The Wholesale Real Estate Contract is the backbone of Wholesaling Real Estate. If your Wholesale Real Estate Contract is weak, meaning it has loopholes for the OWNER to back out, then you lose all your time, money, and not to mention you most likely will be sued.
The Wholesale Real Estate Contract must be solid, but also very clear and precise. Being clear helps the owner understand it better. A Wholesale Real Estate Contract that is precise make it solid. You want to close all seller LOOPHOLES (contract outs).
Wholesale Real Estate Contract Loopholes
Loopholes allow the seller to get out of contract. However, if the seller sees a loophole and needs to back out, then most likely he will also sue you. You definitely do not want that. You can be forced into bankruptcy, and seller can come after your assets, if you did not follow our class about Protecting Your Assets in Wholesaling Real Estate.