10 Components of a Real Estate Wholesale Agreement

The components of a real estate wholesale agreement can vary depending on the specific terms negotiated between the wholesaler and the buyer/seller.

Here are ten common components that are typically included in a real estate wholesale agreement:

1. Parties: The agreement should identify the parties involved in the transaction, including the wholesaler, the buyer, and the seller.
2. Property details: The agreement should include a description of the property being sold, including the address, legal description, and any other relevant details.
3. Purchase price: The agreement should state the purchase price of the property and any other costs associated with the transaction, such as closing costs or transfer fees.
4. Closing date: The agreement should specify the date on which the transaction will be completed and the property will be transferred to the buyer.
5. Earnest money deposit: The agreement should state the amount of any earnest money deposit that the buyer will need to provide to secure the purchase of the property.
6. Contingencies: The agreement should include any contingencies that must be met before the transaction can be completed, such as financing, inspection, or appraisal contingencies.
7. Assignment of contract: If the wholesaler intends to assign their interest in the purchase and sale agreement to another party, the agreement should include provisions for the assignment and any fees associated with it.
8. Disclosure: The agreement should include any disclosures required by law, such as disclosures related to lead-based paint, hazardous materials, or other environmental issues.
9. Dispute resolution: The agreement should specify the process for resolving any disputes that may arise during or after the transaction.
10. Signatures: The agreement should be signed by all parties involved in the transaction, including the wholesaler, buyer, and seller.

These are some of the key components that are typically included in a real estate wholesale agreement, but the specific terms and conditions can vary depending on the needs and preferences of the parties involved. It is important to consult with a real estate attorney to ensure that the agreement complies with all applicable laws and protects the interests of all parties involved.