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Updated almost 10 years ago on . Most recent reply

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Myron M.
  • Professional
  • Houston, TX
0
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2
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I need HELP! First deal locked up with a wholesaler

Myron M.
  • Professional
  • Houston, TX
Posted

I am new to real estate wholesaling and I have a property under contract with a wholesaler investor. I want to make sure I executed the proper contract to control the home. Normally it is a private seller to do a (TREC) or sales and purchase agreement to assign to my cash buyer. So me and the wholesaler did a sales and purchase agreement with what he wanted and original seller needed out the deal. So I have plans to assign the new agreement to a cash buyer. Is this correct? Also, do I take one sales and purchase agreement or 2 sales and purchase agreement to title company along with my assignment contract? Because the wholesaler already has agreement with the original seller. Does that means tripple close or a double close that the wholesaler will pay the seller from his proceeds? The original seller does have a balance on the home by the way. I appreciate any advice I can get to make sure I get my assignment fee.

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