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 4 years ago on . Most recent reply

User Stats

205
Posts
165
Votes
Jack Smith
  • Rental Property Investor
  • Massillon, OH
165
Votes |
205
Posts

Do any of your buyers insist on reviewing the purchase agreement?

Jack Smith
  • Rental Property Investor
  • Massillon, OH
Posted

To date I've bought a number of houses from wholesalers and, knock on wood, each time things have gone well.  However, I have a nagging concern over buying an assignment to a contract which I've not personally reviewed.  Feels like Let's Make a Deal and I'm buying Door #2 without knowing what's behind it?  

Do any of your buyers insist on reviewing the purchase agreement before signing the assignment?  

  • Jack Smith
  • Most Popular Reply

    User Stats

    428
    Posts
    349
    Votes
    Mike B.
    • Developer
    • Chicago, IL
    349
    Votes |
    428
    Posts
    Mike B.
    • Developer
    • Chicago, IL
    Replied

    I wholesale properties and have purchased from wholesalers as well. Not being able to review the contract you're being assigned is a definite deal breaker. God knows what's in that contract and as soon as you sign that assignment you're legally responsible for everything in it. The wholesaler can black out the purchase price if that's why he/she is being uncooperative. That part isn't or shouldn't be your concern, it's all of the other terms that you need to see for yourself.

    Loading replies...