Wholesale purchase agreement

[Brandon Stevenson]

I’m looking to wholesale a property but the purchase agreement sent by the seller has States this 

“LICENSURE: The Principle of the Buyer's entity does hold a real estate license.” Does this mean the property can’t be assigned? 

[Christopher Charles]

@Brandon Stevenson

This is how it usually goes down.

You find the seller, (They're motivated of course" and you get the property under contract (hopefully at a great price and rate) ( Typically distressed property ARV x .7 - Repairs - Fee= MOA ((Max Allowable Offer)) ) As soon as you get that seller signature bro. Take that contract ASAP to the Title company or if your a Closing Attorney type of guy then to them. Have them start running title. typically anywhere from 72-96 hours. (3-4 days). Immediately start marketing for your buyer. You want cash now? Demand a "nonrefundable" Earnest money deposit of at least a grand. Tha way even if your buyer backs out and wastes your time you get something out of it. If your double closing. Get your buyer to sign that second P&S agreement or if you're assigning it, have em sign that. Lastly...take that contract as well to the closing agent or attorney. Then pick up your check once titles clear. BOOM not all heroes wear capes.