OfflineI have contacted an REA out of state who is a friend of the family. I have asked her to do bidding for me for HUD homes. She doesn't understand how the HUD system works but is willing to apply to be a HUD agent and follow my instructions. I am wondering if anyone has a template for an investor/agent agreement?
Thanks in advance.
DJ
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The sky is not the limit; there are no limits. There is no box.
DJ,
That’s great! The agent sounds like they are on board and ready to make things happen.
In regards to the contract between yourself and them, I would suggest doing an agreement on a property by property basis. I would not advise having an exclusive, or all inclusive agreement with the agent. As for a guideline on what to have in it etc. I would suggest using the buyer agreement their RE office uses, and then modify it to meet your needs. Again, you don’t want to sign an agreement that limits you to working with only 1 realtor, but on a property by property basis the agreement is acceptable.
Good work!
I second, third and fourth the advice given here for NOT signing an exclusive contract with an Agent!
Good luck!
Karen
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I agree with the above advice as well. There is no reason to sign an exclusive contract with an agent. If you do right by them, and they do right by you, everyone will be happy.
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
I appreciate your advice. I will use it as I go forward.
I'm looking forward to getting started!
DJ
The sky is not the limit; there are no limits. There is no box.
you don't need a contract for your agent to put in offers for you; all she needs to do is get your information and submit the HUD offer online. If offer does get accepted, she must be prepared to provide all original, signed documents, and EM to HUD within 48 hours of offer acceptance.
Keep in mind that once your offer is accepted and you submit EM with signed documents, your EM is NOT refundable, so make sure you do a thorough inspection and have a buyer ready once your offer is accepted.
I also do another inspection the day of closing or the day before to make sure the property is still in same condition as to when my offer was accepted
Good luck!
Valerie
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Hello, I am a couple days through my 30 Days to Real Estate Cash and i'm in the process of choosing the Agent I will be working with. From my list of agents i've narrowed it down to two agents. One of them is requesting I sign an exclusive agreement with them. Is that something that should be a deal breaker?
you never want to be committed to only one realtor. she will get commission on things you don't even do with her. you do not want to sign an exclusive agreement with any one realtor.
ask her would she be willing to sign an agreement to only work for you and no one else of course !!! she's going to say no. tell her its the same thing you don't know her and you don't want to commit to only one realtor. no don't really tell her that but you see my point !!!
WALT
you never want to be committed to only one realtor. she will get commission on things you don't even do with her. you do not want to sign an exclusive agreement with any one realtor.
ask her would she be willing to sign an agreement to only work for you and no one else of course !!! she's going to say no. tell her its the same thing you don't know her and you don't want to commit to only one realtor. no don't really tell her that but you see my point !!!
WALT
Thank you for your quick response and for the links provided!
to find a different agent.