In addition, they talk about writing in a provision which gives possible future owners the responsibility of paying for repairs below $500 while they are renting and considering exercising the option.

or can't be found at exercise time?

Banks very rarely exercise a due on sale clause if the payments are current.

Ok... so if you get the option fee, is it not applied to the down payment when the t/b exercises their option?

Its a good exercise for you to exercise yourself by creating these 2 docs.

In the event that the BUYER exercises this Option, the Option Deposit shall not be applied towards the purchase price of the Property.

Robert makes some good points aboveI will also add:Wholesaling is basically finding a deal, putting the deal under contract to purchase and then exercising your contract rights to assign the deal (sales contract) to another entity (buyer).

I had a couple of friends who were in business look it over for feedback and I learned SO MUCH doing this exercise.

Once you correct the defect you can take your own lead dust test samples (assuming you have become certified).

or do they agree to purchase it at the value it is at once their option is exercised??