Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: amesda on June 10, 2008, 05:20:53 pm

Title: Bill of Sale
Post by: amesda on June 10, 2008, 05:20:53 pm
When submitting an offer for a property, the seller was talking about doing a simple bill of sale rather than the actual contract. I wasn't familiar with that so I tried steering the conversation to what I wanted. I wanted to fill out the contract with contigencies so that I could get the property under contract. What is a bill of sale? Is it useful to wholesale deals?
Title: Re: Bill of Sale
Post by: NoLights-NoCameras on June 10, 2008, 08:28:41 pm
A bill of sale would not apply to the purchase of the property.  The seller may not understand it.  You are right in doing a purchase agreement with your contingencies.

The bill of sale would be used to transfer ownership of any personal property within the real property you're purchasing.

Typically everything that comes with the house is sold via the bill of sale for $1.00