OfflineConfused.......
I'm not sure exactly what i am supposed to do when it comes to writing up a contract. do i write the contract then show it to the seller than an attorny? Do I ask an agent or attorny for a contract that would work. the seller has informed me that he only accepts offers from people who take the time out to write a contract. very ubderstandable. but how do i know if my contract is legal. do i shjow it to the attorny or an agent before the seller see it? Hittin a roadblock......Any response would help.
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Go to your attorney, ask them to draw up a contract with your exit clauses in place, they know what is legal and what is not in your state, make some copies and keep them on hand.
How much would it cost to have an attorney do that? Would that be part of the closing costs or is that something i have to pay up front?
when assigning a property, how much should one mark it up for the cash buyer?
Hey brendtzone check out my journal and tell me what you think.
Not everyone can afford an attorney to draw up a contract when investing the first time.
Is this property a FSBO or listed with an agent? (I'm guessing FSBO). If listed, use an agent. If FSBO, like Richie said, use an RE attorney. It will cost some, but if you are not familiar with the contracts, it will be very helpful to have someone work with you on the first one. Of course, before you offer make sure you know that you are locking up a great deal, and know what your exit strategies are (what you plan to do with the property).
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
So what do I do? I dont have the money to pay for an attorney. But i do understand the contracts. Should i just use the offer to purchase aggreement in deans resources? I have a seler that is waiting for me to make a move. And it a very good deal. it's a rehab that the end investor can make over $35,000 so its a god deal. But the seller is an investor and he will only take offers in contract form so he knows who is really serious. What should I do?
So you if HAVE an end buyer? Use those two agreements. If you still have to FIND an end buyer, but you KNOWWW it is a great deal (did your due diligence?), then lock it up using either the Offer to Purchase from the site, or get a copy of your state-approved agreement. Make SURE you use your contingencies (escape clauses), either way.
I would still highly recommend using an attorney, or at least reviewing with an agent, but yes, that is the agreement you would use.
Can you give any more details about the deal?? numbers??
Good luck, and congrats on taking action!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
It much appreciated
I have a few investors that i think would be interested in buying this property from me. but once its locked I can advertize it. Im curious as to what i should do as far as making an offer. Should i just make my offer and let an attorney look at it after its accepted? How much are they gonna charge me to have them look at it? Should i just bring it to a realtor? again any responses are appreciated.
****Knowledge without ACTION = Failure****