ACTUAL - Purchase Agreement/Offer

So, from what can gather, it seems that when using the standard California purchase agreement my only escape clause is to hold off signing it once it is accepted and holding the earnest money check until my buyer says yes.

Is that correct?

Regards,

Ben

I AM LOOKING FOR SOMEONE WHO MADE ASSIGMENT IN IDAHO,I WOULD LIKE TO WORK TOGETHER,AND I NEED TO KNOW HOW TO FILL THIS CONTRACT,PURCHASE SALE AGREEMENT,IN THIS CASE TO ASSIGMENT THE SELL 2 LOTS.CALL ME 2087218194 THANKS.IF YOU KNOW REAL ESTATE ATTORNEY WHO HAS EXPERIENCE IN ASSIGMENT AND CLOSING,IN JEROME IDAHO,PLEASE CALL ME 2087218194

I AM LOKING FOR FOR SOMEONE WHO HAS EXPERIENCE DOING ASSIGMENT IN IDAHO;I NEED TO KNOW HOW TO FILL THE PURCHASE AND SALE AGREEMENT OR AGREEMENT TO PURCHASE,AND KNOW ABOUT THE CLOSING,PLEASE CALL ME 2087218194.RIGHT NOW I HAVE 1 LOT FOR ASSIGMENT AND THIS LOT HAS 1 HOUSE ON IT THAT NEED TO BE TURN DOWN,IN THIS CASE I NEED TO FILL THE PROPERTY DISCLOSURE NOTICES FORM BECAUSE THE OWNER WANTS TO SELL AS LOT.

I was wondering can you Assign a Contract on a FSBO Properties or is it just on Foreclosures or PRE Foreclosures? because I have found a lot of properties around where I live at in FL and I know one of them after being remodeled and being lakefront property w/ a underground pool will easily sell for a massive profit. My self I am just getting started into investing and haven't done any deals yet since I just finished reading "profit from real estate now" around a week ago; And any advice will be helpful Thank You

Jason

You can assign anything as long as the offer is accepted, but unless you get the property for at least 30% off FMV (probably higher) it could be difficult to find a person to assign the property to.

Thank You I Appreciate it; Because I am ready to get the ball rolling on doing investment deals.

Jason

Thanks Anita, thats a good example to keep on my records as a reminder of how everything needs to be filled out. I find this site a great help to getting back into real estate investing after a 1 year absence and lots of unneeded straggling.
Thanks again.
CAM-

Hi, I am a newbie and found my first house to assign in DC. It is currently vacant and needs extensive rehabbing, but I have an investor online. I just want to make sure that I do not "burn" myself as far as the documents are concerned. What contracts do I use? I have downloaded the Offer to purchase Real estate from the DG site. From this it appear that I am bound to buy the property. Is this the right document?
I also downloaded the assignment of real estate purchase and sale agreement. Do I need both agreements signed? Sorry but I am very confused at this time and really need some clarity.
I will have them checked by an attorney before I submit, but do not want to redo them as this will cost a lot of money.

I will appreciate any help I can get.

Thanks

Hi Anitamy:

I have been reading your entry. I find it very insightful. Could you please be my mentor? One question I have is how do thes practices work in todays market?

Can you assign a short sale agreement (after the bank has accepted your offer?) and what about REO???? I think I'm missing a piece of the pie on this.

Destrie

Does anyone know if you can use the sale agreement forms on this site in California. This would be between me and the seller only.

Thanks for any help...

I'm new here, excited about possibilities and skepticle about everything too. Yes, I want to get going for real.
Here I see a lot of questions going unanswered. Are you folks getting help and answers to your questions ?
Do you have to be signed up in the real estate academy to get help and answers ?
Are people getting the support, help, and answers they need here or is that reserved for the folks who pay the big bucks to enter additional programs, and are THEY getting the support, help, and answers they need.
I see no good answers here.

I'm really trying to understand how Deans program and website work before I jump in with additional money.

Who do you go to for answers ?

Hello,

I recently looked at a foreclosure listed at 43,500 on the MLS. It lists for 40,000 on the foreclosure site. My question is this: The lower part was flooded out last year and is now totally gutted. It looks like there might be structural damage on one of the walls. How can I word a contingency that would allow me so many days after acceptance of offer to get the structure examined? I would also like a well/septic test done.

I would like to avoid paying for these tests out of pocket before I get an accepted offer. I also have to worry that the offer will get accepted, then find out there is structural damage. Any suggestions?

This is my first post, and I would like to thank you in advance for your help. This site is great!

I just want to make sure that im using the right documents when im in front of the owners. What contracts do I use? I have downloaded the Offer to purchase Real estate from the DG site. From this it appear that I am bound to buy the property. Is this the right document?
I also downloaded the assignment of real estate purchase and sale agreement. Do I need both agreements signed? please i need some help from anyone.

Hi Anita My name is Sabrina and ive just begun to try and get all this info into my head but i am so scared to try because the books are confusing to me especially those contracts could you give me some insight on them please. I don't know where to start.

thanks
confused in PA

Thanks Anita for your help. Seeing a real PA makes this new RE thing even more real to me!

GREAT INFO ... thanks for sharing this with us. When you assigned that Purchase and Sale CONTRACT, did you have a lawyer review and revised the Assignment Agreement? Thanks in advance.

Marcus

When making an offer on FSBO deals, do you normally use an agent. Thanks in advance.

To who ever reads this and knows the answer.

When you make an offer, verbally, email, etc.; do you or your agent make the offers? I am willing, and almost want to myself because I feel I can explain why and how I came to that offer price rather than having someone just put a number out there when people will just get mad about it because there is no explaination. I am just curious. I have been having my agent put the offers in, but I am needing to know this. Thanks for all the information on this and all the other posts everyone.

Richard
Bothell, WA

If the property is listed thought the Agent you probably should go though them If its not listed i would definitely want to do the offer myself so I could explain why.

Randy

ANYONE IN MD THAT HAS DONE DEALS ALREADY, AND WOULD NOT MIND MENTORING/GUIDING ME TO MY FIRST DEAL, I WOULD REALLY APPRECIATE IT. I'VE READ ALL OF DEANS BOOKS AND HAVE BEEN TO SEVERAL SEMINARS AND HAVE READ DAYS/WEEKS WORTH OF REAL ESTATE INVESTING/PROFITING. I'M REALLY FEELING STUCK IN A RUT AS FAR AS GETTING THE FIRST DEAL UNDER CONTRACT. I DON'T MEAN TO SOUND NEGATIVE BUT IT IS FRUSTRATING TO FEEL LIKE I SHOULD AT LEAST 1 DEAL UNDER MY BELT, AND OF ALL THE HRS/DAYS/WEEKS/MONTHS I'VE PUT IN SO FAR, I FIND MYSELF STILL ON THE FIRST STEPPING STONE WEARING LEAD BOOTS ! SO...IF THERE IS ANYONE IN MD OR THE USA THAT COULD FIND THE TIME TO AT LEAST REPLY TO THIS POST WITH SOME ASSISTANCE IT WOULD BE GREATLY APPRECIATED. AND MAY EVERYONE WHO ALREADY HAS THE BALL ROLLING, MAY YOU HAVE CONTINUES SUCCESS IN YOUR REAL ESTATE JOURNEY.

Hi Ontel,

I just read this entire forum topic, going back to the top of the first page, as well as the one at the top of "contracts and offers" entitled "are assignments legal in my state?" A few people have posted very helpful info related to maryland, and contracts in general.

What I have gathered is that assigning is a legal process, don't let anyone tell you it isn't, and in maryland, what we need to do is take Dean's sample contracts to an attorney that specializes in real estate, has handled assignments before (and doesn't charge an exorbitant fee- some don't) to add any addendums that are appropriate for our state.

Also, Anita (above) suggested that, once we find a real estate agent that works well with investors (Dean teaches us how to do that in the Profit Right Now book), have them print out a blank contract that they use.

We're both in the same shoes, learning as we go along. I'll share any more info I find out. Sorry if you knew all this stuff already. I just get excited when I see someone on this site that's from Maryland!

Best of success!

Angie

Thanks Rina ,
I was just wondering if its ok to agree to RE on the $500 as EM and also whether I have to pay it before the offer is accepted or after.
Your explanation is very helpful.

But one thing though!
:- Can offer be made to the bank through RE without paying any earnest money at all?
Anybody experience such a thing ??

I am here everyday. sometimes I make a comment.Today I have to say a special thanks to Anita who take this time out of her busy schedule to deliver yet another gold to us . I am including Rina as well you both know I always admire your strength and selfless gifts on this site. Anita, and Rina god will continue to bless you THANKS AGAIN .
Veronica

hello I am a newbie to real estate and now also to this site. I must say from what I have already read it is very helpful and its members are very insightful and willing to help

I have a question as to assignment of contracts, I am about to lock up a purchase agreement however do not know how to calculate the assignment fee. Is there a formula that is used once a FMV has already been determined? can someone provide me with an example?
Also if there are any investors looking for investment properties or a property locator in Florida, please feel free to contact me Angel Roche 786-512-4375

Hi Anita I am about to close a deal. please explain to me the procedure after the buyer has sign the contract.Thanks

I'm so happy that everyone else has the same questions swimming in my head!

Can someone help me? I'm trying to find an attorney in VA who can review my forms to make sure that I am using the correct ones to make assignment offers. So far, I have been told by one that I can only make assignment offers to the banks directly as short sales have clauses in them that will not allow me to assign the property to an investor. The forms I have are from Dean's book(s) but, I can't find any one here who can help me! I'm totally frustrated, I've been busting my buns in finding my investors, getting everything set up, website, etc. all I need is the ok to use the forms here and find a REA who can close these types of transactions. I have two hungry buyers waiting on me. Can someone help me? Please....

The Great One has spoken, and Rina I know Ill take your advise any time !

Steve

I'm very confused as to which forms are needed and in what order. Can someone help, please!! I am a newbie, but very determined to be one of Dean's success stories.