A real estate wholesale agreement is a contract or agreement between a real estate wholesaler and an investor, which outlines the terms and conditions for the sale and purchase of a property. In this type of agreement, the wholesaler acts as an intermediary between the seller and the buyer, and earns a profit by assigning the contract to the investor for a higher price than what they agreed to pay the seller.
The wholesale agreement typically includes the details of the property, such as its address, condition, and price, as well as the terms of the sale, such as the deposit amount, closing date, and assignment fee. The wholesaler is responsible for finding the property, negotiating with the seller, and marketing the property to potential investors. The investor, on the other hand, is responsible for conducting due diligence on the property, financing the purchase, and closing the deal.
Real estate wholesale agreements are commonly used in the real estate industry by wholesalers who are looking to earn a profit by facilitating the sale of properties to investors who are looking to purchase properties at a discount.
