I am considering, as a new investor,
wholesaling reo properties.
Can anyone who have been doing this find of investing couch me on
what forms to use and could I have a copy of each of the ones you use?
Thank you very much.
You will have to make the offers on the standard realtor contract for your state. Then the banks will have their own addendum that they will want you to sign once the offer is accepted. If you try and use your own contract on an REO, your offer will most likely end up in the garbage.
Find a realtor who is willing to submit offers for you, and they will be able to supply you with the correct contract.
Good luck,
Steph :cool
Keep in mind that you can’t assign REO’s as banks will not allow it you either have to do a double close or use an LLC and sell that LLC to your end buyer for the same amount as you would assigning the deal.
Please give me a sinerio.