Getting a Wholesale Contract in California

[Bryan Pham]

Hello BP,

Does anyone know how/where I could get a wholesale contract in California? I have 3 potential wholesale coming up but I am not sure where I could find a contract. 

[Bryan Zuetel]

On the current version of the CAR purchase agreement, you must be aware of the following paragraph:

"26. ASSIGNMENT: Buyer shall not assign all or any part of Buyer's interest in this Agreement without first having obtained the separate written consent of Seller to a specified assignee. Such consent shall not be unreasonably withheld. Any total or partial assignment shall not relieve Buyer of Buyer's obligations pursuant to this Agreement unless otherwise agreed in writing by Seller. (C.A.R. Form AOAA)."

The current version of the CAR purchase agreement requires Seller consent to an assignment.

Be aware that every California contract includes an implied covenant of good faith and fair dealing.  This can be interpreted as you having the good faith ability to purchase the property and close on the transaction.  If that's not the case, you really should speak with an attorney about your contracts and wholesaling.