated about 10 years ago on . Most recent reply
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Contract examples for wholesaling
Good evening everyone. I'm looking for a contract example for wholesaling that could be used in Louisiana. If anyone has something that I could review as well as an assignment contract, I would greatly appreciate it.
Have a great night,
Lee
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- Investor, Entrepreneur, Educator
- Springfield, MO
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Try using the standard contract used in your area and assign it! Using BS contracts is not the way to go. This place is full of mentors, coaches, guru and wannabe gurus giving away and packaging contracts, most are pure trash I'm sure as I know the level of understandings of many of them.
Any contract can be assigned so long as not prohibited by law or which does not specify in the contract that it can not be assigned, you usually don't have those issues with a standard RE sale contract.
Contracts used in your area have survived the test of time by fire in your area. A contract that contradicts usual and customary practice and that is loaded with BS exits or terms that can be found invalid can invalidate your entire contract.
Same thing with BS disclosures drafted by investor types trying to avoid liability, which only points out your attempt to avoid liability which shows that you are aware of the liability and matter and that you are attempting to evade responsibility in a certain area. Some areas you can not avoid with a valid contract in small RE transactions, it simply points out that you're skewing the contract to be too much in your favor and that can lead to more trouble than what you were trying to evade.
You do not need a silly security blanket, what newbies need to do is to get away from the guru stuff and learn basic contract law and basic RE.
I understand that newbies don't have my experience in drafting a contract, but I've been at it for decades, not weeks, so spend a 3 weeks of your business life and learn these basics and then you will understand how to use a standard contract in any strategy needing a sales contract. And, if you don't learn, you have no clue what someone hands you saying whatever they say who has no interest or liability in your use of that document.
My ranting is not targeted at the OP, it's to all newbies, further, to anyone using internet contracts provided by others mentioned above. :)