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Updated about 6 years ago,
California Wholesaling Contract Disclosures and disclaimers
Hey guys,
I'm new to BP and I've been searching everywhere for some specific answers. If you guys could help me that would be extremely appreciated. I'm a Socal realtor and I am venturing into wholesaling. I am drafting up a contract, and i'm going to have it reviewed by an attorney but I was wondering if maybe someone already had one they would be willing to share.
Now I've seen many contracts which look very basic. My concern is that it doesn't cover enough. There seem to be no exit clause where if i weren't able to find a end buyer I wouldn't be liable for any damages etc. and so on.
I know in regular real estate transaction we include Transfer Disclosure Statements (TDS) and Natural Hazard Disclosures and Lead paint disclosures. Our purchase agreement is so many pages long whereas some of these contracts are barley a page. I want to be able to comfortable and confidently use these contracts without worrying about if something wasn't covered and if I could be held liable for this. Which disclosures are absolutely necessary to have in wholesaling, what can I not include.
Any help is appreciated.