Here's EXACTLY how to use and fill out Wholesale Real Estate Contracts! Land your first deal using our proven contracts we've perfected over 12+ years of wholesaling real estate.
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Ryan Zomorodi, Co-Founder of RealEstateSkills.com walks through everything you need to know about wholesale contracts, including how to use the Purchase & Sale Agreement and Assignment Contract.
Be sure to download our FREE wholesale real estate contracts (used by our experts) so you can start investing with confidence, today!
In this video, you'll discover:
🏠 How Wholesale Real Estate Contracts Work: Understand the basics of wholesale contracts and their role in real estate transactions.
🗒️ What Contracts You Need To Wholesale Real Estate: Ryan explains the essential contracts needed in every wholesale deal and how to use them!
✔ Walkthrough of the Purchase & Sale Agreement: Ryan explains each how to fill this contract out correctly when wholesaling real estate.
🤝 Breakdown of the Assignment of Contract: Learn how to complete an assignment contract to transfer your rights to another buyer or investor.
TIMESTAMPS
0:00 - Introduction
0:38 - What are Wholesale Real Estate Contracts?
1:35 - How to fill out a Purchase & Sale Agreement for Wholesaling
12:13 - Where to get Wholesale Real Estate Contracts
12:31 - How to use an Assignment Contract for Wholesaling Real Estate
What Is a Wholesale Real Estate Contract?
A wholesale real estate contract is a legal agreement between a property seller and a wholesaler. As the wholesaler, your job is to secure rights to buy the property—then assign those rights to an investor. You don't buy the property yourself. You're just flipping the contract.
Here's how it works:
1. You find a motivated seller and put their property under contract.
2. You assign that contract to a buyer (usually another investor).
3. You profit from the difference between your contracted price and the buyer's purchase price.
You never take ownership of the property. The seller keeps the title until the end buyer closes. Your role is to transfer contract rights, not the actual property. You can also reverse the process—find a buyer first, then lock in a deal to match.
If it's your first time dealing with wholesaling, don't worry! We have free wholesaling contracts to get you started off on the right foot! ➡️https://www.realestateskills.com/contracts-yto?el=pod
Wholesale Real Estate Contract Requirements
Every wholesale real estate contract needs to follow a standard format. You can find templates online or draft your own, but it must include the key elements below to be legally binding.
Here's what your contract must have:
1. Competent Parties - All parties signing the contract must be legally able to do so. This means:
- They must be of legal age.
- They must be mentally capable.
- They must not be signing under duress.
- The parties must be clearly identifiable.
2. Mutual Agreement - There must be a clear offer and acceptance:
- One party offers the contract terms.
- The other party agrees to those terms.
- No one is forced or misled into signing.
3. Consideration - Each party must give something of value. Without consideration, the wholesaling real estate contract is invalid. This could be:
- Money
- Services
- A promise to act or not act
4. Legal Purpose - Wholesale contracts must involve legal activity. If the deal breaks the law or goes against public policy, it won't hold up in court.
If you want to learn more about wholesale real estate contracts, visit our blog at: https://www.realestateskills.com/blog/wholesale-real-estate-contract
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