In today's episode of The Whole(sale) Truth Podcast we're diving deep into the essentials of a wholesaler’s real estate purchase and sale agreement. We will unpack the critical elements that every real estate wholesaler should understand—from navigating the conversation around who pays closing costs, to the vital "property sold as is" clause. Watson also shares his personal experience, with what happened after he added the offer to pay for moving expenses and Airbnb expenses to the contract which turned into an unpredictable stay in Philadelphia for the seller.

We’ll discuss risks, and how the terminology in the agreement can play a big role in the transaction, especially when a lender calls up and says they aren't closing because the property collapsed. (Yes, that happened) and how to avoid losing your earnest money deposit.

Prepare to gain insights on how to structure your agreements to protect your interests and learn Watson's best tip to make sure a seller doesn't ghost you when it's time to sign on the dotted line. So, put your learning caps on, and let’s get started on understanding the ins and outs of a wholesaler's real estate agreement!

Download the Seller Agreement Of Sale Packet Watson uses in his business everyday and follow along as he breaks it down.

Wholesale Agreement Of Sale Packet

Send an email with the word "Assignment" in the subject to watson@thewholesaletruth.com to get the Assignment Contract Packet we use to close deals with our buyers

0:00

Intro- Download My Agreement Of Sale To Follow Along

3:38

First Things First- Have An Attorney On Deck

6:21

The 3 Fold Purpose Of An Agreement OF Sale

7:00

We Put The Airbnb In The Agreement... This Happened

11:04

The Importance Of Accuracy In the Contract

12:20

#1 Description Of The Premise

13:45

#2 Purchase Price

18:14

#3 Payment

19:24

#4 Marketable Title

20:30

#5 Closing Cost, Transfer Tax, Title Fees

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