Wholesaling Real Estate CONTRACTS for Purchase and Sales Agreement and Assignments (Day #5)

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Күн бұрын

Wholesaling Real Estate CONTRACTS for Purchase and Sales Agreement and Assignments (Day #5)
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In this informative video, we dive into the world of wholesaling real estate contracts. Day #5 of our series covers everything you need to know about Purchase and Sales Agreements and Assignments.
We'll break down the key components of these contracts, providing you with a detailed understanding of what you need to include to protect yourself and ensure a smooth transaction. We'll also discuss the differences between these two types of contracts and provide guidance on when to use each one.
Whether you're a seasoned wholesaler or just starting out, understanding contracts is critical to success in the industry. So, if you're looking to enhance your knowledge and take your wholesaling game to the next level, be sure to tune in and learn all about Purchase and Sales Agreements and Assignments in this comprehensive video.
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LEGAL DISCLAIMER: Flip with Rick, Zach Ginn, Rick Ginn are not lawyers, CPA’s, or financial advisors. All strategies, tips, suggestions, warnings, and recommendations included in the videos are from personal experience and are intended for entertainment purposes only. Clicking on JV deal links, free trial links or youtube videos in this video may cause financial benefit for flip with rick, zach ginn, and rick ginn (Example: KZfaq Ad Revenue, Joint Venture Deals, Etc.) now or in the future. Please seek legal consul from a lawyer and financial advisor before doing anything shown or recommend on this channel. Your state and federal government laws supersede anything said in this video and its YOUR RESPONSIBILITY to follow the LAWS in your state or jurisdiction.
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God Bless

Пікірлер: 230

@FlipWithRick Жыл бұрын

Join Flip with Rick+ for Bonus Lives, Free Live Events, Messaging me Personally + More! CLICK BELOW!👇 home.flipwithrick.com/plus

@patkeith47 8 ай бұрын

When it comes to wholesaling land. On the assignment contract would you keep the non refundable deposit from the assignee as high as $5,000? Or would you make it lower?

@kellya8425 10 күн бұрын

Thank you! for the contract Zach & Rick

@chantelm2219 Жыл бұрын

Hi guys I’m in Orlando! :) working on getting my first deal! Grateful for the content and future connections!

@BetterWorld0 Жыл бұрын

Same I’m by the Sea World area hoping to get my first deal this month! Good luck

@talentekhuzwayo2705 Жыл бұрын

Me too, would u perhaps like to JV

@ReyesOrtega-sb5qf Жыл бұрын

Did you get one yet !!!

@talentekhuzwayo2705 Жыл бұрын

@@ReyesOrtega-sb5qf hey, would u like to JV

@Dr_Daviss Жыл бұрын

I have buyers in Fl !

@physpsychedelicsubculturep1398 9 ай бұрын

Im yet to do my first deal but this video right here sounds like gold to me

@CashFord-mk8pj 13 күн бұрын

Did you ever do it!?

@kengtachala1867 7 ай бұрын

This channel is the best I’ve seen …period !

@kweezy40100 Жыл бұрын

Best video out there by far I’m following!

@user-ur3hi5es2w 5 ай бұрын

WoW! This guy is A+. I love how he is straight to the point EVERY TIME!

@ItsMeeQouyaa 8 ай бұрын

Thank you so much, I can’t wait to start my Wholesaling journey in April. 😊

@HDwasteSolutions 10 ай бұрын

I’m motivated! Thanks for this video. ❤

@charlesdtrost4706 6 ай бұрын

For me this was the most concerning part. I'm thrilled to have found the agreement training.

@godesofdnyte Жыл бұрын

I used this for a lot wholesale and it was so easy. Quick signature from seller

@KAI-uy3lp 11 ай бұрын

You got any videos that helped you out alo5 besides this one?

@Kianalashay408 Ай бұрын

Was it in person or docusign

@DShotU Ай бұрын

Could you share/email the contact?

@Ghostmoe 7 ай бұрын

Amazing video thank you!

@indigoLT1 6 ай бұрын

This is golden information! I was struggling trying to figure out how to write the assignable contract. I love how much knowledge you guys share. Thank you so much! Gold, diamonds, million dollar information has been shared. PRICELESS....

@stetsonharris9342 Жыл бұрын

This helps a lot need these videos..kids wife life ..this works

@Orion3800 Жыл бұрын

Rick my man your as cool as the other side of the pillow,😎 great video!!!!👍🏾

@kajunazianwelder 6 ай бұрын

wow love the content

@charlesisrael3988 Жыл бұрын

love the video cause it was very easy to understand. Thank you!

@Risktaker111 Жыл бұрын

Hey Charles . Let’s work together

@charlesisrael3988 Жыл бұрын

@@Risktaker111 work on what exactly David?

@dante009.5 6 ай бұрын

this is such a good video

@user-qc4rt7lu1t Жыл бұрын

Hi, thank you so much for the content

@steveh1460 Жыл бұрын

Great video. Makes one of the scary parts of the deal not so scary. Thanks Rick!

@rickyfiallos6223 Жыл бұрын

Thank you so much

@ReallifeofJillyRayRay 3 ай бұрын

Thanks so much ❤️

@EarthKingWaya 10 ай бұрын

Thanks you 🙏🏾

@UchartedEra Жыл бұрын

So if i needed to can i use this contract that were going over ; i just want confirmation. Still going over it with my lawyer , but i love the simplicity of it.

@Himithor Жыл бұрын

RG great vid.....If our state requires a state issued RE contract, what parts of your contract should include from your contract ? Thx

@I_Am_AVPH 6 ай бұрын

Very clear video !! Anybody able to clarify what the deposit is for on both contracts ??

@Str8fowd Жыл бұрын

Rick can you use these two contracts for flipping land?

@sickdirtbag 9 ай бұрын

Good afternoon Rick! Just wondering how long does it take for the contract pages to hit the email. Thank you

@payne4920 11 ай бұрын

June 5th was my birthday. I’m at my regular job rn sick to my stomach trying to gather myself from panicking and anxiety attacks I can’t take this anymore. I just wanna help my family and not be stuck like this anymore.

@yusecnt6003 7 ай бұрын

Any updates on your journey? I’m 17 and in my first week of starting. In need of some motivation

@Himithor Жыл бұрын

Hey RG....How do we find a real estate attorney to review the contract?

@718World Жыл бұрын

Ready!

@anerdiaz5225 Жыл бұрын

How would you go about extending the inspection period?

@caidencanales Жыл бұрын

Do you guys use their contracts as is? If not, do you guys first go over it with a lawyer first before starting?

@user-kn1cs9kl7c Жыл бұрын

Does this work in oregon? Any changes need to be made to the contracts?

@Interesting70 11 ай бұрын

Ive seen where some wholesailers, write a check, separate from deposit for the inspection period? Usually like $10 dollars. Is this necessary, and escrow used to be like 10 days now is 30 days more the standard? Thanks in advance.

@nicholastaitano 2 ай бұрын

@rick! What about line 14 from the assignment contract?

@kylethomas7768 8 ай бұрын

Quick question should you sign the contract at the title company or just anywhere ?

@mal7766 9 ай бұрын

If im using the buyers EMD to fund my EMD between the seller and I, does the buyers EMD go to me, then I send it to the title company? Or does the buyers EMD go to the closing company alone then I put a clause that states I can use the EMD from the buyer to fund the selller side EMD?

@ronaldpg8023 10 ай бұрын

So if the buyers are out of state how do you give pics if you don't use internet? However I've seen wholesale pics of property's on social media groups!

@Electricchuck23- 8 ай бұрын

Does the title company need to be in the state you live in or the state you are wholesaling a property?

@AuthorJW 3 ай бұрын

doing a virtual deal do you use docusign for signatures?

@Manman2.9 3 ай бұрын

Yes

@TonyBanda-n2s 26 күн бұрын

the contracts you provided is all i need?

@FlipWithRick 25 күн бұрын

Yes!

@tonyswanick 6 ай бұрын

Hi guys! Is the total deposit amount the same as the Ernest money that is required at the title company??

@lawrence7323 5 күн бұрын

hey rick so im tryna use the contract and upload it to doc u sign, but I'm just wondering how can I separate the purchase and sales agreement from the assignment so I can send out these contracts without any confusion?

@FlipWithRick 5 күн бұрын

Export the pages from the PDF!

@brianperry493 Жыл бұрын

What if you don’t want the buyer or seller to know how much you are making on the transaction? @22:40 they still should see what you have the property under contract?

@AccioPotterGuy 9 ай бұрын

Rick. Very important question here. Should we get a LLC prior to starting this? I mean if we dont then we have to change our email, socials, and suff later. It would also protect us if we get sued, right? Because the business would get sued and not us personally. Or should we get a few deals in THEN get a LLC?

@riothe1 9 ай бұрын

You don't need a LLC right away. Get it after you close a deal.

@alouisgene Жыл бұрын

Would I bring these example contracts to a lawyer and get actual ones?

@teevlogs5349 Жыл бұрын

For number 14 on the assignment how long in between do you like to do before the closing date?

@user-vs3ie1wt3w 11 ай бұрын

Lmk if you find out I’d appreciate it

@sydneylavail Жыл бұрын

Hey Rick if you could give me a little more information on step 3 in terms and conditions where does the 5,000 come from is that earnest deposit or.

@animefury3688 11 ай бұрын

Watever amount you put on your deposit serves as a form of security and demonstrates the Assignee's commitment to the transaction.

@ricardorivera0340 10 ай бұрын

hello im working on my first deal and was wondering exactly what am i looking for on when it come to legal description on the buyer side

@DevariusSimmons-yx5pi 2 ай бұрын

Same here did you ever find out

@jayflacko60 5 күн бұрын

Is there a part in this contract that states end buy shall assume all closing fees etc? Or any other expenses

@FlipWithRick 4 күн бұрын

Yes!!

@RizeNthryve 10 ай бұрын

I am a Realtor and started watching your videos but have a property that I know what the Seller is asking which is 40% less than the market. He went through a divorce and wants this property sold ASAP. I reviewed the COMPS and this is basically a Gold Mine. I reached out to my investors and I can Clear 100k by assigning or earn $20k through commissions. Am I overhthinking Integrity? I just don't want to lose business for knowing business too well.

@griffincoyne6459 8 ай бұрын

Do what’s in your best interest

@369josh Ай бұрын

I’m a realtor too. What did you end up doing?

@thayyang6972 4 ай бұрын

For line 12, do you have to put that new amount on contract?

@vidushrana4514 Жыл бұрын

When I signed up to get the email for the contract it never came through is it a mistake on my end? Does anyone mind sending it over to me?

@offdaair 5 ай бұрын

And to confirm we Can use this contract in Active Deals?

@sanyarsan5875 3 ай бұрын

can this contract be used in washington? also how do i use this contract with the yellow writting on the top?

@jorgevaldivieso1531 Жыл бұрын

What’s a good software to use to easily edit the contact and send without the them being able to edit

@papaboy2834 8 ай бұрын

Do you recommend double closing in order to hide your assignment fee? I'm currently selling land does that make a difference?

@user-bb9qv3du7r 8 ай бұрын

very smart you chose to sell land, unsaturated market + you can gain very good connections + parnters with construction firms

@user-bd5wr5ri6k 3 ай бұрын

Can this contract be used if an agent is also involved? and how do we add agent commission?

@robstv2805 8 ай бұрын

Are the contracts presented in the video can they be used in all 50 states

@deantonysmith7047 8 ай бұрын

Quick question received the purchase agreement but can not find the assignment contract please advise

@malikbowers3475 Ай бұрын

Should I have the seller sign the contract before buyer has seen the contract ?

@FlipWithRick 27 күн бұрын

Yes!

@lannessdrennon8226 7 ай бұрын

Where does the down payment from buyer go? Does payment go to wholesaler or title company??

@iamtheeliz 9 ай бұрын

can i use this for land as well?

@andrew681able 8 ай бұрын

hello i have a question if anybody can answer it thank you. When i sign my name if i'm independent and not with a company nor do i have a LLC. Am i just going to have to risk putting my name on it or do i put my name and i add the title company? but then i'm thinking he said you have to add president so i couldn't lie and say i'm president of the title company. HELP thank you!!!!!

@thepaperchaser395 4 ай бұрын

can I do a contract without a lawyer?

@itsdawsonpotter 6 ай бұрын

so i mean do you present BOTH contracts to the end buyer

@Jafaleitv 10 ай бұрын

I’ve been trying to download the contracts, but it’s not working. Every time I try it says sent but it’s not. I checked the Spam and everything

@reynaldojgarcia1460 9 ай бұрын

Hi,where I get the contracts

@jjcaballero5969 13 күн бұрын

How is the deposit paid and by who?

@micahlake 9 ай бұрын

Is there a separate source people are getting this contract from because it seems the link isn't working?

@virgounapologetic Ай бұрын

Do we have to do earnst money, if so how if we are bsginners with no money.

@FlipWithRick Ай бұрын

It depends on what title company will allow

@UFCedithub 6 ай бұрын

A bit late to this but i’m an 18 year old right out of highschool trying to get into wholesaling but i’m looking for the best way to learn such as who i should learn from, how i create my own contracts, also how to not make a mistake that could blow a deal that could make me lose an investment, and also most importantly how much i need to start if anyone has any suggestions or advice please reply to my comment so we can get in contact or put me in the right direction.?

@dwayneking4285 7 ай бұрын

Hey Rick is it Best to use this contract with the Disclaimer at the Top? Or edit it & Remove It?

@MarkGouveia. 7 ай бұрын

Remove it!

@lvl-savage-lvl6659 11 ай бұрын

Anyone in Pennsylvania that wants to JV and work together let’s get it I been driving for dollars!! Also doing tons of research

@aquajahhicklin7799 11 ай бұрын

✋🏾

@lvl-savage-lvl6659 11 ай бұрын

@@aquajahhicklin7799where in pa you from ? And since I posted that comment I’ve expanded my cash buyers list and built relationships with realtors 😭 im posting this at 5am just grindinggggg😂

@djoubairoudiallo5095 4 ай бұрын

Yes I’m located in Philadelphia Pennsylvania

@heavycartmedia 8 ай бұрын

Hey I don’t wanna get confused. Do we send these contracts to the title company once both are filled out? Or we send the first contract to the title company when we lock the contract. Then send it to the title company again when we assign the contract?

@K.dracoF90M5 7 ай бұрын

Yess help please

@MarkGouveia. 7 ай бұрын

someone help us!

@K.dracoF90M5 7 ай бұрын

Did lil research you take both contracts to title company after both parties have signed. After you keep rapport until everything is finalized

@369josh Ай бұрын

@@K.dracoF90M5wrong

@jazmynechavez2502 19 күн бұрын

Hi ! I’ve been trying to download your free contract but I’m not getting it . I’ve tried multiple emails and still nothing !

@FlipWithRick 18 күн бұрын

Check spam

@Spookboyz 11 ай бұрын

where can i get the assignment contract

@GaryLit 10 ай бұрын

Does this contract work in wisconsin?

@user-bd5wr5ri6k 3 ай бұрын

Can this contract be used to vacant land?

@Her_Sisu Жыл бұрын

Rick skipped #14 on the assignment contract. What date do we put in for that?

@cristiancervantes7049 Жыл бұрын

Was questioning that as well

@nicholetolbert9139 Жыл бұрын

The buyer usually has 48 hours from the date the contract is signed to send EMD to title/escrow company.

@Her_Sisu Жыл бұрын

@@nicholetolbert9139 thank you!

@KNIGHTSTOKINGS 11 ай бұрын

Is a real estate attorney mandatory for a assignment contract of a purchase and sale agreement for properties in New York ?

@oranji9890 11 ай бұрын

yes

@user-vd2nf6fl2p 6 ай бұрын

Assignment deposit goes to seller or title co.?

@ivoryeljah6536 6 ай бұрын

hey rick when you said you can put youre name as the buyer why would you put youre name and not youre cash buyers name or llc ? am i missing something you were saying

@jolenewheelis420 5 ай бұрын

Central Florida here! Looking to get my first deal under my belt ASAP! Anyone looking to JV?

@johnstoll_ 7 ай бұрын

The email to get the contract is not working. I've submitted my email several times and the contract download hasn't shown up in my inbox or spam. Is there another way to download it?

@demonknight894 7 ай бұрын

I’m in Texas and there’s a new law for January 2024 about disclosing you’re wholesaling. How do I apply it?

@Kianalashay408 3 ай бұрын

The downloadable version says this is for example purposes only. Do I delete that part ?

@DevariusSimmons-yx5pi 2 ай бұрын

Yes

@Max-ow7hy 3 ай бұрын

Can we use this contract if we start

@narutoyohannes9089 3 ай бұрын

hello I'm not receiving the contract to my email is there supposed to be some delay?

@user-ji8ll7oj1v Жыл бұрын

From Lubbock Tx here, looking for someone to team up on a deal with, let me know :)

@IAMK1NGB Жыл бұрын

Wassup whats your Facebook or ig

@iwatch311 Жыл бұрын

@user-ji8ll7oj1v What’s your facebook or ig? I’m in Houston looking to do my first one this week.

@user-sj2fm5sp7g Жыл бұрын

The contract isn’t being sent for some reason I checked spam folder and tried multiple accounts

@maytetorres7443 3 ай бұрын

Could you recommend me a title company in Miami?

@briansullivan5967 Жыл бұрын

I have a question- what if its your first contract and you don't have your own company/ business bank accont yet? Do you have to open one up before signing on "Behalf of"? Is there anyway around that on the first contract?

@cristiancervantes7049 Жыл бұрын

I got the same question !

@Dr_Daviss Жыл бұрын

You can do it in your name. Then after your first or 2nd make your LLC

@scripzy1253 11 ай бұрын

Hey can I use these contracts in Houston Texas? I’m aware there are specific things needed here in Houston

@NathanManzano-ci2yl 9 ай бұрын

Let me know if you started man I’m in Houston as well

@Paulinaruiz33 5 ай бұрын

Do u guys have cash buyers in Houston?

@scripzy1253 5 ай бұрын

@@Paulinaruiz33 yes I do!

@Couchcushion 11 ай бұрын

Hi Rick, after entering my email, I did not receive the email for the purchase agreement & assignment contract. Is there a better way to go about it? Are you still offering that? Sam

@brodyfleming4819 10 ай бұрын

I had to enter my email a couple times to get it

@norcaldavid. 7 ай бұрын

CAN I USE THAT CONTRACT AS AN ACTUAL DEAL

@ElizabethBeautyxoxo Жыл бұрын

Hi!! To #8, won’t I basically be telling them I’m wholesaling the house ??

@menaceemceefiend9716 10 ай бұрын

Basically yea, but this is a vital part of the contract that has to be there in order for you to be able to assign it to the end buyer. Regardless from what I’m aware and take this with a grain of salt you’re supposed to make it aware that you’re a wholesaler/ have intentions to assign the property and clause #8 declares that so it’s up to the seller on their due diligence to see that their property is going to be assigned and wether or not they want to continue