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Wholesaling
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Updated over 3 years ago on . Most recent reply

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Aidan King
  • Rental Property Investor
  • Cincinnati, OH
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Wholesaling Contracts Pleaseee

Aidan King
  • Rental Property Investor
  • Cincinnati, OH
Posted

Does anyone have a wholesale contract with a subject to inspection clause that I can use to base mine off of?? Would appreciate so much!

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Will Barnard
  • Developer
  • Santa Clarita, CA
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

There is no such thing as a "wholesale contract". What you need is a purchase and sales agreement and I strongly suggest you use your states realtor approved contract which can be acquired from any real estate agent in your state. These contracts have inspection clauses, disclosures, and all the things you should need in a contract. The specific language you need to perform your wholesale transaction should be acquired by your attorney and you should consult said attorney on your state's laws regarding how to legally wholesale as many do it illegally - brokering without a license.

If you plan to have an assignment clause to assign the contract to another and market that property/contract to others for a fee, you are brokering. If you close on the transaction and then resell, you are fine. There are a number of other ways to do it legally as well assuming you do not hold a RE license.

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