Wholesale real estate is an investment strategy in which an REI has a contract with the seller of a property and sells that contract to another investor. I'm looking for clarification on wholesale contracts.Each contract example that I've seen has three parties: Seller, Assignee and Buyer. The first thing to do before starting to wholesale real estate is to become educated in the process. Step 9: FOLLOW UP WITH THE AGENT TO GET THE EXECUTED CONTRACT. Admittedly, the business model may not tell you everything about a company's prospects.