Hey Guys. For those of you who could attend Mike’s presentation last night, you know he gave out some great information in order to help you learn about wholesaling houses.
Enjoy! and as always…use these at your own risk and be sure to run them past your attorney, etc.
Option to Purchase – this is between my company and the seller, and the seller is getting this at the appointment
Purchase & Sale Agreement – Most of the time, this will be between seller and buyer (unless I’m double closing or something)
Release Fee Agreement – this is between my company and the buyer – the amount is my release/wholesale fee
Notice of Option – This is what’s recorded at the county recorders office. It’s between me and the seller, and gets notarized.
Release of Option – This is what’s filed at closing and used to remove the notice of option from title. I’m the only one on it, and it is notarized.
Inspection Sheet – this is the list of repairs I use on appointments
Hope you guys enjoy this wonderful gift. Take care,