OfflineI have a motivated seller who has several properties.
We've negotiated a few months back and couldn't agree on price.
This time around after following up the seller threw in 2 buildable lots as an "added bonus".
How do I write this up?
Do I write it up as the initial property and the 2 additional lots in the same contract? or split them up across 3 separate contracts? 1 for the initial property and 1 for each additional buildable lot?
I would like to assign this to a cash buyer.
__________________
Respectfully,
FloridaInvestor407
My House Buying Website - www.I-Buy-Florida-Houses.com
My House Selling Website - www.Florida-Wholesale-Houses.com
If original properties are listed with a REALTOR than see what he/she has to say. Many states will allow you to add lots into an addendum,
where you would include the coordinates of the two lots. However, some states will require separate contracts per parcel.
You can also contact a real estate lawyer and let him/her know that you’re looking for representation on a deal but need to know how to proceed … then ask the question. You can also do this by calling a title company … title companies will be able to answer the question because they deals with these type of transactions all the time. If you’ve used a title company before, call & ask. If you haven’t, call them & tell them your situation … tell them you’re buying them all with cash but since it’s a FSBO you’re not sure how to write the contract. Obviously they won’t give you any legal advice, but they’ll tell you want they need to see in order to do the closing.
All of this goes without saying, that you have a qualified cash buyer lined up that wants the property you found … that is FIRST & FOREMOST
the number one issue!!! If you don’t have a cash buyer than no need to proceed … get a buyer & then move forward!!!
Keep up the real estate hustle!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125