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Updated over 9 years ago on . Most recent reply

User Stats

44
Posts
3
Votes
Karl Smith
  • Wholesaler
  • Chicago, IL
3
Votes |
44
Posts

Which is better; an Option to Purchase or a Sales Agreement

Karl Smith
  • Wholesaler
  • Chicago, IL
Posted

Looking to wholesale 2 - 6 unit  properties ion the Chg area. The owner wants to sell them together. Both properties are C class, vacant and need full rehabs inside about $15-20k per door; kitchen, bath some wall replaced, replace some stolen copper pipes plumbing etc. We decided that we were not going to rehab these buildings but would like to wholesale them to an investor. I would like to know if I should use a  Option agreement or a Sales agreement to get control and then wholesale?


Thanks
Karl S.

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