3 min read Nov 19, 2022

Wholesale Real Estate Contract: Is It Really Important?

The wholesale real estate contract is the most crucial part of the wholesale transaction. Wholesale real estate is based on the idea of selling a property without actually investing or owning it and still extracting a profit out of it. It is a legal strategy to make money without ever making an offer to buy or putting a down payment.

The wholesaler handles the contract of the house till the time they find an end buyer. Once the wholesaler has found the right buyer, the wholesaler either assigns the contract or closes the deal.

What is Wholesale Real Estate?

In wholesale real estate, the properties are sold and bought in as-is condition by motivated sellers and buyers. The property is not repaired by the wholesaler at any time during the entire process. The wholesaler simply signs a contract with the seller and later finds an end buyer to assign the contract.

Is Real Estate Wholesaling Illegal?

Yes, wholesaling real estate is legal in the US. But, a wholesaler has to follow state-specific laws for carrying out the deal in their respective state.

Only licensed real estate agents can help people sell or buy properties in the US. Unlicensed individuals cannot represent a seller or a buyer during the transaction nor can they list the home on the MLS. A wholesaler does not violate any law as long as they work with a wholesale real estate contract or own the property for a short term.

Can a Seller Back Out of a Contract?

Sellers can usually back out of a deal if they have clauses in their contract and are motivated to do so. It all depends on the contract and the situation. Because of things like:

  • The owner was able to get a better deal from another buyer who wasn’t part of the wholesale deal.
  • The seller couldn’t find a new home that was good enough for him to move into.
  • They have seller’s remorse and they do not want to sell their home again.

Wholesale Houses Near Me

RegionStates/CitiesWholesale Houses Near Me
NortheastStates Wholesale Houses in Connecticut | Wholesale Houses in Massachusetts | Wholesale Houses in New Hampshire | Wholesale Houses in New Jersey | Wholesale Houses in New York | Wholesale Houses in Rhode Island | Wholesale Houses in Vermont | Wholesale Houses in Maine | Wholesale Houses in Pennsylvania
NortheastCities Wholesale Houses in New York City, NY |
MidwestStatesWholesale Houses in Illinois | Wholesale Houses in Indiana | Wholesale Houses in Iowa | Wholesale Houses in Kansas | Wholesale Houses in Michigan | Wholesale Houses in Minnesota | Wholesale Houses in Missouri | Wholesale Houses in Nebraska | Wholesale Houses in North Dakota | Wholesale Houses in Ohio | Wholesale Houses in South Dakota | Wholesale Houses in Wisconsin
MidwestCities
SouthStatesWholesale Houses in Alabama | Wholesale Houses in Arkansas | Wholesale Houses in Delaware | Wholesale Houses in Florida | Wholesale Houses in Georgia | Wholesale Houses in Kentucky | Wholesale Houses in Louisiana | Wholesale Houses in Maryland | Wholesale Houses in Mississippi | Wholesale Houses in North Carolina | Wholesale Houses in Oklahoma | Wholesale Houses in South Carolina | Wholesale Houses in Tennessee | Wholesale Houses in Texas | Wholesale Houses in Virginia | Wholesale Houses in Washington, D.C. | Wholesale Houses in West Virginia
SouthCitiesWholesale Houses in Austin, TX | Wholesale Houses in Houston, TX | Wholesale Houses in New Orleans, LA | Wholesale Houses in Atlanta, GA
WestStatesWholesale Houses in Alaska | Wholesale Houses in Arizona | Wholesale Houses in California | Wholesale Houses in Colorado | Wholesale Houses in Hawaii | Wholesale Houses in Idaho | Wholesale Houses in Montana | Wholesale Houses in Nevada | Wholesale Houses in New Mexico | Wholesale Houses in Oregon | Wholesale Houses in Utah | Wholesale Houses in Washington | Wholesale Houses in Wyoming
WestCitiesWholesale Houses in Las Vegas, NV | Wholesale Houses in Riverside, CA

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