Contracts and Offers

Hi All,

Unfortunately, my Re Agent and RE Attorney bailed on me, so I'm out here on my own (not really since I have the DG'ers looking out for me

I would like to know if any investors in MD have used the contracts that Dean provided? I want to know if these contracts are good/suitable with MD laws before I use them.

If anyone in the MD area can recommend a RE Attorney that's for real, please PM me.

Thanks.

Has anyone ever done a land contract? I have someone that has offered to do a land contract with me and would be open to financing if the downpayment was right. We were speaking and he said basically everything would be transfered over to me except for the title of the house, that would turn to me when house was paid off. If you have done a land contract before can you let me know more details? Thanks.

Jeremy

Hi. I am looking for an answer -hard to find for some reason. I thought maybe Someone could help who has done assignment deals. I am ready to do my first one and I am working with a NJ real estate agent using her purchase contract with adendum(30 day exit clause)and assignee clause. Dean said you can do this with no money out of pocket so I know I can. But my lawyer and my agent are both insisting that once my offer is excepted the contract must go into attorney review right away. I don't fully understand this because I have not actually purchased the property or assigned it yet.

Many people are asking about the strategy of multiple offers. Agents many times are only familiar with standard contract offers, not realizing that an offer may be verbal or even written on a cocktail napkin. Contract law is very specific that if two parties have a meeting of the minds, a contract has been reached, regardless of where or how it's written.

I am going to steer well away from anything legal of course, not being an attorney, but let's discuss something for a minute that will make dealing with contracts a little easier for most of you.

Escrow opens when the buyer and seller sign a sales contract, commonly called a real estate purchase agreement and receipt of deposit. The contract, along with any additional instructions, serves as instructions for the escrow officer.
Escrow assures that the lender releases the home purchase funds at or about the same time that the deed is recorded to reflect new ownership.
Escrow includes depositing, with a neutral third party, funds, documents and instructions necessary to complete the transfer.

Hi,

I have studied both of Dean.s lates books and out of all the strategies I realized that Lease Options is my best route right now. Because not having the credit or money to invest. I just need clarification on using the Lease Option contract on the Forms section. I want to assign the lease option, but it does not have the assigment after the buyer block. Can any body direct me to what contracts to use.

Max

Please can someone answer ASAP!

i have this particular buyer lined up, who is looking for a wide variety of properties.

if i were to lock a property up with an agreement to purchase contract, what exit strategy (weasel clause) should be used?

Say, if you needed to back out of a deal b/c your buyer didn't want to go through with it, what are some examples of weasel clauses that can be used?

I don't know what to do. I thought the IEE method was like an assign where I do not actually purchase the property, but in the contract it says that I am purchasing and immediately reselling. IS this a double closing? Is that the same thing as a double escrow?

Hello guys! I understand the IEE but the assignment is not clear to me. I have lawyer, REA, buyers, and sellers, houses to put offers on, etc.. But I'm not sure of the steps to assign. My lawyer said he will get the assignment contract together for me when I have the assignee. I don't want to sound like I don't know what I'm doing . Do I get the seller to sign at say 100,000, then when I assign add my profit to a second contract with the end buyer? Or do I have my money already priced in with the original contract w/seller and use the investor disclosure notice?