If I understand this correctly, your buying and your repairing the home. Contract wise, you need it in writing or you lose. Real Estate agreements must be in writing to be enforceable.
What if the home doesn’t sell?
Who determines the selling price?
On another note, if you don’t have the deed, your putting your money in someone else’s house.
I have reached a verbal agreement with someone who has agreed to carry a short-term contract with me as purchaser, while I fix the home up. Once the home is fixed and sold, I will cash them out. What is the best way to handle this, contract-wise?