Contracts and Offers

I am looking for a clean and simple Purchase Agreement contract to start using on all of my FSBO DEALS I see that on DG.COM there are 2 different ones to possibly use. I also know that I can just use my states specific contract which is rather long and crazy looking. I am just curious which offer to purchase contracts other veteran members are using?

Thanks

Nick

Okay, my question is this: I was watching Greg Murphy on a video and he said that he has a seven step system for cash flow and that he tells his homeowners who are facing foreclosure that he will go in and pay back payments, make monthly payments, do repairs at no cost to the homeowner. I believe he then signs a purchase or lease agreement which allows him 30 days to the property to market or do repairs and in this time he tries to find an end buyer, but if he doesn't he does the above of taking over the debt. He later says if he can't find a buyer then he doesn;t do the deal.

SUBMITTED OUR FIRST 2 OFFERS!!!!!!!!!!~
View Edit

Hi all! This is my first journal entry.....wait till you hear this......

I have submitted several offers but have not had any accepted or countered yet. I've written and submitted thousands of offers as a retail REA... but I'm wondering if I should be doing it differently when it comes to investment properties? Instead of using the standard TREC forms (Texas Real Estate Commission), which have tons of sections that dont really apply to an investment purchase (minimum of 8 pages), should I be using a form like the purchase agreements Dean has provided (I think its 2 or 3 pages)? I don't really feel like that contract is very user friendly tho, but that could just be because Im used to the standard form.

We are brand new to this site and REI in general and need to move fast. We are currently renting due to foreclosure 4yrs ago. We are currently looking at several properties for investment purposes and also at a primary residence for our family. The primary residence property is a REO and dropped in price from $200,000 in July '12 to currently $137,000 (with a $29,000 drop since yesterday) Our question is: How much should we offer (we know the house needs some work), how do we obtain financing and how do we put a contract on the house?
Thank you for your advice!

Hope everyone has had a great 2012! This might have been posted before but I cant seem to find it in the forums. Is it possible for an ACTIVE realtor to use his/her's LLC to get a property under contract with a seller and exercise my right to assign the deal to an end cash buyer for a fully disclosed "assignment fee" without stepping on any toes...including my own. Thanks in advance for your help and insight!

Has anyone had any luck getting a free POF letter from Coastal Funding lately? It seems as though that link to the letter is always messed up. I also tried Best Transcriptional Funding and whenever I receive a free POF through them the letter is always corrupt and doesn't open.

Just curious if it's just me or my computer and if anyone else has any success with those websites to get a free POF letter? What other sites work well for a free letter of POF funds?

Thanks

Nick

If I have a property under contract that my investors are not interested in and I have to end up backing out of it, how do I do that? Do I just tell the seller to rip it up, and I will do the same, or do I have to sign something with the seller showing that the contract is no longer valid?

Thanks.

My agent told me it takes two hours to put in an offer. It's probably a bit of an exaggeration and I don't know why he'd say that. I certainly don't want to tell a 30 year veteran how to do his job. But what does the agent have to do and what do I have to do to submit an offer in 10 minutes or less? I've heard about electronic signatures.

The current offer I'm working on is a Short Sale and it involves 9 contracts and 25 papers. Included is a property specific exclusive for this property. It is dated for one year which seems odd to me. I appreciate your feedback.

I am new the real estate investing and I have learned a lot so far from getting buyers and sellers. now How so I get more info on the land? what kind of questions should I ask to get more info? how would I write this up on contract and lock it up? how should I found out what to offer? can someone please help?

Jeremiah Norton