Are You Using These Contract Clauses When Wholesaling Real Estate?

http://www.privatemoneyblueprint.com

Wholesaling real estate is a great way to make quick cash.

In this video, I go over clauses that you should have in your contracts when wholesaling property.

Enjoy :-)

- Patrick

Category:

Howto & Style

Tags:

• wholesaling
• real
• estate
• contract
• clauses
• form
• wholesale
• investing
• investment
• software

[le2mana]

Thank you for u video

[PrivateMoneyLending]

@le2mana You're welcome :-)

[h2valex]

Is getting a property under contract "subject to finding a qualified buyer," or "with the right to post signs for sale, etc" getting too close to dealing real estate without a license? Since it seems all you are doing is bringing buyers and sellers together for a profit... In other words, acting as a realtor without being properly certified?

Has anyone ever given you trouble in this regard?

[PrivateMoneyLending]

@h2valex Good question... no, never had in trouble with this. You're just putting a contract on a property and assigning it to another person to purchase.

[UltimateBargains]

To avoid acting like a broker when finding a 3rd party buyer for the seller, you must provide some earnest money as full liquidated damages in the event that *you* fail to perform your duty as a buyer. If you substitute your duty to perform as a buyer with a duty to find a 3rd party buyer with no recourse to you in the event of failure, then you are acting as a broker. An alternative is a limited power of attorney and a personal services contract with the seller.

[UltimateBargains]

All contracts, except Personal Services contracts, are implicitly assignable unless the contract specifically states otherwise. Upon an assignment under the implicitly assignable nature, your liability is NOT released. You must explicitly state an assignment clause that provides for your full release of all liability upon assignment to a 3rd party.

[h2valex]

Good video