Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 12 years ago on . Most recent reply

User Stats

90
Posts
26
Votes
Jesse Andrews
  • Investor and Licensed Agent
  • Glocester, RI
26
Votes |
90
Posts

Contracts needed in Wholesaling... HELP!

Jesse Andrews
  • Investor and Licensed Agent
  • Glocester, RI
Posted

Hey Everybody-

Maybe this a dumb question, but I cannot find an answer, and hopefully you can help me out.

I live in Rhode Island, and am determined to get into the industry of REI. So far, I plan that I will Wholesale until I have built up enough capital to buy my 2nd milti, and then repeat and repeat, and repeat.

My question lies in the contracts required. After I determine this is a GREAT deal......

1. What is everybody using for the P&S agreements? My RE lawyer/Title co offers P&S creation, but I cannot seem to find a blank P&S. Is it standard practice to negotiate a price in person, then have a P&S drafted, or do I get the signature IN PERSON and get the place under contract? (I'm under the impression that I do not want to "snooze" and get the property under contract IF it is a good deal.)

2. Same question for the Assignment of contract form. I assume that this is easier and less complicated.

I have waged a full out war with marketing distressed properties, and leads are coming in. I cannot be unprepared when a great deal does materialize though......

PLEASE HELP!

thanks!!!

Loading replies...