What exactly should be in a p/s contract to make it legally binding and risk free. I am looking for the right contingencies and legal wording. The best for me as a wholesaler.
Read your state’s real estate contract used by realtors.
What you will find many times is that you don’t have to put a lot of: contingent on the Steeler’s winning the superbowl’ type of mumbo jumbo in the contract to allow you to back out legally.
You’ll find that there are many ‘outs’ already built into it. One of the main ways is using the inspection period. YOu can make it contingent on your approval of the inspection. That makes it completely subjected to your approval of how the numbers turn out.
Just don’t leave a seller hanging too long. do your due diligence asap and make a decision either way. If you can’t work the deal, there maybe someone who can. wholesale it to them.
Dennis