WATCH THIS Before You Assign Your Wholesale Contracts

TL;DR

Learn how to secure non-refundable deposits, prevent buyers from bypassing you, and add extra clauses for profit in assignment contracts.

Transcript

wait a minute stop if you're a wholesaler and you're assigning your contracts you need to watch this video in this video i'm going to show you how to make your non-refundable deposits actually stick number two i'm going to show you how to prevent your buyers from going around you and stealing your deals right from underneath your nose and finally n... Read More

Key Insights

• 🍧 Secure non-refundable deposits by having buyers make them out to your company for control.
• 🤝 Prevent buyers from contacting sellers to maintain deal integrity.
• 🤝 Include clauses for renegotiating deals to keep any discount obtained for additional profit.
• 🧑‍🤝‍🧑 Establish clear expiration dates in contracts to avoid last-minute complications.
• 🚂 Train cash buyers to understand and comply with your deposit and communication policies.
• 🤝 Renegotiate deals before involving buyers to retain maximum profit.
• 🈷️ Utilize clauses to ensure entitlement to any negotiated discounts or settlement amounts.

Questions & Answers

Q: How can I ensure my non-refundable deposit sticks in assignment contracts?

To secure non-refundable deposits, have buyers make them out to your company, establishing control and emphasizing their non-refundable nature. A recommended amount is $5,000 for retention.

Q: How can I prevent cash buyers from going around me and stealing deals?

To prevent buyers from bypassing you, ensure they do not contact sellers in any shape or form without your written consent. Include a clause in the agreement specifying termination and forfeiture of deposit for such actions.

Q: How can I squeeze extra profit from assignment deals?

Include a secret clause allowing renegotiation of the purchase price with the original seller, entitling you to the entire difference in fees at closing. This clause can add an extra $3,000 to each assignment deal.

Q: Why is it important to have an expiration date in assignment contracts?

An expiration date is crucial to prevent buyers from waiting until the last minute to fulfill the contract, giving you time to find alternative buyers or extensions if needed.

Summary & Key Takeaways

• Assignment contracts allow buyers to take over your contract terms.

• Secure non-refundable deposits by having buyers make them out to your company.

• Prevent buyers from contacting sellers and add clauses to renegotiate deals for extra profit.