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What is Real Estate Wholesale Contract?
The wholesale real estate contract is not the usual document any real estate owner works with. Instead, it is usually considered an alternative for the sellers to look for buyers and receive benefits from the procedure. Usually, it involves wholesaling property that offers quick profit, so as a seller, you can even use the method of direct marketing to attract the buyer.
Moreover, this form can also be used by investors who want to receive profit from the deals. It is just a part of the traditional purchase of real estate that can be used in specific conditions by people who want to prove their marketing skills. The wholesaler and property owner sign the contract once they complete it. It provides the right for the property owner to sell the house to the wholesaler. After that, the wholesaler turns into the selling party itself and looks for the buyer of the house.
Once the buyer is found, the wholesaler creates a new contract and agrees upon the details of the purchase. The original seller is not involved in the process, so the wholesaler receives the difference in the price. The buyer pays an increased sum of money compared to the original one.
What I need the Real Estate Wholesale Contract for?
- As a seller, you need to sign a wholesale real estate contract PDF with the wholesaler to receive the benefits of selling the real estate property. You have to understand that the contract will include the direct amount of money you will get paid and the security measures. You can’t later ask for more money from the next deal of the wholesaler and new buyer;
- As a wholesaler, you need a wholesale real estate contract template to make sure that your interests are secured. You can’t sell the house to your client before you sign the deal with the original seller. Moreover, you will not receive a profit if the price is the same. The assignment fee must be calculated in advance.
How to Fill Out a Real Estate Wholesale Contract?
The wholesale real estate assignment contract template is not complicated at all. However, you have to make sure that the document matches your original demands from it. The more information it provides, the better your position. Find out whether there are legal bindings for both parties and whether you have safety protection there.
Check out the deadlines. They must be previously agreed with the other party. The document can be opened on PDFLiner. Click on the image of the document, read the description, and fill in the empty sections with the tools you see in front of you. Once you fill it, save the document and send the copy to the other party. You can print it and hand it manually if you want. Here is what must be in the document:
- Provide information about the amount of money that must be paid and the assignment fee;
- Provide information on the assignor and assignee, including the names only;
- Name the date of the contract;
- Write down the address of the property;
- Provide the deadline, amount of money, and security deposit if there is any;
- Sign the document and let the other party sign it.
Organizations that work with Real Estate Wholesale Contract
- Real estate agent, broker, wholesaler, and seller.
How to make a wholesale real estate contract?
It is better not to create the wholesale contract yourself. If you don’t know how to do this, use the help of a specialist. Consult with your attorney. You may use the help of the real estate agency if you want. However, if you feel that you know how to do it, you may use the template on the PDFLiner as an example and create the document from the very beginning. Fill the empty page with the sections you need. The benefit of this option is that you can include the information you need, including extra conditions. However, they have to match the local laws, and the other party has to agree to these conditions. Without the second signature on the template, it will be invalid.
Fillable online Real Estate Wholesale Contract