Contracts and Offers

I signed a contract to rent to own and made a payment of $10,000 towards the down payment of the house. I decided not to buy and moved out. There was nothing in the contract stating the $10,000 was non refundable. Does anyone know if it's possible for me to sue to get that money back?

I am interested in this information. Please send to my
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Rosemary Avalos, member

Hey DG Fam.

This weekend I learned something very valuable and it is what will make or break a deal. When you are running your numbers in a deal be sure you include these two things.

Holding costs and Money costs ( interest for loan or private money)

Those two things I never considered when running the numbers to present to my Cash Buyers. I usually did ARV, Taxes, Insurance, Rents, Comps, Closing costs ( both transactions) Property management, Maintenance. But I totally forgot about Holding costs and interest on any borrowed money.

Just something I wanted to share that I learned in case any of you have made the same mistake.

Good Hunting!!!!

http://www.nationalreihomes.com/real-estate-news-blog.html

Does anyone have any experience using a NCND & Confidentiality Agreement along with a Separate Compensation Agreement?

I was helping someone on here who was looking of for acres of land for sale. Unfortunately, I misunderstood. She is only looking for land and mortgage NOTES. So I contacted these people from different forums who were looking to sell their land. Most own the land free and clear. They have contacted me desperately wanting to sell. I am very new in Real Estate in general, and not sure how to pursue with any transactions. I am still looking for help creating and understanding Purchase Agreements and Assignment of Contracts. So if anyone is looking for acres of land in Virginia and North Carolina. Let me know and we can try and work together on some deals. Thanks.

How do u properly set up a lease option? I know u usually give a seller a non-refundable deposit which is usually 3 mo rent and u shou;d get it notarized at the county clerks office showing that u have legal control of the property so u are in general protecting ur interest in the property. You should also have clauses in it saying u can sublease to other tenants and assign the contract to someone else. But what if the owner has a mortgage on the property and should u have an attorney draw up a contract of that type or could u use the one on this site? im confused

Can I lock up a property from another wholesaler and then assign to end buyer? How would that work? So it would be the seller to the first wholesaler to the second wholesaler to the end cash buyer. Can that work? Is there a different purchase agreement involved? Thanks for any input!

Hello!

I need to understand how REO contracts work.

I have learned the exit clauses to put when making an offer whether REO or not. I have no problem with that with a non-REO property. However, I have experienced(once) that after my offer is accepted by the bank through my agent...he(agent) gives me an addendum that overrides the actual offer besides the offer price. The bank wanted me to sign that addendum with their own terms...WITHOUT my contingencies. Looks to me that the only thing they accepted is my offer price.

Now, the question is..do I also prepare an addendum(with my agent's help) that puts back my contingencies?

Please help!

Marizel

I have a property that I have an agreement with the seller to bird dog to other investors. The property is in a suburb of Atlanta. There is no mortgage on it. It was built in the 1930's ARV is 85,000 repair estimate 25,000. I sent a bird dog agreement to two investors all communication went dead after that. I have called and left messages, I have yet to hear from either one of them. Owner is asking for 12k on it. Should I have used an assignment instead? I would appreciate any advice.