I need heeeeeeeeeelllllpppppppppppp!!!!!!!!!!!!!!!!!!!!!

Anja,

OK, here's the first answer: whether your buyer is a cash or loan buyer, you will still need a purchase agreement with the seller. So, the first thing to do, is to get the purchase and sale agreement from the website here and get your seller to sign that at a discounted sale price, one that will entice your buyers. Now you have control of the property and can advertise and bring in your buyers without fear of them going around you to the seller and cutting you out of the deal.

The documents should open in Microsoft Word and you can change the wording from there. Let me know if you still have trouble. Great job on finding those sellers and buyers!

Vincent

Hi Anja,
Ok..Take a deep breath. You'll do fine.
One way to get the correct wording is to go to the public records in your county.
Look up completed purchase agreements.
Also, the wording for the Notary Public is important.
Check with your "County Recorders Office" for the correct wording.
Another thing that you can do is use a "Real Estate Transaction Coordinator".
They cost around $250; but will do most of the work for you.
Also, check with an escrow company.
Ask for a "Property Profile" on each address.
Ask for the last 10 doc's on the property.
They may even give you free online access.
Make sure that you have the correct address and Parcel Number.

Hope that helps.

Jeffery

First make a new file to put the editable files in you might want to put a file on your desk top.After downloading open the file at the very top of the page of downloaded agreement click -file- then you have a drop down menu click--save as-- or save as text a box will open to --save as text-- are --save as-- depending on the file a box will open there save in your new file location. Then open the file you saved it to and you can edit the text as needed.Sometimes double click is needed to edit the spot you need to edit. Well i am new to this too and i hope this helps its the only way i could edit in windows vista operating system.

Hang in there it sounds like you may have some good deals going. This is a great site to ask for help on how to do the fine details of a deal.

Use the good information that has been posted here.

The DG family has helped us.

Steve and Veronica.

This is fairly simple...all you need it the contracts below.

1. Purchase and Sale Contract
2. Investor Disclosure and Sellers Acknowledgement
3. Discharge of Agreement To Purchase Statement (this is your invoice that your tilte company uses to pay you...if your buyer pays with cash you will no need this document.

No Notary is needed for this Purchase And Sale agreement. All you need is yourself and the seller.

When you find a buyer just pull out a Assignment Contract and fill in all the blanks.
Hopefull he will pay you in all cash...if he doesn't ..just fill all the places on the Assignment Contract and turn all the documents (I mentioned above)to your title company so they can close the deal and pay you and everyone.

I e-mailed those contracts to the seller and also the Seller's Disclosure Statement, I downloaded them all from this website. I didnt fill them out though, because the seller said he wanted to review the contracts, plus I dont know how to change them to fit the deal.

The other thing is that I tried to change the 60 days to 30 days in the contract, but the program wouldnt let me change it.

So the seller was super eager, but I havent heard from him since I e-mailed the papers.

Then today people told me that I need an attorney to draft the contracts. Also, I was told that I need to find a title company that does assignments. So I called one that got great reviews. When I asked, if they do assignment contracts, the woman said: we don' t do ANY contracts and hung up on me.

Thanks everyone, I learned a ton today! I asked everybody the same exact questions today and also reread chapters on the matter for the umpteenth time in Dean' s two books. Everybody had a different answer, but I was able to put the pieces together and finally got some clarity.

I just contacted the seller and asked him to meet me to discuss the deal, answer his questions and possibly sign contracts. I told him that all we need to do is sign the purchase agreement and the investor disclosure statement.

I don' t know what the next step is. I mean, obviously once the contracts are signed, I will inform my buyers. They sign an assignment contract with me.

Where does the title company come into play? Or do attorneys have to do assignments in Pennsylvania? How do I find that out?

I am figuring this out step by step until one fine day I will get my first check.

It' s like a treasure hunt!

Two weeks ago, when I started my journey I would have never dreamed that I would learn so much in such a short time. I learned how to build a buyers' list and how to find motivated sellers, negotiate a price and lock up a property.

Next, I need to learn what to do in detail after I locked up the property.

This is so much fun!

Hang in there you are all most there. You have been given a lot of good information.

Good luck with the deals.

Steve and Veronica.

Did you get the right paper work you needed. I hopr you did let us know.

Steve

If your buyer pays in cash just use the assignment contract when getting ready to close.
If they want to go through a title company to close you need to have one lined up that understands assignment of contract. You can also call real estate attorney's and tell them that you are looking for an attorney to close all of your assignment of contract deals. You will find an attorney who knows what assignments are all about. Assignments have been around for hundreds of years. Any contract is assignable unless there is specific language in the contract that forbids it. If you keep calling around to title companys you will find one that understands what assignment of contract is all about.
The reason people hang up on you or say no is because they are not understanding and do business one way only. Those who have been in the business a long time knows assignments are done everyday and will have no problem with closing as assignment deal.

All 3 of the deals fell thru. I finally had the right paperwork and now the sellers changed their mind.

I am gonna have a busy day again tomorrow. I am a personal trainer and have an in-home training business. I had a death in my family today and will attend the funeral on Friday.

As soon as I have a chance, I will find a new deal and apply what I've learned.

Thanks for all your help!