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Updated over 14 years ago,

User Stats

61
Posts
1
Votes
JD Hawkins
  • Rental Property Investor
  • Sebring Florida
1
Votes |
61
Posts

Addendum's needed to do REO and Short Sales.

JD Hawkins
  • Rental Property Investor
  • Sebring Florida
Posted

Long time RE investor but new at wholesaling. I am ready to start making offers on REO as well as Short Sales I will be using Double closings where I will do First the A-B closing with Transactional funds and will take the property in an LLC. I will them turn around and close with B-C by using my pre arranged Cash end buyer.
My question is how much disclosure should I add (explaining the double closings ETC) as addendum's in my Original Contract offer. At this point the only Contingency I have is "The deposit shall be the sole remedy in the event of buyer default" . The state of Alabama already has the 10 Business day inspection so I don't need to add it.
Would like to know what others are using as addendum's in both REO and Short Sales?

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