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How To Wholesale
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Wholesaling Real Estate
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45 contributions to How To Wholesale
3d •
Proof of funds
Maybe I’m not at that part yet and it talks about it later but when a seller accepts the offer who or who sends proof of funds if obviously I don’t have the money?
0 likes • 2d
@Nicole De Shore examples of what?
0 likes • 23h
@Nicole De Shore
3d •
VERY IMPORTANT QUESTION
Hey guys I just had this question when I’m gonna be wholesaling how am I gonna pay the mortgage, loan or anything like that that has NOT been paid off can you guys please tell me and help me out down below in the comment
0 likes • 2d
If there is a mortgage on a deal you get under contract, the loan is paid off at closing out of the seller’s profit. So if they sold it to you for $150,000 and the mortgage owed is $100,000, that gets paid off and they walk away with $50,000 in their pocket.
0 likes • 2d
@Yousuf Jamal So if you’re profit was say $20,000, the title company will give you a check or wire you your $20,000 at closing.
2d •
The contract purchase and sale agreement
The contract that Max gives out, does anyone know has that been looked over by a lawyer?
1 like • 2d
No worries. You can always find contracts online or even have Chat GPT create one for you for free. It’s pretty good at contracts. As long as everything is clear in the contract, you don’t need to waste money to have a lawyer review it.
0 likes • 2d
@Jeff Griggs yep I know him. He’s a good one so his contracts are probably excellent.
3d •
Assignment agreement
Our assignment agreement supposed to disclose the assignment fee . I recently downloaded one that just says it’s a difference between the sales price and the purchase price will not have a place to disclose the assignment fee. OK with cash buyers?
0 likes • 2d
Better if you have a contract with ALL the numbers clearly disclosed in case there are any questions or issues. If yours doesn’t have it, trash it and get a contract that does, or have Chat GPT whip one up for you.
0 likes • 2d
Try this link for free contracts: https://www.realestateskills.com/blog/wholesale-real-estate-contract
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