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Updated over 16 years ago,
New wholesale scenario for me....
I have wholesaled over 25 properties in the past year and they were all through the MLS and through my Realtor. I have always got a property under contract and just assigned it to my buyer and got paid before closing. I have now started working with other area wholesalers that use the bandit signs to get their deals usually FSBO. My question is : What is the best way to do paperwork to ensure I get paid and make it easiest for my buyer ?
Ex: They have a property under contract for $20k, the numbers still work if I sell it to one of my buyers for $25k. The wholesalers said that I would have to wait until close, which is fine, and write in an addendum on the contract for the title company to write me a check for $5k. Does that sound like the best way to do this ? I want to make this as smooth as possible for my buyer, any ideas ? ........
Thank you......Jon