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A Complete Guide & Breakdown of Real Estate Wholesale Assignment Contracts – FREE DOWNLOAD

In a real estate wholesale deal, real estate wholesale assignment contracts are the tools used to ensure that the deal finder gets paid.

What is a wholesale assignment contract?

Finding and creating real estate wholesale deals is an awesome way to make $20,000 – $40,000 every month.

In order to do that, a person who is essentially a marketer would:

  1. Find motivated sellers from lead sources such as unwanted inheritances, pre-foreclosures, tax defaults, expired mls listings, for sale by owners etc
  2. Put a house with an accepted offer under an assignable contract with a purchase price = 65% of the after repair value minus repair estimate.
  3. Then assigns the contract to a end buy who now pays a fee for finding the deal.

This contract and its content varies from state to state. Therefore the best place to find the appropriate one is at your local rein (real estate investing association)

Gurus and coaches may have generic version embedded inside their course.

But it’s better to find the one use consistently by asking active real estate investors and wholesalers in your local market.

That can also mean that you have to offer to work with or for existing investors for free.

The bottom line is that a good relationship can become handy here.

Even as you build relationships by bringing value to them, you can download or send the PDF version of the whole assignment contract to yourself by email from the investors computer.

It’s not stealing? It’s friendship.

In my opinion, finding a wholesale assignment contract is the least of your problems.

Your focus should be in finding deals, finding motivated sellers, finding and building a list of end buyer.

WATCH THE VIDEO FOR MORE.

Without an agreement as evident by an executed real estate wholesale assignment contracts, you can’t collect an average of $25,000 per deal from wholesaling real estate.

This document is what initiates everything and it is the main commodity that you acquire rights to so that you can sell that right to others.

That’s essentially what we call wholesale real estate; a very lucrative business model.

About Real Estate Wholesale & Assignment Contracts

There are 2 types of contract usually involved in any given real estate wholesale deal.

But that’s not it; there are also 2 different types of contracts combinations that you can have with any deal.

Let’s talk about the 2 real estate wholesale assignment contracts first.

At least one simple but assignable real estate purchase contract is always present in any wholesale transaction.

This represents the agreement between you as a buyer and the seller of the subject property.

In addition to that one contract, a 2nd type of contract is needed to secure your finders fee when you do find an end buyer for the deal.

You have 2 choices:

(1) You can either assign the contract between you and the seller to an ended buyer using a real estate assignment contract

  • (i) Simple Real Estate Purchase Contract
  • (ii) Real Estate Assignment Contract

OR…

(2) Another simple real estate purchase contract may be execute between you as a seller and the end buyer…

  • (i) Simple Real Estate Purchase Contract-A
  • (ii) Simple Real Estate Purchase Contract-B

In which case, a 2nd transaction and/or closing will be conducted by the closing agent(s).

This is called DOUBLE ESCROW or DOUBLE CLOSING which means 2 sets of closing cost will be incurred to consummate the deal and go home with $5,000 – $82,000 each time you do it successfully.

The 1st choice which is to assign the original contract to an end buyer with an assignment contract will only involve that same ONE transaction.

The disadvantage of it however is that your seller will be exposed to your fees which can trigger unnecessary greed.

They may start asking for more money than they initially agreed to.

In fact, it happened to me on my first deal back in 2005.

When you download my book Smart Real Estate Wholesaling for free, you will also gain a free access to a Simple Real Estate Purchase and Assignment contract PDF.

Also, look out for a contract PDF generator with all information pre-filled for you.

We are working on that at the moment to make your life easier when it comes to cranking them out and locking them under contract with speed.

7 Essential Parts of a Real Estate Wholesale Assignment Contract

Real Estate Wholesale Contract(1) Parties

This is the part of the contract that specifies who the seller is and who the buyers is.

In an assignment contract, the parties would be the buyer and the assignor and the end buyers as the assignee.

(2) Property

Your contract have to specify the address and/or legal description of the subject property whose deed is being transfer to another owner.

(3) Price

In legal terminology, some call this the consideration.

Basically, what is being exchanged for the subject property.

(4) Deposit

The earnest money deposit (EMD) is the amount that the buyer is willing to put as downpayment and goodwill at the point contract execution.

For the end side of the transaction, I require the EMD to be non-refundable as my security to protect time and ensure that the end buyer is serious about the deal.

This is possible because we only deal in deals that are actually good deals and steals for an average buyer investor.

(5) Term & Terms of the Real Estate Wholesale Assignment Contracts

When I say ‘term’, I mean a limited time for inspection, funding commitment and closing must be specified.

In addition to that, terms and condition for the transaction must be explicitly specified on the contract.

This may include disclosures and disclaimers with desire clauses to property the parties involved in the sales agreement.

(6) Signature

The contract has to be signed by all parties involved in the transaction.

Spouses of involved parties may also be required to sign the real estate wholesale assignment contracts if involved in qualifying for funding the deal.

(7) Date

Last but not least, the contract must be dated while signing it so that accountability and requirements from each parties between execution and closing can be properly controlled and monitored.

In addition to these essential 7 parts, a real estate assignment contract need to reference the original sales contract between you (as the original buyer) and the seller.

RELATED – wholesale assignment contract real estate wholesaling contracts pdf form free template purchase agreement what does it mean to assign a in fee.


Are you STRUGGLING in launching or... GROWING your Real Estate Investing & Wholesaling business?- FREE BOOK ($97 Value)

Are you having a difficult time generating motivated sellers, qualified buyers and closing your 1st or NEXT deal? Is your dream to build an empire to sustainable heights heading down the drains?
Smart Real Estate Wholesaling The creator of myEmpirePRO, OLA Tux Abitogun, is giving away all the secrets in this book... Smart Real Estate Wholesaling PLUS BONUS BOOK "Real Estate Money Secrets" ...and he is giving away a limited amount of both books for free ($97 Value) for a limited time. Would you like the secrets of learning, earning and building your lifestyle, business and real estate empire simultaneously with leveraged and minimal effort? This book is your gateway to 10X and may be even 100X your business and income using the art and science of attraction. Smart Real Estate Wholesaling also serves as a manual for all types of businesses, aspiring and experienced entrepreneurs. In addition to the download of these 2 books, I will also give you exclusive access to a free bonus an optional million dollar opportunity to be coached and mentored by OLA personally. Simply tell us your email address below and the book access will be instantly sent to you. You will have options for Paperback sent to you as well as Kindle or PDF downloads.

Padilla 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Awesome book!!
Excellent read!!

Cliff R. 4.0 out of 5 stars ⭐⭐⭐⭐ Full of actionable, useful information for sure.
The author does an excellent job of cutting through much of the real estate wholesaling BS that is prevalent in the market. That is to say while most gurus are teaching what they DO NOT DO, Ola outlines steps of creating value at the center of your marketing. His down to earth delivery just makes sense. He speaks of leveraging technology, the importance of multiple income streams, and an overview of the real estate wholesaling business in the new age of business marketing. For example, he mentions that many people don't even like their family members stopping by unannounced, so how can you expect them to be ultra receptive to a stranger popping up looking to capitalize on a misfortune. Of course that's not how the "Door Knocking" conversation would be framed, but that's exactly what it is. All in all I enjoyed the read and if you plan on making action your focus, you will too.

Brian Ellwood 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Solid Advice From Someone Who's Been There
Ola is a legit real estate investor and marketer. He's a real student of wholesaling and marketing - his approach to marketing for wholesale deals - ADD VALUE - is recession proof and feels right. Don't pass up this book!

Melton Thomas 5.0 out of 5 stars ⭐⭐⭐⭐⭐ A true mindset shift!
As a virtual real estate wholesaler and investor, it makes sense to me to optimize my approach and use technology to drive. This book gave me a clear, concise framework that I could leverage and implement!

stacy 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Amazing
This book is amazing and very beneficial. The author is very knowledgeable on the concepts at hand. Definitely a great book to read.

Real Estate Wholesale Assignment Contracts Related and Frequently Asked Questions (F.A.Q)

How do I fill out a wholesale real estate contract?

A wholesale real estate contract requires the name of the parties (buyers and sellers), the subject property, consideration, terms and proposed closing date.

How do you get wholesale contracts?

You can download a sample copy of a wholesale real estate contract to be previewed by your attorney by simple downloading our free book, Smart Real Estate Wholesaling, from our site.

Is assigning a real estate contract legal?

Yes. Wholesale real estate contract assignment is legal however doing multiples as a business may require being licensed in some states.

What is a wholesale agreement?

It is simply a wholesale real estate contract used by wholesalers to lock properties under contract with intentions to assign the equitable rights of the contracts to another able and willing buyer in exchange for a wholesale fee.

How much money can you make flipping real estate contracts?

Based on my personal experience with wholesale real estate which is essentially flipping real estate contracts, you can make as much as $82,000 from one deal and as low as $1,000.

I have however walked away from deals with nothing just to help a homeowner.

Also, there are numerous success stories of people verified to have made as much as $200,000 from one deal.

It’s a lucrative business once you understand that it is driven by your ability to market sustainably, profitably, efficiently and effectively.

How do you make money assigning real estate contracts?

The first step is to generate quality leads in quantity.

Then you will prospect and pre-qualify for motivation, lock the subject property under contract at a price that is at least 35% less than it’s presently value adjusted for the estimated cost of repair.

Last but not least, you can assign the real estate contract for a wholesale fee.

Who buys real estate contracts?

Traditionally, cash buyer investors are the ones who buy real estate contracts.

But in the digital and information era, anyone with a decent credit and a down payment of 10% can use private funds and hard money lenders to purchase real estate contracts from wholesalers with intention to fix and flip.

What is a wholesale contract?

There is no such thing as a wholesale contract by itself. But some may refer to a regular assignable real estate purchase contract as a wholesale contract. That may also include joint venture agreements.

What is a wholesale real estate contract?

It is simply an assignable real estate purchase contract as a wholesale contract.

Traditionally, you can add as assignable clause “an/or assigns” to a the name of the buyer on contract to turn a regular real estate purchase contract to a wholesale contract.

However, there are many creative structures coming up these days that you should let your investor friendly attorneys worry about.

How do you get wholesale contracts?

You can get one by simply going to our website and downloading our free book Smart Real Estate Wholesaling and the downloadable comes with wholesale contracts that you can check with your local attorney.

How do you assign a purchase agreement?

Traditionally, you can add an assignable clause “an/or assigns” to the name of the buyer to turn a regular real estate purchase contract to a wholesale contract.

Once that is in place, it’s a matter of letting potential investors on your private list know about the new deal and the potential profits.

In essence, it advisable to build a health investors list perpetually as it represents as asset.

Is assignment of contract legal?

Yes assignment of contract is legal however doing multiples as a business may require being licensed in some states.

How does assignment of contract work?

It works by first adding assignable clause “an/or assigns” to the name of the buyer to turn a regular real estate purchase contract to a wholesale contract.

Once that is in place, it’s a matter of letting potential investors on your private list know about the new deal and the potential profits.

In essence, it advisable to build a health investors list perpetually as it represents as asset.

How are assignment fees calculated?

Your assignment fees has to be factored into your deal estimation.

Feel free to use the free tool at DealEstimator.com to easily factor your fee with the after repair value, repair estate and margin factor depending on your location.

Are you STRUGGLING in launching or... GROWING your Real Estate Investing & Wholesaling business?- FREE BOOK ($97 Value)

Are you having a difficult time generating motivated sellers, qualified buyers and closing your 1st or NEXT deal? Is your dream to build an empire to sustainable heights heading down the drains?
Smart Real Estate Wholesaling The creator of myEmpirePRO, OLA Tux Abitogun, is giving away all the secrets in this book... Smart Real Estate Wholesaling PLUS BONUS BOOK "Real Estate Money Secrets" ...and he is giving away a limited amount of both books for free ($97 Value) for a limited time. Would you like the secrets of learning, earning and building your lifestyle, business and real estate empire simultaneously with leveraged and minimal effort? This book is your gateway to 10X and may be even 100X your business and income using the art and science of attraction. Smart Real Estate Wholesaling also serves as a manual for all types of businesses, aspiring and experienced entrepreneurs. In addition to the download of these 2 books, I will also give you exclusive access to a free bonus an optional million dollar opportunity to be coached and mentored by OLA personally. Simply tell us your email address below and the book access will be instantly sent to you. You will have options for Paperback sent to you as well as Kindle or PDF downloads.

Padilla 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Awesome book!!
Excellent read!!

Cliff R. 4.0 out of 5 stars ⭐⭐⭐⭐ Full of actionable, useful information for sure.
The author does an excellent job of cutting through much of the real estate wholesaling BS that is prevalent in the market. That is to say while most gurus are teaching what they DO NOT DO, Ola outlines steps of creating value at the center of your marketing. His down to earth delivery just makes sense. He speaks of leveraging technology, the importance of multiple income streams, and an overview of the real estate wholesaling business in the new age of business marketing. For example, he mentions that many people don't even like their family members stopping by unannounced, so how can you expect them to be ultra receptive to a stranger popping up looking to capitalize on a misfortune. Of course that's not how the "Door Knocking" conversation would be framed, but that's exactly what it is. All in all I enjoyed the read and if you plan on making action your focus, you will too.

Brian Ellwood 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Solid Advice From Someone Who's Been There
Ola is a legit real estate investor and marketer. He's a real student of wholesaling and marketing - his approach to marketing for wholesale deals - ADD VALUE - is recession proof and feels right. Don't pass up this book!

Melton Thomas 5.0 out of 5 stars ⭐⭐⭐⭐⭐ A true mindset shift!
As a virtual real estate wholesaler and investor, it makes sense to me to optimize my approach and use technology to drive. This book gave me a clear, concise framework that I could leverage and implement!

stacy 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Amazing
This book is amazing and very beneficial. The author is very knowledgeable on the concepts at hand. Definitely a great book to read.