My first potential wholesale deal!

My first potential wholesale deal!

Hello everyone,
I have a seller extremely motivated to sell. Now here is my problem, I don't know what forms to use because he is in Ny and I'm in Pa. Can anyone help me and guide me on which forms and what steps to take next?
Thanks
Brandon

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First Deal

Brandon,

You can get a real estate purchase contract online. You may be able to get one right of the State of NY web site. Just go there and do a search. You may just be able to search for it through Google. If you can't find a free one, there are a lot of web sites that will sell one at a very reasonable fee. If there is a listing realtor on the property, you could ask him/her to send you a blank contract.

Complete the contract and send it to the listing agent or if there is none, to the seller. Once they sign it and give you a copy with their signature, you now have something of value assuming that the agreed upon sales price is discounted to the ARV sufficiently.

You can then introduce one or more of your buyers to the property. When you quote a price to the buyer, remember to include your assignment fee. At this point you don't need to break down that price between what you are paying and your fee, if you buyer wants the property, you will have them sign an assignmetn of contract with you at which time the buyer will find out how much of the sales price is your fee and the sellers price.

You can find a copy of an assignment on this web page under Forms and Docs.

Good luck


I did as Brent suggested

and got a official state contract that the agents use (from agent) and got it as a blank for a house we want to put under contract. My partner filled it out and we will send it back to her with the offer.

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First Deal

Brandon,

Yo can try also some of the more larger Title companies that have web sites they would normally have big selection of documents you can use and download and fill in for your own use one that I use is "Judicial Title co."
or just google tiltle co in your own state to see who has a web site and look for forms. Hope this helps. Here is the link.

http://www.judicialtitle.com/


Brandon

Go get it!!! I hope you get this deal.

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Josh

"The best is yet to come."

"Never let someones opinion become your reality"