Welcome!
Here's the Wholesale contract to use!
(Created by Pace to protect your EMD)
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I am a Gator Lender,Have you heard of this term? It's was coined by Pace Morby and it can have a lot of benefit to you as a real estate wholesaler. A gator lender is someone who JV's (joint-venture) with you on your wholesale deal by putting up the EMD (Earnest Money Deposit). When that EMD is due before you have an end-buyer ready to cover it, and you don't have the money, or just don't want to use your own, you can JV with me!
I have all the proper paperwork to send to the real estate attorney or Title Company to allow for a smooth transaction. I send EMD directly to the Title Co./attorney. And when you close on your wholesale deal, my EMD is returned along with an agreed amount that you share with me from your wholesale fee. Everything is done through the Title Co./Attorney so you don't have to handle any of it. While it doesn't matter where you are located within the United States, there are 4 pesky states that make this process a little trickier: California, Texas, Utah and Florida. These states don't automatically release EMD back if and when you need to cancel during inspection period. Not without written mutual consent from the seller. If you are in one of these states, make sure to use the contract I've provided below for off-market deals. For on-market deals in these states, please have your agent add a special stipulation to your offer to have the seller sign regarding the release of EMD in the even that you might need to cancel. For all other states, this contract is still gold and you should use it! Give me a call if you'd like to use this service with your next wholesale deal! 808-989-8183 | ||
