Contracts and Offers

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.

Writing up a contract for a real estate offer can be intimidating for many people. They feel as if they will make a mistake that will come back and bite them. Let's see if we can take away some of that fear.

If you are working with an agent then she will have state approved contracts to fill out. If you are making offers without an agent you can use the forms on this website located under forms and docs.

Read you contract FULLY a few times so that you know exactly what it says. Filling in the blanks is usually pretty easy if you understand the contract. Have your agent fill the first few out with you. With time you can have an agent fill out all of your contracts.

Also, use the coaches and other members of the DG family. Good luck to all of you.

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Every day I have the great opportunity to deal with many of Dean's students. It is a priviledge to get to know many of you and your stories. Many of you have overcome great obstacles on your road to success.

I would like to talk about something that keeps some from tasting the success they would like. Just today I had a guy tell me how none of his offers were being accepted. He said he wanted to do well, but that he was not getting the results he wanted. I asked him how many offers he made this month and he said "two".

After a pause I asked him if he realized that two would not get him where he wanted to be. He said that he did realize it.

With the needed adjustments and the right attitude he is going to be fine. But it does take effort. If you put in the effort it will pay off.

I have had a house fall into my lap and I'm not sure which contract I should use An Agreement to purchase or an Assignment of contract? I do not want to buy the house for my self I want the right to sale it any advice would be helpful Thanks

I'm a R.E. Sales Agent available to everyone who needs help finding great properties for sale under $60k in Florida

My Finder Fee is $3,500.00 per property. Anyone interested, shoot me an email immediately to find them asap.

Thank you and God bless you,
Liz Lyn

So what should you do if you get a property under contract and none of your investors is interested in it. You market it to the general public and still no bites.

Lets say in this case you had a 15 day inspection contingency clause in the contract and it's now day 14. Its time to back out of the deal so you can recover your earnest money before it goes hard.

Let assume you had the following contingency language in the contract. “This offer is contingent upon approval and/or inspection of the property by buyer and/or buyers partners within 15 business days of acceptance.”

Hi,

First I'd like to state that I do business in Quebec, Canada so it's done a bit differently here but maybe some of you have encountered the same problems I have.

The problem I'm having is with the person I'm reassigning the contract to. I'm currently in the process of reassigning 2 deals to people I know and they're having both the same issues. The bank is giving them a hard time (to approve the loan) because the purchase contract is not "originally" in their name. The reassignment contract has been signed. The amendment stating the the contract is now assigned and in the name of the new buyer is also signed but yet, the bank is still giving them trouble.

Hello All,

I cannot seem to get or find a clear answer on this. I want to Wholsale properties in my state of ohio but know that it can be illegal in some states? So, I am trying to find a Wholsaler here in Ohio who can tell me if they have done it successfully. Any help would be greatly appreciated.

Thanks,
Debbie

What paper work do you use to make sure you get paid in a 50/50 deal when you're bring the buyer to the table?
Thanks.

When you are trying to get deals done with no inspection, contingencies, closing in 10 days, etc. and you can't find a cash buyer, how do you get out of the contract?

Thanks