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Video instructions and help with filling out and completing Residential purchase and sale agreement
Okay this is the standard purchase and sales agreement I have on the website on the contracts page I'll put a link for it below but let's just take a couple minutes and go through it here I filled out some of the contracts you know so you can can see it filled out the first thing you're going to have is the end of the date that you're writing the contract you know pretty straightforward just whatever day you're doing it with you sitting down with the with the seller you're going to put the data in there you're gonna put the sellers name or you're gonna put the sellers name you know if there's multiple parties you're going to put all their names there so so ask them when you're filling out the contract if they're the only person on title because whoever's on title needs to be the seller on this contract if there's two people three people on title all their names have to be on there typically it's just one person or two people so make sure their names are there you are going to be the buyer so you're gonna fill in your name here where it says Joe wholesaler or Jane wholesaler as the case may be and then you always want to have this on the contract and/or assigns this is the key to wholesaling because you're when you get this property under contract you're not typically going to resell the property you're going to assign it to somebody that's that's that's how wholesaling works it's if it's a contract law when you write a contract with somebody that contract becomes property and you have the legal right to sell that property that contract you know you don't own the real estate you don't have a right to sell the real estate but you have a right to sell the contracts so that's what we're doing at all selling ninety percent of the time you know sometimes we get into scenarios where we actually closed on the property and then turn around and resell it but most wholesalers are just assigning the contract so it's important to remember you it's always got to say in andorra signs okay and then you get into just the you know seller agrees to sell and buy our greets to buy the following property and you just put in the property add the city state and zip that you know where the property is where it says legal description a properties legal description you know a lot of time has to do with the you know the subdivision in the city and the township and the county and all that stuff you don't need to fill that all in when the title company does all the title work they'll have the legal description on the appropriate paperwork so you don't have to fill that and just put Bootsy title or you put see we can.