Contracts and Offers

Can anybody tell me why it is written: "As is, Where is!" I mean I understand the as is, and that you could move a house, but that is a more rare occurance, so why the "Where is" on the end? This has just always made me wonder....... Thanks for any help! Tammy

Hi,

I see a house that is FSBO. Before I go make an offer, I want to get some clarity on how assignment works.

If I make an offer and use the " and/or assignee(s)."
What contingency should I use just in case I can't find a buyer?

Say after the offer has gone through, I found a potential buyer and I want to assign it to him.

The Assignment of Contract that Dean have posted on this website mentioned compensation.
Does that mean the assignment fee?

For example, the house is $749K (what the seller is selling for). I somehow got the offer at $700K.

I am going to try to assign the contract at $749K. So would I put the compensation as $49K.

And even if I do that, won't the buyer feel like he is getting ripped off?

Hello - I did a search but had no result in finding some examples of introduction letters. I'd like to create a simple but effective letter to send to property owners that would inform them of my interest in their property. This would be in front of providing the contract of intent with permission to inspect the property.

Any advice would be helpful.

Thanks - David

Hi I am new here but not new to real estate however I am confused about the Agreement To Purchase Contract VS Assignment Contract. This deal is too good to throw away and the sellers are very motivated like yesterday and so am I, lol. This is the deal, #1 if I use the agreement to purchase and add "And/or Assigns", is this the same as the Assignment contract with the Investor? I hope I am in the right forum for this question but I would appreciate any help I can get. The seller called me back and said he was waiting on the contract so I need answers ASAP. This was a great conversation with the seller and I have pulled the Comps and this is a diamond in the ruff!

When writing Real Estate Purchase Contracts, you should always make sure that you protect yourself through contingency clauses within your contract. Real estate practices differ widely throughout this country. Local customs and local legislation often dictate what your rights are. For all practical purposes, the Latin phrase "caveat emptor" -- let the buyer beware -- should be your guide.
Keep in mind that the buyer generally presents a written offer to the seller. The seller at this point has three choices:
1. The offer can be accepted in its entirety;
2. The offer can be rejected in its entirety, or
3. The offer can be countered by the seller. This counter-offer then becomes a new offer to the buyer, who then has the same three choices.

Hello Fellow Investors

Just curious but, what do you make of investors who are reluctant to sign a JV or Consulting Fee Agreement? My impression is this act or lack thereof, shows a lack of integrity. My thought is qualifying a working relationship or consulting fee with a written agreement is good for business.

Your thoughts please...

Jeff

Submitted my 1st offer today and it was accepted. I had a realtor call me shortly after saying she has a family who would like to buy the property.

Not sure how to proceed, b/c I know she is going to ask for a % of the deal.

She also asked if I had a broker lic?

Please help on how I should proceed.

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.

I got a property that is in Elizabeth WV that came from a private seller and i got another person that wants to buy it...Now i remember seeing somewhere that all i need is 2 forms...One is the contract to purchase and the other one is an assignment of the contract i think?>...can someone help me ...i need to do this quickly...

Hi everyone.

I want to point out that I have never closed a deal yet so the whole process of purchasing is foreign to me.

Any help would be appreciated.

So here is my situation

Last Saturday, I went to see a house and the seller's agent or listing agent showed me the place.
I don't have a buyer's agent.

Next day, I went to see another house and this time it turns out to be my own buyer's agent. I thought she was the seller's agent, but I guess not.

I want to make an offer on the first property. Should I use my agent from Sunday to make an offer?

I was writing up my offer and was confused on a few things on how to fill it out.