All Forum Posts by: Brandon Paisley

So heres the million dollar question that just keeps coming up
Which Assignment contract do you use?
Im looking for examples of assignment contracts that real people use on a daily basis. I have a contract being written up by a Real Estate attorney but its 10 pages long and I'm not sure this guy understand wholesaling.
I also have a 2 page contract supplied by Freedomsoft, obviously its generic but it is 50 state legal supposedly.
Everyone that wholesales says to use a 2-3 page contract and thats it... Well clearly an attorney is going to put every clause, rule and regulation as possible in a contract to protect his client. I just can't get over the fact that everywhere I look they say to use a 2 page assignment contract. Now I already know that I need to add out clauses but can I really use a 2-3 page contract safely and is this the way it is supposed to be done. Can someone help me out here, I need some real answers please?!

So heres the million dollar question that just keeps coming up
Which Assignment contract do you use?
Im looking for examples of assignment contracts that real people use on a daily basis. I have a contract being written up by a Real Estate attorney but its 10 pages long and I'm not sure this guy understand wholesaling.
I also have a 2 page contract supplied by Freedomsoft, obviously its generic but it is 50 state legal supposedly.
Everyone that wholesales says to use a 2-3 page contract and thats it... Well clearly an attorney is going to put every clause, rule and regulation as possible in a contract to protect his client. I just can't get over the fact that everywhere I look they say to use a 2 page assignment contract. Now I already know that I need to add out clauses but can I really use a 2-3 page contract safely and is this the way it is supposed to be done. Can someone help me out here, I need some real answers please?!

Thanks for commenting Cheng. Thats some very interesting information and I'm glad you shared it. Im also curious to see how other wholesalers navigate around CO's in NJ.

So Im trying to figure out if I need a CO when wholesaling in New Jersey. I spoke to an attorney today about writing up an assignment contract and he stated that we will need a Certificate of Occupancy for the title company to close. Is this just an attorney thinking like a real estate agent, and not understanding how wholesalers work or do I really need a CO to close in New Jersey?

If I do need them can I push it on to the buyers side contract?

In all my research this is the first time I've heard of a CO being a requirement. Any info would be much appreciated. Thanks

Yeah those are my concerns as well but I'm looking for anyone who has specifically used the contracts from Freedomsoft. Otherwise I guess I'm going to have to shell out some change and get this one reviewed by an attorney.

Thanks for the quick reply Will. Freedomsoft states that its 50 state legal but you never know. Thanks again

1.Has anyone used the contracts provided by freedomsoft in NJ and verified if they are 100% legal?
2. Can anyone point me in the right direction to getting it verified?
3. Does this cost money to have verified?

Ann Thanks for clearing that up.
Rob Thank you very much I love your last sentence "Under promise and over deliver". Yesterday I made a great contact with an investor who was so excited to meet my brother and I because were exactly what he's been looking for. He has 30 hard money lenders he uses to buy property and flip homes he's been doing it for years but needed someone to find the deal. Best part is that he's a long time friend of my cousin. So I'm pretty excited to work with him! I will consider all your advice and I really appreciate everything you guys have suggested. Also Ive been doing construction & flooring for years plus I can do plumbing electrical and I'm a fairly good mechanic. so I have a good grasp on how much it cost to make repairs. Either way I think giving the buyer a professional estimate is a good idea so Thanks!

Nine months ago the landlord put $6000 into updating since the previous tenant trashed the place. So its in pretty descent shape. Its ready to rent. I have estimated the repair cost around $6000-10,000 for updating the kitchen and resurfacing the hardwood floors.

Curt
Thanks for the help. I will consider taking the deal to other wholesalers.
I have been opened and honest with the seller from the beginning but she uses the income from renting out her property to pay her primary home 100 miles away, she's tired of 200 mile round trips. So she is worried it won't sell and she won't be able to find another renter in time. Its expected and being 86 yrs old doesn't help, She just wants out. I calmed her down ofter speaking to her for the last two days.