Wholesaling: Protecting my Deal!

[Taylor Dove]

Hey there BP! 

I have a seller in north Florida who’s family member passed away about 5hrs away in South Florida. He doesn’t want to deal with going down, fixing it up and listing it. 

The property is vacant, paid off, lake front, and over 1000 of Living sq ft.

My question is, for me to send the address to investors in that area.. Would I need to have the contract already signed, with the seller, to protect myself from that investor going behind my back and making the deal with the seller? 

I’m trying to figure out a way to get an understanding of how much work the property needs, I’m just not sure the best route. 

Should I order an inspection of the property before I make an offer? 

Looking for a bit of guidance! 

Thanks! 

[Account Closed]

If you don't have a contract it is up for grabs and who comes to the owner with cash and a contract, first.

Write a Offer To Purchase, get it signed, try to put a small down payment as low as a few hundred dollars, bring the Purchase Contract to an escrow company and get the property tied up legally. Put in the contract you have 3 or 5 days to get an inspection with the right to cancel the contract.

You can pick up Offer To Purchase contracts at Office Depot or contact me and I will give you one.