Use Agreement to Purchase or not?

Bird Dogs, Wholesaling
1

Hey everybody.
I’m working on my wholesaling process and would like some opinions on if it’s terribly important to use the Agreement to Purchase or not.

Do I:

  1. Draw up the Agreement to Purchase with my offer on it and they sign it.

  2. Do due diligence along with inspection

  3. THEN give the seller a Purchase Contract showing the new offer (if a new offer is needed) and they sign it.

or

  1. Use the Purchase Contract instead of the Agreement to Purchase.

  2. Then do due diligence and inspect.

  3. Then if a new offer is needed give them a new Purchase Contract and they sign it.

I know there are some who like to inspect before making an offer but I’d like to mahe an offer quickly and keep momentum on the deal you know? Create a little excitement in the seller.

I will have an attorney look over the wording but for now, I’m trying to get my mind wrapped around all this.

Also, is there a particular purpose for the Agreement to Purchase like one that would make it a fatal error to delete it from the process? I cant think of any.

I’m thinking if I didn’t use the Agreement to Purchase it would be fine as long as my out clauses (subject to inspection and all that) are in the Agreement To Purchase.

Am I right?

I’m in Tennessee by the way.

Any help would be greatly appreciated. My brain is on information overload. :slight_smile: