Putting a property under contract

Hey Stephanie,
in order to market a property that you don't have control over (have it under contract) you need a license. Besides if you don't have it under contract it is too easy for your buyer to go around you. Make sure you negotiate a price that leaves room for your buyer's profit.
Have at it.
Thomas

You must have it under contract and therefore have an interest in the property in order to market it to your buyers, etc. Make sure you put it under contract, the amount can be changed, or negotiated due to factors later. As carol says the offer amount can also be different than the contract price, and the contract or amount can be amended due to repairs, liens, and the like.

Thank you for your response, it is a big help to me

OK, so let's say another wholesaler has the property under contract. Then, what contract do I need to sign with the other wholesaler before marketing it to my buyer? And should I have the other wholesaler pay the marketing fee that I agree with the buyer? Or should I have the buyer send the buyers fee directly to me? If so, what contract would I sign with the buyer to pay me? If a wholesaler already has a Purchase & Sale Agreement with the actual buyer, then what contract is supposed to be signed between wholesalers? The Assignment Contract would need to be signed between the buyer and myself because another wholesaler has the property under contract? So, what would I have the buyer and I sign between us? This is where I am confused.

You put a property under contract to keep others from snatching the deal. You then use the time to find a buyer that will pay MORE than your contract. If you get it under contract for $60k then you need to get a buyer that will pay at least $61k. The difference is your profit or pay for wholesaling the deal.

Hi Stephanie we care about you, that being said your taking action, thats more than half the battle a ready won and be thank full that that buyer was concerned as well, the angles are watching over you.Lets keep it moving and never ever look back, much success, thanks, Jim

I get my other wholesaler to sign one of these agreements it's a simple one paragragh that we are going to split the profits 50/50 since I am providing the buyer. Also on the assignment contract I list myself as one of persons getting paid at closing, and the other wholesaler too is listed, then all sign it & boom you are covered.

And yes you wouldn't put something under contract unless & until you have enough buyers(about 10)who want the same thing in the same area so you have a good amount of buyers to send the same types of deals they all want, so one of them should get your deal & you dont spin your weels. But yes you must control the prop to be able to do that or co wholesale it, or actually bird dog it too to your buyers, just get them to sign a bird dog agreement which is on here I think, if not I can send one to you.