Hi everyone, I’m actually a beginner with wholesaling so everybodies help would be appeciated. I stay in New Orleans, Louisiana and now in the process of finding a state approved contract to get started with my deals. I was told that I would need 2 contracts, an “Agreement for Purchase & Sale” contract(assignable) for the homeowner, plus an “Assignment of Purchase” contract for the investor. Is this true, or do I just need only one if its assignable??? And last of all, should I go to a Real Estate Attorneys office to get a state approved contract, or where else should I get one???
You might be better off joining your local Real Estate Investing club and trying to find a local mentor who can provide you with these documents. Contracts cannot be copyrighted so you might even be able to download the Purchase Agreement form from the state Real Estate Commission. Texas (TREC) has all their forms online for download but you then have to fill them in by hand. Licensed agents can get access to fillable forms or online forms to use.
The Assignment of Contract form can be found through a good Google search. I found one but can post links here so you should be able to find it online as well. The next step is in knowing exactly how to fill them out - that is where a mentor will help you greatly.
Did you find a contract that u can use. I need the same help…
I am also new to wholesaling. I am working on my first deal now, and contract negotiations have been a nightmare. I would find a good real estate attorney with reasonable rates to work with and hammer out a sales contract and assignment contract to fits your needs, and that is legal and enforceable in your state. I have been told it is a good idea to get every contract reviewed for each transaction.
I am a newbie here and enjoyed reading all your posts. I, too, want to get started in Wholesaling real estate and look forward to being an active participant on this forum. Again, thank you all for your posts. :biggrin
Welcome and we look forward to your involvement! :beer
I know it may be different depending on what state you’re in but I’m in Illinois and I just got the standard Purchase Agreement from my local realtor and added in my clauses. This is the easiest and most viable method of getting a wholesale contract.