Wholesale Real Estate Contracts
The Contracts and Forms You Need For Wholesaling Houses
Having a good Wholesale Real Estate Contract with you at all times is just as important as finding a that motivated seller or having a good buyer lined up. Once you're comfortable with your market and know how much you should be paying for houses without doing comps you'll often write up a contract when you go to look at the property the first time. Strike while the iron is hot as they say!
If you leave without getting your wholesale purchase agreement signed you run the risk of them changing their mind on price, selling the property to someone else or having a friend or relative talk them out of the deal. Once a seller signs the wholesale real estate contract they have mentally committed to deal and you run a much lower risk of them backing out.
Below are links to the simple Wholesale Real Estate Contracts: Purchase Agreements, Assignment Contracts and Option to Purchase contracts we've personally used to buy wholesale real estate. We hope they bring you as much success as the have us.
If you leave without getting your wholesale purchase agreement signed you run the risk of them changing their mind on price, selling the property to someone else or having a friend or relative talk them out of the deal. Once a seller signs the wholesale real estate contract they have mentally committed to deal and you run a much lower risk of them backing out.
Below are links to the simple Wholesale Real Estate Contracts: Purchase Agreements, Assignment Contracts and Option to Purchase contracts we've personally used to buy wholesale real estate. We hope they bring you as much success as the have us.
Wholesale Real Estate Purchase Agreements
| wholesale_real_estate_purchase_agreement_1_.doc |
| wholesale_real_estate_purchase_agreement_2.pdf |
| wholesale_real_estate_purchase_agreement_3.docx |
Wholesale Real Estate Assignment Contracts
| wholesale_real_estate_assignment_contract_1.pdf |
| wholesale_real_estate_assignment_contract_2.doc |
| wholesale_real_estate_assignment_contract_3.pdf |
Wholesale Real Estate Option to Purchase
| wholesale_real_estate_option_to_purchase_1.doc |
Wholesale Real Estate JV Agreement
| wholesale_jv_agreement_1.docx |
Memorandum of Contract
| memorandum_of_contract.pdf |
Vacant Property Blueprint
| vacant_house_blueprint_-_the_wholesalers_toolbox_2017.pdf |
Wholesale Real Estate Marketing Letters
| driving_for_dollars_letter.docx |
The Wholesaling Spreadsheet Download
The Wholesaling Spreadsheet Will Help you: Estimate rehab costs, Determine the maximum allowable offer you should submit(MAO), Analyze rental returns on an investment property, Create wholesale property marketing packages for you potential buyers and much more! Also included is a property inspection checklist, property repair estimate report & homeowner offer report... Download the free demo just click here
Important Notice: Please verify with your state and title company that any real estate contracts meets your states requirements and are legally binding before you use them in any real estate transaction.
How To Use The Wholesale Real Estate Forms...
The Wholesale Purchase Agreements are used to put a property under contract with the seller. Typically a wholesaler will assign the contract using one of the Wholesale Assignment Contracts for a specified assignment fee. Most investors are very aware that wholesalers make money assigning these real estate contracts and don't have a problem paying the assignment fee as long as they're buying at a price that they like.
If you feel your investor or buyer will take issue with the assignment fee amount you'll want to arrange a double closing with your title company. Make sure you're using a "wholesaler friendly" title company that is familiar with double closings.
If you're unsure if you'll be able to successfully sell a property because of price, condition, location or any other reason we suggest you use the Wholesale Real Estate Option to Purchase Contract. We use this agreement often and very successfully when we have doubts about a property. After we have viewed the property and we want to use the option agreement we'll usually say "The property doesn't meet our buying criteria but we often sell properties to other investors that purchase properties just like yours. If you like I can send the pictures and property information to them" (They have always said yes) "Great, tell me what's the lowest you'll take for the property as it sits if you can close within a couple weeks and the investor pays all your closing costs" Just fill out the option to purchase, have them sign it and start marketing the property to your buyers list!
Finally, sometimes you might have a property in an area you don't have buyers, or buyers looking in an area you don't have any properties and you'll want to team up with another wholesaler, for that reason we've also provided a Wholesale JV Agreement above. Once you agree on the assignment split with the other wholesaler fill out the agreement, both of you sign it and personally send it to the title company handling the closing so there is no confusion and everyone gets paid!
We hope these forms help you and bring you much wholesaling success!
If you feel your investor or buyer will take issue with the assignment fee amount you'll want to arrange a double closing with your title company. Make sure you're using a "wholesaler friendly" title company that is familiar with double closings.
If you're unsure if you'll be able to successfully sell a property because of price, condition, location or any other reason we suggest you use the Wholesale Real Estate Option to Purchase Contract. We use this agreement often and very successfully when we have doubts about a property. After we have viewed the property and we want to use the option agreement we'll usually say "The property doesn't meet our buying criteria but we often sell properties to other investors that purchase properties just like yours. If you like I can send the pictures and property information to them" (They have always said yes) "Great, tell me what's the lowest you'll take for the property as it sits if you can close within a couple weeks and the investor pays all your closing costs" Just fill out the option to purchase, have them sign it and start marketing the property to your buyers list!
Finally, sometimes you might have a property in an area you don't have buyers, or buyers looking in an area you don't have any properties and you'll want to team up with another wholesaler, for that reason we've also provided a Wholesale JV Agreement above. Once you agree on the assignment split with the other wholesaler fill out the agreement, both of you sign it and personally send it to the title company handling the closing so there is no confusion and everyone gets paid!
We hope these forms help you and bring you much wholesaling success!
Wholesale Real Estate Contract Video Training
If you're new to wholesaling real estate and want in depth training on what contracts to use and when to use them watch the video below.
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