Selling my interest/rights in llc when wholesaling REO's

[Paul Shinn]

A question – We are looking at wholesaling REO's. We intend purchasing a REO's in a llc and then selling our rights/interest in the llc and collecting our fee.

What we need to know are the steps involved in doing this correctly.
For example:
Step 1: A signed sales and purchase agreement on the property
Step 2: Find buyer
Step3:
Step 4: and so on
• Non refundable earnest money - where do we deposit this?
• Which parts are done in escrow?
• What forms do we need to make this legal?
• Do we need our lawyer’s involvement?
• When do we get paid?
• Who needs to show up for closing?
• What are the potential lawsuits and what do we do to prevent this from happening if something goes wrong in the future with the property?
• What disclaimers if any do we need to get signed?

all help would be much appreciated

thanks Paul