Before offering a wholesale property for sale, make sure you contract the property first.
Get as distant of a closing date as you can while being able to close early if you like. I usually ask for 45-60 days.
You will need to put up an earnest money deposit to make the contract legal of course but this can be anywhere between $10- thousands. Do what you can to negotiate the least amount while giving you the most freedom for closing. If it is more than $100 I always require to have the deposit put in an attorney or title company escrow account.
My sellers tend to accept $1, or $10.
The next and most important thing is your inspection clause. This is what will give you the safety you are looking for. Ask for at least 15 business days which will give you 19 actual days, to do your inspections.
The main thing here is to give yourself enough time to get a contract with a buyer.
Here is a sample clause [check with your own state and attorney]
"In the event the property does not meet the buyers approval, all earnest money will be promptly returned to buyer and the contract will be voided."
Now you can legally go to your buyer and offer to sell them the contract on the property.
Don’t offer a property for sale that you don’t have a contract on. That can get you into legal hot water real fast.
I will sometime get a call from investors asking if they can promote their property on my list. I will not do that if they don’t have a contract on the property. Nor will I put it on my list unless I have an option or something on it.
I might call a few investor friends with a lead, but I will not advertise it or offer someone else’s contract for sale unless I get made party to it.
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