A few wholesaling questions!

[alexk1100]

I've gotten the idea of wholesaling down except for a few details.

What kind of contract do you fill out between yourself and the homeowner exactly? Any of these available on the internet?

Now if you get the contract on a great deal and you're not able to sell it, what happens then? Assuming you made it a a binding contract by giving them some cash. Is there anything you can put in the contract to get around....screwing yourself over if you don't make the sale?

Any other questions/comments/concerns?

Thank you.

[MrBrando]

You will need an offer to purchase contract.  You should visit your local REIA - real estate investment association and meet other investors, realtors and lawyers to see what they suggest.  

There are plenty of websites that can offer you advice on what all contracts should include but I think it really depends what works for you area.  That is why you need a professional or a fellow investor to help you with that in your local area.

The best advice I can give you is to understand escape clauses.  They will allow you to back out of the contract.

Hope this helps you out,
Brandon