putting in or making offers

If the house appear to be one you want to invest in after you have done your initial walk through evaluation, present an offer. The offer should include the typical inspection clausule, that allows you time to have professional inspector to review the property for thongs like termites, mold,lead etc. This report will give you confidence in the home actual value, and will help negotiate.When presenting an offer to the seller which is below the current asking price try to justify the offered price in a resasonable way. Offer fast closing. Do what you say, so you will be known as person with integrity. I hope this helps, I am sure there will be more informed people then me. You can try this link if you plan on doing rehab http://www.rehabvaluator.com

Halina

Make sure what ever contract you use includes a ten day option period (at least ten days). That gives you 10 days to back out of the deal (rescind/nullify the contract) for whatever reason, including if you find out the property is infested, etc.

<<== Those forms over there might include a contract that works. I'll look them over, but a very basic contract would do.

Also, you want to make sure that you have a option clause in there that allows you to get out at a later date, like if you want to take out a note at the bank and purchase outright.

Owner will carry (OWC) can mean a variety of things, and the seller may already have an agent and an attorney who has prepared a contract. You'll want to make sure their contract suits your needs as well as theirs with the aforementioned options, for example, or they may just allow you to use a simple "Rent to Own," or "Rent with Option to Buy" contract. Many generic forms are online and free, I suspect. You may want to look for one that is state specific, as it may be tailored by previous users or real estate attorneys for use in that state.

just wondering if there is a different way to submit offers on properties that you will assign? I have a few great buyers in place and i am looking at a few properties but haven't put in any offers or even talk to sellers because i dont really know what to say or how to submit the offer. i guess i am scared?

Well, you'll probably only screw up the first 100 calls or so.

Most people will talk to you easily enough, but you do need to write down a couple of questions that you'll want to ask. Fear is natural, you just have to turn that fear into positive energy.

It's been my experience that most prospective buyers and sellers have unreasonable expectations. Buyers always want more for a house than it's worth, and sellers always want to pay less than the house is worth or at least get a discount on it. As a real estate agent (includes and unlicensed, often untrained wholesaler), you have to find make everyone happy, which may include educating them and yourself.

Calling is always better than e-mailing, but I always do both. I often send them a letter in the mail, too. The letters are just simple letters reminding them who your are and that you can help them.

Anyway, if you're interviewing sellers, ask (and take notes):

> Why are you wanting to sell?
> What kind of condition is your house in?
> Are there any problems you're aware of (roof, plumbing, electrical, mechanical, floors, ceilings, etc.)
> How much do you think your house is worth?
> Do you have a mortgage on the house, now, and
> (if so), do you owe less or more than it's worth?

Remember, you are trying to gather information for yourself in order to be able to make an informed decision in this case, so ask yourself what it is that you would like to know and need to know.

When purchasing a property, on the "Buyer" line always put your "name (or your company name) and/or assigns". So... "Tim Morris and/or assigns". That way you are covered if you want to assign it.

Fear is something that everyone of us has gone through. From Matt Larson and Jen Gray, etc, etc. Even Dean himself when he first started. Anyone who says they weren't or aren't afraid at first is B$ing. I was terrified that my contracts wouldn't be right or that they would ask a question that I didn't know the answer to, or...or...or...

You MUST know the nuts and bolts about what you are doing before you start, but there comes a time where you take that deep breathe, hold your nose and jump into that icy water. And then when it's done, you say, "That wasn't really that bad after all." And we are here for support.

Good luck!

Karen

PS I am originally a KY girl myself! I have been to Mt Sterling. Aren't they the ones that have the Sorghum Festival? Been there, done that.

Thanks for the info! and yes karen we have the a festival called court days. I am originally from michigan, i have been in kentucky for about 5 years.