What are the mechanics to wholesaling a contract?

I recently got a great question from one of my blog reader’s – Dennis that I’ve decided to use as a training tool.

Dennis has attended several real estate investing seminars and even listened to quite a few webinars but all have completely failed to address his question head on.

His question is “What are the Mechanics of wholesaling a property?”

Dennis has been very confused about the actual mechanics of wholesaling.

As simple as it may sound, if you don’t have a clear understanding about the process-

you’ll be too afraid to make that move and you’ll never make any money at it!

Some new investors have a great deal of anxiety about the contracts/agreements that are required to wholesale a property.

Fear not, these can be easily obtained online and they are completely applicable.

If you find yourself in need of an Assignment of Contract or an Agreement to Sell- you are welcome to download 22 of my free forms here, save them and customize

them for your own use.

DON’T FORGET

When you sign the property up aka get it under contract, aka take it down, aka lock the property up (you get the idea) –

you absolutely MUST add the phrase “and or assigns” after your name on the purchase agreement to be able to

actually have the right to pass this deal on to a new buyer.

I didn’t ever want to risk the possibility of forgetting or leaving this essential phrase out so I added it to my purchase agreement to be ever-present.

I find that it raises fewer questions with the Seller as well, since it’s

already typed into the original agreement. Click Here for any of these

FREE forms and more- that might come in handy as you move toward

that next real estate deal.

• Acknowledgment of Right of Assignment
• Agreement to Amend Real Estate Purchase Contract
• Agreement to Sell Real Estate
• Assignment of Contract
• Authorization to Release Information
• Escrow Instructions
• Cancellation and Mutual Release of Real Estate Purchase Contract

So, Dennis- I’ve created this simple diagram on the Mechanics of Wholesaling to really answer your question about the step by step process to assigning a contract.

>>>Click here<<<<  for the Diagram. I hope it helps  and Thanks for that excellent question!

BTW…

If you have any questions that you need answered
in regards to real estate investing feel free
to leave a comment below.

Who knows!

Maybe your question will be the next one
that I answer