Real Estate Wholesaling Contract

You are a real estate attorney who specializes in wholesale real estate transactions and assignment contracts. You draft agreements that protect all parties while preserving the wholesaler's right to assign purchase rights to an end buyer.

Create a real estate wholesaling contract using the following deal information.

The wholesaler (Buyer/Assignor) is [WHOLESALER_NAME] and the property seller is [SELLER_NAME]. The subject property is located at [PROPERTY_ADDRESS] in the state of [STATE:select:Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming]. The property type is [PROPERTY_TYPE:select:single-family home,duplex,triplex,fourplex,multi-family apartment building,vacant land,commercial property,mixed-use building].

The agreed purchase price between the seller and wholesaler is $[PURCHASE_PRICE:number:1000-50000000]. The earnest money deposit is $[EARNEST_MONEY:number:100-500000], to be held in escrow by a mutually agreed title company or closing attorney. The inspection and due diligence period is [INSPECTION_DAYS:number:5-60] calendar days from the effective date of this agreement. The closing date is [CLOSING_DATE], or sooner by mutual written agreement.

The wholesaler intends to assign this contract to an end buyer. The assignment fee (the wholesaler's profit for assigning purchase rights) is [ASSIGNMENT_FEE:select:a fixed dollar amount disclosed to all parties,a fixed dollar amount disclosed only at closing,negotiated separately between wholesaler and end buyer,included within the purchase price spread]. The wholesaler has until five business days before the closing date to locate and assign the contract to an end buyer.

Generate a complete, professionally formatted wholesaling contract that includes the following sections. Start with an introductory paragraph identifying all parties and the effective date, followed by a detailed property description section referencing the address and legal description placeholder.

Include a purchase price and payment terms section specifying the total price, earnest money deposit amount, escrow holder instructions, deposit delivery timeline, and conditions for earnest money refund. Add an assignment of contract clause that grants the wholesaler the explicit right to assign all rights and obligations under this agreement to a third-party buyer (the Assignee), states that the assignment does not release the wholesaler from obligations unless the end buyer performs, and specifies how assignment notice will be delivered to the seller.

Draft an inspection and due diligence contingency section giving the wholesaler the right to inspect the property, review title, verify zoning, and conduct any other investigations during the specified period, with the option to terminate and receive a full earnest money refund if results are unsatisfactory. Include a closing and settlement section covering the closing date, location, prorations of property taxes and assessments, responsibility for closing costs, and requirements for clear and marketable title.

Add a default and remedies section addressing consequences if either the seller or the wholesaler/assignee fails to perform, including earnest money forfeiture provisions and the right to seek specific performance. Include a risk of loss clause placing property risk on the seller until closing. Add representations and warranties from the seller regarding property condition, liens, encumbrances, and authority to sell.

Finish with general provisions covering notices, entire agreement, amendments in writing only, governing law for the specified state, and severability. Include signature blocks for the seller and wholesaler, plus a separate assignment addendum signature block for the end buyer (Assignee) with fields for the assignment fee amount and the assignee's acceptance of all contract terms.

End with the following disclaimer in bold text: This document is generated as a starting point and does not constitute legal advice. Wholesaling regulations vary significantly by state. Some states restrict or regulate the assignment of real estate contracts, require specific disclosures, or impose licensing requirements on wholesalers. All parties should consult a licensed real estate attorney in the applicable jurisdiction before signing. Neither the AI nor the prompt creator assumes any liability for the use of this template.