Offline-When I find a seller do I start with the Assignment of Contract? if not which one.
-If I have a buyer and seller ready to go do I use the Purchase & Sale Agreement?
-Do I have to go to a lawyer to look over these contracts or to a real estate agent? and how much will it cost.(Estimate)
Thanks, these documents are the only thing that's slowing me down to going out there and applying what I learned so far.
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1st you get the property under contract in your name using the purchase agreement between you and your seller.
2.You assign your original contract to your buyer using the assignment contract.
3.Have an attorney look over your contracts to make sure they are legal and offer full protection of your interests.
You need to start with finding killer deals, the contract part is easy. If you are making offers through a realtor, they supply the purchase contract. It must be an assignable contract. You will have to supply the assignment of contract contract.
Do you KNOW how to determine true ARV, accurate re hab costs, holding, closing and commission costs so that you KNOW what to offer in the first place? You need to know how to make your money when you make your offer, much more difficult than contracts!
Read the multiple posts on here about contracts and assigning, go to REI meetings and meet people that do it.
Michael Mangham
MD Home Acquisitions LLC
http://www.mdhomeacquisitions.com Seller site
http://www.mdhacq.com Seller site
http://www.mdhomea.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird dog and door knocker site
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Thank You Very Much I need this information that's what was slowing me down in going out there to work on it. And thanks for the extra information as well, I will learn more on it to apply it to what I know already, and again THANKS A MILLION