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Add signed Construction Joint Venture Agreement Template

in this video we're going to talk about the jv agreement or the marketing fee agreement now if you have a property and you do not have a buyer lined up or if another wholesaler has a property and you have a buyer this is the form you would use to work together on the deal now as i mentioned in the in the purchase agreement video if you know right from the start you're working with another wholesaler you can both put your name as the buyer on the purchase agreement but if you're doing it after the fact this is the form you would use okay so let's use our same scenario you have a property under contract uh in st petersburg florida but you can't find a buyer another wholesaler says hey i have a buyer let's you know let's work together on this deal let's split the deal okay so you would fill out this agreement and you would put you know today's date and you would put the property address this addendum relates to the contract for the property located at boom put the property address between harry and sally homeowner and yourself contract date and put the date from the contract okay now you're the buyer so we're down here we're saying buyer agrees to pay jill partner the other wholesaler that you're teaming up with 50 of total assignment slash double closing fee at closing for finding an in buyer now this is you know it doesn't have to be 50 but that's pretty standard on a on a co wholesaling or joint venture agreement is to do 50 but you can you know you can change that but it's standard okay this agreement expires if no in buyer has been located and signed the assignment agreement on above property by 331 2021 so you're giving here in this example you're you're giving um jill like what uh about nine days to to find a buyer you might you know make it until whenever you you know you want the in the contract or whatever but but if you're expecting somebody to step forward with a buyer then you want to put a limit on how long they can do that so you know so it doesn't get messy so say you have five days or ten days or whatever to line somebody up okay and then you both sign it all right and in our scenario you have the purchase agreement where you put the property under contract you'll have the assignment agreement where you're assigning that property to the investor and then you'll have this agreement the jv agreement if you're working with another wholesaler and all three forms the purchase agreement the assignment and the jv agreement go to the title company now the seller only gets the purchase agreement the investor will get the [Music] purchase agreement and assignment agreement and the title company will get the purchase agreement...