OfflineEvery time I find REO's or foreclosures the banks have their own contracts which are prefilled. My goal is to be able to double close on this properties, in order to do that, I need to use an investor friendly title company, which I have, but the banks want to use their own escrow company wich they already prefilled in the contract.
*What do you guys do in this situations?
*Do you use the bank's contract or you send the offer with your own contract?
*Am I missing something here?
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I have read that you customize your contract to include clauses etc. suited to your need.
Dont let them bully you. You can make any offer you want and with your terms. All they can do is refuse and or amend the contract which I highly suggest you have reviewed by attrny. or review with a contract specialist EVERY time it moves across the table.
Anyway. stay in there. You are doing great and that makes me feel inspired.
Also can go to legalzoom, or uscontracts there are options. Findlaw has some good articles and links too. Always check , then check again, just in case..
Kudos!
jewellztee
Juliet Thomas Ca.
thats what I thought
what contract you use.
What matters is what the bank and attorney will and will not accept. They might not accept 30 days; they might say you have 5 business days to do your due dili and close with no extensions.
They might not accept an inspection clause, and say its as is.
They might not accept transactional funding as a POF and want a bank statement.
Reality is no one person has THEE contract to a property; several people can have a contract on a particular property and whoever can provide the finding and close first gets the prize
thank you guys.
I will always use my own contract using my own title company.
The Matt Larson way and send a lot of offers and let see how the banks responde to that...
Any DGer doing it in Miami Florida????
When making offers on Bank owned, or shortsales, its best to use your states standard purchase n sales contract. You can google your states contract,and any other states contract online. Banks frown on investor contracts.
have anyone gotten an offer accepted using your own title company to close?