Contracts and Offers

Hey All,

I have a friend that has her mom's house listed with a Real Estate Agent and their asking $116k for the property.

I have entered the information for the property in the TotalView Real Estate Analysis System and of course went to Zillow for further information.

Zestimate says $123,000 with a value range of $106,000 - 137,000 (I rounded the numbers).

From the numbers above, how do I figure out the FMV so I can make an offer and then turn around and assign to get $2,000 - $10,000 in my pocket?

Hello,

I'm new to the website, and I'm looking to get involved in the Real Estate business. I have read both of Dean's previous books, and I'm about 2/3 finished with Your Town Your Real Estate Profits. I would like to get started with Assigning Contracts (Pre-Foreclosers, FSBO's)to get my feet wet, so to speak, before I go into other forms (probably buying and flipping REO's). I want to start out Assigning Contracts in my home state of New Jersey, but I would also like to expand this to other states with high foreclosure rates, like Fla. or Nev. I was wondering, do I need a Real Estate Agent for Assigning Contracts?

Thank You for your time,

Walter

1. EARNEST MONEY to be deposited with licensed title company or attorney within 48 hours of acceptance by
seller. The buyer will take title subject to the following loans on terms agreeable to the buyer:

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Interest rate: _________ %, Monthly Payment $___________________ Loan Number
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Date last payment made____________________________ Loan current through
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B. Loan to ________________________________________ Balance
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Interest rate: _________ %, Monthly Payment $___________________ Loan Number
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Date last payment made____________________________ Loan current through
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Hi everyone. I found a house, but not sure whether to put in an offer because the owner says it has a cracked foundation. I'm into assigning contracts. I know investors buy ugly houses with all sorts of things wrong with them, but does a cracked foundation kill the deal? Anyone ever bought a house with this issue? What is the cost to fix?

I wanted to know any suggestions on what should I do to guarantee I get paid. I have a guy that lives out of state that says he'll give me 10% of whatever he sales each of his homes for if I find a buyer for his homes in Cleveland where I live. He has tenants already in all but 2 houses and he has 20 that he wants to sale. What type of contract or other paper work should I use to make sure I get my 10% ?

Hi my name is Bill Capo. I am ready to make my first offer for an investment home but I need to word this right.

The house is $29,990, Porch needs repairs, They are motivated sellers and here is what I am trying to do. I want to bid lower, with the sellers paying closing fees and I want to walk away with $3,000.00 at closing.

How do I do this Please help

Thanks,

Bill

capo.william@****

570-498-0740

I came accross a lady who just wanted for me to noterize paperwork for her, after speaking with her she let me know that she was the trustee to a home and just wanted to get rid of it, I talked to her about it and i want to get the home under contract but then who do i assign it to??? I live in phoenix Az home is in Mesa Az.

Are land trusts in MAryland still legal?

I am buying a property subject to and would normally place title into a land trust, but was told by an attorney that Maryland outlawed land trusts.

Can anyone confirm this and cite the law which prevents it as of March 1, 2010?

Thanks

Mostly, this has to do with lowering your out of pocket costs by minimizing the amount of "prepaid interest" you pay on your mortgage at closing.

Interest on your mortgage begins running from the date your transaction closes, but most loans are due on the first day of the month. So when you close, you "pre-pay" the interest between the closing date and the end of the month.

For example, if you close on the 29th of October, you prepay one day of interest to cover the rest of October's interest. Your first payment will be due December 1st, when you will actually be paying November's interest.

Some buyers make an offer to buy a home before they even list their own home for sale. However, they need to sell their present home in order to come up with the down payment to make the purchase. So they make their offer "conditional" on the successful sale of their own home.

That is a "contingency."

Actually, it is a major contingency.

Contingencies are important in real estate contracts because they limit a buyer's or seller's responsibility to fulfill the contract and close the deal. Some are major, some are minor.

Some contingencies are frowned on -- others are not. Other contingencies are "normal."