Contracts and Offers

Im currently looking for a agent to work with. I understand that when I do I can use them to submit offers etc. This is my question

If my agent submits an offer and has it accepted how would I get the seller to sign my contract with the assignment clause in it ?

Second Question

If my agent finds me a deal and I close on it do I have to pay my agent a commission out of my assignment fee ?

Hey Guy's! I've been wrestling with the fact of disclosing my attentions to a seller on my assignment deals.

I guess with some seller's it works ok, but with other's they feel they are being cheated out of cash.

I know when you've got a very motivated seller they don't care one way or the other.

But when you have seller's with homes free and clear that need little to no work, they seem to want to shop for the highest bidder so low balling them put's me the investor at a disadvantage in my oppinion.

Give me your advice please.

Thanks!

Rodney

I did my due diligence on an abandoned property. building dept, county clerks office,department of finance which was the last resort. I asked the clerk who was paying the taxes on the property it turns out that the owner is still paying the taxes on the home. I asked how can contact this person to make an offer on the property. He didn't know. With no more questions to ask i start to walk away a ladie that was sitting sead why dont you write him a letter. WOW! just before she sead anything, all i thought about was how can i fined this person. I must admit i had negative thoughts at that moment but dean cant say this enough, creative thinking. It wasn't my idea about the letter but she made me realise that, NO MATTER WHAT DONT GIVE UP.

I did my due diligence on an abandoned property. building dept, county clerks office,department of finance which was the last resort. I asked the clerk who was paying the taxes on the property it turns out that the owner is still paying the taxes on the home. I asked how can contact this person to make an offer on the property. He didn't know. With no more questions to ask i start to walk away a ladie that was sitting sead why dont you write him a letter. WOW! just before she sead anything, all i thought about was how can i fined this person. I must admit i had negative thoughts at that moment but dean cant say this enough, creative thinking. It wasn't my idea about the letter but she made me realise that, NO MATTER WHAT DONT GIVE UP.

I've got a scenario I'd like some input on.

I've got a guy who's selling an 8 unit (efficiencies and 1 br's; fully rented) building with a small semi-detached cafe/deli that he is currently running.

The rents are pulling in $4300/mo. He's asking $450,000 for the property. He paid in the $130s for it in 2007. He re-wired the whole property and renovated the 8 units.

I asked when was his last appraisal and he said he's never had it appraised. I asked where he came up with the 450 number. He said he was just sorta "guessing because of what the rents are bringing in". OK, dude!! (is what I thought!!)

My question is, can I ask him if he minds me getting an appraisal on the property before I move forward? I'd rather pay $300 for an appraisal than over pay by $150,000!!!

July 28, 2011
Question of the day for the help I need.
How can I find out if the forums on Deans web pg will work here in MN, without hiring a lawyer?
Without trying to get so much spam on advertising, what is the NUMBER ONE WAY TO ATTRACT BUYERS? And the fastest.
Want to put a packet together for Buyers With questions to ask of them and FORUMS that I would need to have them.
Same for Sellers, home owners, and agents. Question that would give me better understanding from each type of prospect. Would there be a different list for each of these. Questions to ask FORUMS I need for them
Anything else you may ask and say that work well for you.

Ok, here I go. I have a chance to make an offer for a friends step daughter to lease with option. She has no money nor do I. I am so new I cannot dry off fast enough.
So asking is $109,900. I have documents showing it auctioned in August 2011, but relator indicates it is a short sale and may have one offer pending.
FMV is according to assessors office $150,644.00, so equity.
I have no team really yet other than CPA.
I think that offer should be around $55,000. Plan would be to hold for as long as possible, unless option is moved on.
Perspective client seems to have solid career with a delivery firm.

I'm bouncing this off some of my advisers, but wanted to make it public also to get everyone's opinions.

Regarding a personal deal for my primary residence, I'm tied up in contract and if I throw the deal away, I lose 3,350 in earnest money, 1,200 in lawyers fees, and 400 I spent on the inspector.

The lawyer and inspector are sunk fees I suppose, so I stand to lose the 3,350 on this. (with a small loop hole chance of saving that.)

Here's the deal now:
Preface: I was up for transfer (military orders) and had to/have to report on 01AUG, so whilst shopping for primary residence, to move things quick, I offered top retail price (took the asking) on a property to execute with speed.

I'm trying to get a property under contract but I'm having trouble. I had a contract drawn up but the home owner didn't agree on some of the terms so I agreed to let his attorney look over it and tweak it..So basically they took the "And or Assign" away from after my name...My question is can I still assign it?

OK, I want to run this by the DG family here. I haven't officially used a JV agreement to do a partnership, but I know its good business practice to put everything in writing to cover all parties involved. This is a rough (VERY ROUGH) draft of a JV agreement, and I'm wondering if its too intimidating of a document.

A partnership is really a relationship, and would a document like this give someone a reason to doubt you or suspect foul play? I've got an AWESOME, SOLID deal I'm looking to partner with someone on. So, if you have $95K and want to split a profit of approximately $60K, please PM me. (I'll include info below as an attachment with the JV agreement. )