OfflineHello-
Been looking through all the information, reading deans books and hitting the forum. I'm ready to roll.
Have a question on contracts and earnest money though. First...
I've looked through tons and tons of posts in the forum and even in contract samples available on the site but...
Does anyone have a sample or template of the contract for assigning you present to for sale by owner after they accept verbal offer.
One that has all including and assignee in the weasel or escape clauses that say per inspection, financing and partners approval.
It seems like a lot of those have a lot of things on contract like down payment, loans etc... im going to be working with cash buyers. Second...
Maybe I'm wrong, but isn't it possible to just attach a dollar to the offer to make legal and put 1 dollar on earnest money amount. This way if exit, don't lose out.
appreciate the feedback in advance and look forward to everyone making it.
When you're assigning a property you'll use two contracts.
You'll use a standard state approved purchase contact to put the property under contract and it will include your escape clauses.
One you have the property under contract you'll then assign it to your investor and you'll use the Assignment Contract. You can find a sample on Dean's website under "Forms and Docs".
You'll give both contracts to your investor. He/She will buy the property and you'll be given your assignment fee after the closing.
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