I’ve done a couple rehabs and now I’m looking to add some wholesaling in too. I found a triplex in my area that’s condemned, so I tracked down the owner, who lives in California (prop is in PA). She’s apparently been ripped off by a couple contractors, the sewer line needs to be repaired and she’s just tired of dealing with it all. She told me she wanted $99k just to get out from under it. Depending on how much the sewer costs, it only needs $15-20k to get in decent shape.
I was all ready to fax her an offer when she mentioned something about a realtor. There was no sign in the yard, so that’s why I had contacted her directly. Now usually I know it’s ideal to not use realtors for wholesaling, but she said she’d take $99k even though it’s listed at $119k.
Here’s the real meat of this post, though. I’ve developed a one-page purchase contract as Vena Jones-Cox suggests, but I’m wondering if that is OK to submit to a realtor. It doesn’t mention anything about agent fees and I cut out all the fluff that’s really just there for the realtors and has nothing for the buyers and sellers. I also have a more extensive 3-4 page contract. Should I use one of those two (if so, which one) or do I go fill one out with the listing agent?