Contracts and Offers

hey everyone .. thanks for reading. Im new to this whole 'wholesale' thing and Im super pumped to get started. I have a few questions if anyone can help. Hopefully Ill have success soon so I can return the favor and answer questions on here and help others!!

Question 1 - I know I need to get a good realtionship with a real estate attorney. What do they typically charge for such transactions? And at what stage do I get them involved in my deal?

Question 2 - Title Company. This part Im very unclear on. Do I use the same title company regularly? Or does it depend on what company the sellers title is held at?

Any help is appreciated and thank you!! I wish everyone boat loads of success!

Hello DG Family,

does anyone have a resource where I can get a copy of a bank authorization/release of information form? It would be much appreciated. It is not for a short sale it is for a subject to.

with gratitude,

Makeba

Im new to the game and think I am just about ready to start wholesaling. I understand completely how the whole process works. The only info I havent been able to find yet is when I get an accepted offer and Im with the seller and about to put the property under contract.. Do I make it known that Ill be wholesaling their house? What if they ask? Or if I dont and they ask how Im paying>? Do I just say I have an investor partner and the financing will be from them? I just feel that if someone knew I was just making a quick buck on their house they might pull out of the deal. I dont want to be dishonest either .. so I need to know what everyone says or what info is out in the open during this contract part. Any help is greatly appreciated!

Im new to the game and think I am just about ready to start wholesaling. I understand completely how the whole process works. The only info I havent been able to find yet is when I get an accepted offer and Im with the seller and about to put the property under contract.. Do I make it known that Ill be wholesaling their house? What if they ask? Or if I dont and they ask how Im paying>? Do I just say I have an investor partner and the financing will be from them? I just feel that if someone knew I was just making a quick buck on their house they might pull out of the deal. I dont want to be dishonest either .. so I need to know what everyone says or what info is out in the open during this contract part. Any help is greatly appreciated!

I am a little confused on this deal and it seems like I might have to do a double close. The seller has a free and clear SFH that was willed to them. They want it gone and don't want to pay a lot of inheritance taxes, so are willing to sell it for $16,500. It has an ARV of about $86k with rehab costs of about $8k tops. I think that I have an end buyer for $53K, thus my dilemma. How do I structure this deal, since the assignment fee would be approximately twice what the selling price would be? Also, I am unsure how selling it way below FMV might affect what the government would want for inheritance tax. I would appreciate any help on this. If I do have to do a double close, at least the numbers would allow it, but if there is another way, I would rather do that.

Thanks all,

Vincent

hello everyone, i have a question about the investor disclosure statement and seller's acknowledgment contract.in the 2nd paragraph what do you put in the blank space? (it's funding sources) any help would be Great. thanks I'm a newbie to the Dean Graziosi Family

This is a litte 3/1 that I saw while in the area. It was the only house on the street that really looked bad and needed work. Whenever I am in a certain area that I have not been in awhile, I will ride a few of the streets and look for FSBO signs. That's how I found this one. Now I hope to assign it for $14,000 more than the offer. This is because I agreed to pay all closing costs and I'm not sure how much that will be. And this will give me room for negotiating also.

Now I have to market it and send to my buyers (the few that I have)!

Shirley

I just put a buyer together with a seller.How would I go about securing a finders fee from the seller? Are there some type of agreement contract I should use to send to him to sign?
Any suggestions would be highly appreciated.THANKS JIM

Does anyone have good verbage for various equity contracts? I know you can negotiate them different ways, but I don't know how to spell them out to protect both parties interests if it's a buy and hold rental. I was thinking 50/50 cash flow & equity. Or they keep cashflow and I get higher equity cut.

Does anyone have advice on how you do yours?
I greatly appreciate any help.

Everyone have a great Easter!

Cami

Reach for your Dreams, and they'll begin reaching for you.

Hi everyone. I have an owner who wishes to sell me 3 homes as 1 deal price of $83k, with 20% down. Owner says equity is $350k between the three. How do I write the purchase contract where it is for more than 1 property? A group purchase contract? Or, do I do three individual contracts, one for each house? I need this done by Monday, so your advice will help a lot.

I am considering a equity partnership. I am buying them for $83k total but rehab value is $115k + $125k + $110k. So each home would be $27,667.

Two of the homes were purchased for $50k last year by the owner then he rehabbed them and have tenants in them with long term contracts. All are fully rented out.