Real Estate Wholesale Contract — Free Deal Analyzer

A wholesale contract is a standard purchase agreement between you and the seller with an assignment clause allowing you to transfer your rights to an end buyer. Key provisions: inspection/due diligence period, earnest money amount, assignment clause language, and closing date.

Purchase price, earnest money amount (typically $100-$1,000 for wholesale), inspection/due diligence period (7-14 days), assignment clause (right to assign to another buyer), closing date (30-45 days typically), and as-is condition acknowledgment. Always have an attorney review your contract.

Wholesale earnest money is typically $100-$1,000 — enough to show good faith but small enough to limit risk if the deal falls apart. Some sellers require more, especially bank-owned properties. Never put up earnest money you can't afford to lose if due diligence reveals problems.

The inspection/due diligence period (typically 7-14 days) is your window to evaluate the property, get contractor estimates, verify title, and find your end buyer. Most wholesale contracts allow you to exit during this period. Don't let it expire without either assigning the contract or having a firm plan.

No — you need a signed purchase agreement to have an equitable interest to assign. Verbal agreements have no legal standing. Never market a deal to buyers until you have a signed contract with the seller. The contract is your asset in wholesale real estate.

If you can't assign before closing, your options are: extend the closing date (if seller agrees), double close using transactional funding (if you have the spread), purchase and hold/flip yourself (if numbers support it), or exit during the inspection period and lose only your earnest money. Always have an exit strategy before signing.