Contracts and Offers

I recently posted some information in another category and referenced resubmits of offers. Since I have found, and have learned from many other experienced investors that resubmitting offers at a later date can increase your number of accepted offers by a factor of 25% to 40%, I decided that this information deserves to have its own heading.
In the program, we teach the 25:1 formula for estimating the number of offers you must submit in order to achieve one acceptance. Repeatedly, we hear that this formula is accurate.
But what if you could actually improve that ratio? A 25 to 40 percent increase in accepted offers could actually move that ratio to somewhere between 15:1 and 20:1.
Resubmits are effective for the following reasons:

Anyone have a suggestion on filling the PDF forms out on the computer instead of by hand? Have I missed them on the DG site or in the materials we were given?

I have a buyer of one of my wholesales wanting to make a deal for me to "stay involved" as a partner in some way. He wants a local partner with equity, not a straight management co. The deal is I got the house at 32 and wanted a fast flip so i told him 35. My partners don't know about the side deal. They are not really interested in dropping it any to get an equity (what % would a grand be anyway?) so I'm looking for a creative idea. one idea I had was to do management (10% gross savings) for 15% partnership. Sounds OK, maybe not. Thoughts? How do I protect myself if (since he is 85%) he does something stupid? hold harmless? Just be an equity/financial partner (except he wants me as local to be a decision/active partner).?

Does anyone have one created that they would like to share?
-excel spreadsheet

Thank you in advance

I wanted to put an offer on a property today, but my agent told me that they are looking for at least 30% earnest money. How the heck do I come up with that? This is my first time doing this with no money.

Thanks

Help please

I marketed a property to one of my cash buyers before i put it under contract. He wants to know the address. How do I protect what I am trying to do?

Thanks

Many times I am asked about what contract to use when writing up an offer. There are so many out there and there is even a good one on this site under the Forms and Docs in Student Resources.

I use the state approved contract for offers whenever I can. These contracts were developed by the National Association of Realtors. In most cases the contracts were written with or at least approved by the various Attorney General offices in the various state.

These contracts meet the requirements of the states where they are used. The Realtors continue to keep the contracts updated in conjuction with the various Attorney General offices.

These contracts can be found by calling your state's Division of Real Estate. You can download them usually for free.

Hello Fellow Dean Students,

I found a REO in my area. The property is selling for $14,900 and the listing agent is making me sign a SPECIAL SALE CONTRACT. I looked it up on google because the agent said I couldn't take the contract home to look over. I'm having a hard time understanding the contract.

I'm wanting to double close on the this property but I can't add on any contingencies to the SPECIAL SALE CONTRACT. How can I close on this deal with OPM while providing proof of funds?

Welcome all advice
Thank you,

Liem Ho

I overheard an interesting discussion last night regarding assignment of contracts and marketing them for sale via websites such as Craigslist.

If I am NOT an agent or broker but I have a house under contract can I legally post it under "for sale by owner" or would I have to put it under "for sale by broker"?

I technically am NOT the owner of the property...

Any thoughts on this?

Can anyone explain SAFE ACTS used for underwater homes? Thanks, Tammy