I may have a deal locked up!

I may have a deal locked up!

This could be my first one. This house is a FSBO with a lot of equity.

The asking price is 185,000 but i asked him if he would take 170k and he accepted.

I want to assign this property to another investor that i know but i don't know how to fill out the contracts. Seems second nature for me to fill them out lol. Can i get a Real Estate attorney to fill them out or do i have to?

Thank you!

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"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain


you can get an RE Attorney!

you can get an RE Attorney!


So the RE attorney can draw

So the RE attorney can draw up the contracts and fill them out for me? How much they charge you in your state?

__________________

"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain


nygnyk30

Hi thats great that you may have that deal locked up. Just wondering what the FMV is on that property? From what I've been told most REI want at least 30% equity in the properties they purchase. If FMV is 185K , then I would definitely submit an offer alot lower than the 170K. Thats great that you have taken action and moving forward! Good Luck!


The FMV is actually around

The FMV is actually around 230k-250.

His asking price is 185k so i bought it down to 170k. He just wants to get rid of the house so he can be closer to his kids in California.

__________________

"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain


My attorney charged me

My attorney charged me around 200 to do all the paper work for me. That was on a Land Contract that I just did. But I think he charges a flat $150.00 for paper work then its like around $50 for a filing fee with the county.

This is in Ohio


Nygnyk30

Congratulations on this potential deal. Look forward to hearing about the progess ahead. Continued sccess..........Lubertha

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"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"


All You Want

Ivan, all you want is your first deal and the rest will fall into place. Like the saying goes, "Think Big and Make It Happen". Congrats for taking action on your first deal. God Bless.

Sandra

__________________

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