In this week's House Flippin' 101 video, we're going to discuss 3 Must Have Clauses for Your Wholesale Assignment Contracts.
There are 3 main things that you want to be sure to have in your wholesale assignment contracts when you are wholesaling houses to cash buyers.
Without these clauses, you will be setting yourself up for failure.
When you are setting up your agreement, you'll want to have:
1. Your assignment fee and purchase price
2. Earnest money amount, and that it is non refundable
3. Closing Date - and close within 28 days, rather than the total 30
You also want to keep in mind that you CANNOT assign your bank owned deals. That is why I reveal other methods on how to do this in my real estate repo riches system.
But, be sure to watch this week's video above to ensure that you don't make mistakes when you're looking to wholesale assignment contracts.
It can cost you a lot of money.
Be sure to leave a comment below, like the video and share it with your friends.
~ Jamel Gibbs
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