What Is Wholesale Contract?
Also known as: Purchase Agreement
A wholesale contract is the purchase agreement between the seller and wholesaler that gives the wholesaler control of the deal before assignment or resale.
A wholesale contract is the purchase agreement between the seller and wholesaler that gives the wholesaler control of the deal before assignment or resale.
Wholesale Contract explained
The contract is what turns a seller conversation into a controllable opportunity. It should clearly state the parties, property, price, closing date, earnest money, contingencies, and whether assignment is allowed. Wholesalers should use attorney-reviewed paperwork in their market because contract requirements and disclosure rules vary. A weak or unclear contract can make the deal hard to assign and harder to close.
Example
A seller signs a purchase agreement with an assignability clause and inspection period. The wholesaler can now market the contract to buyers.
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