Example Of Wholesale Contract In Maricopa
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FAQ
For example, a wholesaler finds a motivated homeowner and gets a distressed property under contract for $200,000. Then, they market the property to their buyers list. A flipper sees potential and agrees to buy the home for $210,000.
Yes, wholesaling real estate is legal in Arizona as long as you follow the real estate laws of the state. As a wholesaler, you should be transparent about your role in the transaction.
A wholesaler comes into the situation with an offer for the homeowner – to put the house under contract for $120,000. The wholesaler uses their network to find a potential investor to buy the home for $150,000. The investor takes on this contract as a profitable renovation project.
Here are the key elements to include in your wholesale contract template: Parties Involved: Names of the seller(s) and buyer(s), along with their signatures. Legal Description: Property description, street address, assessor parcel number (APN), and type of property.
While it's not strictly required, creating an LLC can bring significant perks to your wholesaling venture. For starters, it shields your personal assets from any business-related debts or legal troubles.
Investors can unearth wholesale real estate deals that might not be readily visible to the general market by employing the following strategies: Driving for Dollars. Searching Public Records. Networking. Working with an Investor-Friendly Real Estate Agent. Finding a Wholesaling Partner. Using Online Real Estate Platforms.