Wholesaling

Bird Dogs, Wholesaling
1

Hey all,

I just want to get something clear if anybody could help please!

  1. Find Motivated Sellers
  2. Have a buyer list
  3. Once I find a motivated seller, I have them sign the Purchase Agreement that has add clauses
  4. Negociate Deal with Buyer, once deal is set, have buyer sign the Purchase Agreenment that Seller filled out.
    5)Send Agreement to an Escrow office
  5. When deal is closed, I receive a check

Are these the basic steps. do I only need 1 form to make this transaction happen or do i need a separate form(Sales agreement) that the buyer needs to sign. Or does 2 agreement forms only partain to double closing.

2

Howdy TheWholesaler:

One contract with a separate agreement with the buyer about your fee may work. The preferred method is for you to put your name as the buyer and sign and then assign the contract to your buyer. The first method could be considered collecting a commission and is against the law.

You also have the option of two contracts and a double closing if you do not want the parties to know how much you are earning as an assignment fee.