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Updated over 12 years ago on . Most recent reply
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Specific addendums to wholesale contract
Hello all,
I apologize for starting yet another thread looking for a wholesale contract, but I have a few questions that I felt warranted a new thread.
I am looking for a wholesale contract that I will use to 'simultaneous close' my deals. I do not wish to assign for a few personal reasons. Now I will fully disclose my intentions to the original seller and need to make sure I have correct wording for this. Also I would like to use the end buyer's money to finance the original deal. Third I would like a 48 hour first rights clause to match any offers, to show the seller I am bringing value to his property by marketing to my buyer list while not 100% tying it up. And finally I need a basic escape clause if my buyer falls through.
Though I am not sure if anyone has this 'ideal' contract I was hoping I might be able to piece it together.
I was hoping I could use the following in the contract with original seller:
"Seller is aware buyer may sell this property prior to the close of escrow for a profit."
And this for my contract with the end buyer:
"Buyer is aware that seller is selling this property for a profit and may use the buyers money to fund this transaction."
Thanks in advance for the help!