Contracts and Offers

I found a property listed with an agent. The agent is a brother-in-law of the seller. The property going to be auction at tax sale soon (early May). So, seller is trying to sale it. There also other liens on the property. It needs repairs…don’t know how much. Seller started a lot of projects, but didn’t finish. Going to go check it out tonight.

Property info:
3/1 1018 sq ft build 1910
2009 Tax Assess : 118k
Eppraisal.com: Est 126k
Cyberhomes: Est 91k
Listing Price: 90K
Repairs: ?

I'm brand new to this. Can anyone tell me if the Agreement to Purchase, Assignment of Contract, Lease Agreement and Lease with Purchase Option contracts are legal in the state of Texas? Thanks.

I reached out to a probate house a while ago. The personal rep called me and said I could come look at the prop today. I got there and met the brother, nice person. Looked at the house. It needs about 40k to bring it to market price, which is about 330-350k. House needs kitchen and all 3 baths gutted and redone. Every room needs paint and flooring. He is in complete denial about the costs of repair and it current condition. He said its all cosmetic and it not that bad, someone could move in as is!! I said nothing, cause it would not have ended up being a good conversation. Keep in mind he got this house FOR FREE!!!

Hello All,

I was wondering what kind of contingencies should I put in a offer/purchase contract if myself or an end buyer use CASH. I mean, shouldn't I protect myself even though they provide me with a POF letter, what if something happens and they can not buy the property. If anyone can help thanks in advance.

If a seller already has a real estate agent or realtor trying to sell their house, wouldn't it be wrong for us to approach the seller and trying to do an assignment deal?

I saw this house in homepath.com by fannie mae and it says " * Price: $92,000
* Total Rooms: 8
* Living Area Size: 2,205
* Lot Size: 14810
* Exterior: Wood
* Heating Type: Radiator
* Year Built: 1880
* Parking Spaces: 4
* Description: Fannie Mae offering incentive up to 3.5% towards buyer closing costs and/or appliances for owner occupant closings before 5/1/2010.Fannie Mae Home Path Property. Purchase for as litle as 3% down. Property is approved for HomePath Renovation Mtg.Financing."

Can I still be the middle man and get a birddog fee, and if i can how? I just finished deangraziosi how to be a real estate millionaire and I want to take action, please help a new beginner, and I promise I will try to help others as I get better.

Well I have been at this for a little over a year and still have yet to complete my first deal. I know it will happen though it is only a matter of time.

Does any one have a form they use to submit offers via Email. My thought is the more offers I make the more oppertunity I have to get them accepted. If anyone out there has a format that has worked for them and would like to share I would love to see what is working. I would be using the Email format to submit as many offers as possible, and once accepted would follow up with a legal document. My over all goal is to lock up and assign as many deals as I can.

Any help or advice is much appreciated.

Bill.

I had an idea that would be a never ending way to get contracts on fsbo's, but is it legal? If I contacted a seller and we wrote up a contract for me to buy their property and of course I had an out, but so did they if they found a buyer, would this be legal? If they were to find a buyer during the time our contract is in effect, then they could sell and I would have no recourse. Why wouldn't they want me to buy their home and if it isn't tied up to the point they couldn't sell to someone else, why wouldn't they do it? Any input would be greatly appreciated, as this idea is floating around in my head, but I don't need it to birth, if it isn't legal.

Thanks in advance,

Vincent

To Dean and support group,would it be possible to create a chat-room with voice and audio so members would be able to chat here on the site to discuss ideas
and help one another.

whurndon

I'm going out this weekend to look for fsbo and also targeting the bandit signs for we buy houses..What steps should i take once i have both pieces of information. I'm stuck! Is this assinging contracts? Do i make a offer to them and then sell it to the other person who wants to buy?
Is there a precentage i need to follow? I'm ready but stuck. How do i profit from this?