Contracts and Offers

What type contract is used in a Subject to deal?I'm sure someone in the D.G.family can answer this ? Thanks!

Anyone preparing to make an offer on a property needs to become familiar with “contingency clauses” and how to use them to your benefit in a real estate contract.
A contingency is a future event or circumstance that might occur, but is not certain. A contingency clause in a real estate contract is language designed to protect a party to the contract – in your case, the buyer – from harm in the event that a specific event or circumstance does in fact occur.

ARV 505, List 375K, I'm considering an Offer 330K It's a short sale. It's been on the market almost two years. It needs a ton of work including water damage repair. I was not allowed to see several rooms because the rooms were locked and 20 people live there. I went to the Dep. Building and Safety to check on permits, it appears everything is up to snuff permit wise. However, I don't know what's going on in some of the rooms. I heard there may be kitchens and bathrooms.

I'm wondering if I offer 330K which is about 65% of the ARV is the right place to start? 70% of ARV is 353K. It's in Los Angeles. I appreciate your comments.

Thanks you,

Greg

With a Realtor, I only want to give $100 max for earnest money, but Realtors have told me that the Seller Agent will not accept it.I feel like it is almost bullying me.

I have also been told by an Investor, who has made hundreds of deals, never give more than $100, even if the Realtor sqawks about it.

Could you please give me your experiences, especially in the state of Texas with Realtors?

Secondly, after the ernest money is given, when assigning the Contract, does the earnest money I ask from the end Buyer come out of my Assignment Fee?

Thank you so much. I have learned so much from you all here.

To your Success and Blessings!

Hello,

I found a seller who wants to sell his home for $70,000, the totalview value is $68,000 and owns it free and clear. He has a tenant in place paying $850 a month. This is for a property here in Central FL. I am looking to lock this up as a wholesale deal. I know this is a different formula than submitting offers on the 25/1 ratio. Any help would be greatly appreciated.

Thank you,

Jenn

Hello All,

I was watching the replay of the insider's elite 2 day event and I saw something the interests me. There was a gentleman on the broadcast by the name of Micheal Lopez. He talked about a website that he makes 100 offers on. Does anybody know the name of that website??

Thanks,
Warren

AT the edge 2012 Ali spoke about how he makes many offers online. Does anyone know the specifics of where online he offers? Is this through homepath, and if so, aren't these homes that you cannot make low offers on, because he talked about making 50% blanket offers? Perhaps he makes offers online somewhere else. Thank you for any help. TAmmy

I was told that each contract is written differently in each state according to thier laws. I need to find the contracts used in Wholesaling that are legal in Florida. I think I need the Agreement to Purchase and the Assignment of Contract. If anyone that does wholesaling in florida have them please let me know how I can obtain them. Ill send you a message with my email.

I have one question also. Does the contract that you use have that part in it that states that after a certain number of days the contract is void? I want to have the right contract so I'm not forced into buying a house if I cant find a buyer with the time period.

These come up on occasion and in the state of California the seller is responsible.
Have you ever had a seller wonder what this was all about? Chances are if you're a Rainmaker you've coached your clients well, both buyers and sellers alike. On occasion my sellers are blindsided with some creative requests. Here's how I coach both buyers and sellers to prevent this from happening. Note: Buyers and sellers reading this, you might impress your agent, pay attention...

Hello everyone! I just finished looking over some of the properties that i had my agent send me. I narrowed it down to 3 out of about 10. Im doing the 25:1 strategy just like matt says to so it. Now here are my questions: After i submit my offer what do i do if i plan on assigning these properties. I know what i would do if they where FSBO, but since i am working with an agent does the system change? Where would i go from here. Now my next question is, is there a way that i can have my agent put in the offer that i will pay earnest money after closing? How does earnest money work. I heard Matt say that he only puts a dollar as earnest money and usually doesn't even give it. Should i only have my agent submit offers to FSBO or what? Please help lol!