Contracts and Offers

The place I have under an assignment is about to expire after 3 months. I have just recently started to work with the owners with other options on the place. They were considering keeping it and finishing it. But this past week they had a set back and she called and would like to be extend the contract and go forth with it now.
It is under a contract for Purchase Agreement with option to assign. Do I need to re write the contract or can I put an amendment on it.
Sandi

If you 're making a low offer on a property through a REagent, ask to accompany the REagent when offer is delivered to seller in person. This will allow YOU to speak w/seller and explain your offer. It really helps and can make the deal. Try it next time and let us know how it went.

I'm finding that alot of situations won't allow you to lock-up the property to pass the property on/assign it to an end buyer(banks, REO's, some sellers, etc). What strategies, documents, contracts, etc. could i do or use to protect my interest in this transaction to still pass on the information to an End Buyer so they can make a decision on if they want the property, yet, not be pushed out of the deal myself? I'm just getting started and don't have the funds or means to acquire the property myself first. How could i still make this deal/transaction happen to pass it on to that End Buyer? And what about showing "Proof Of Funds" in this situation? I hope i worded that right for you to understand what i'm trying to ask? Thanks for any help anyone can give!

I have 4 offers ready to go and I'm getting cold feet. We don't have any buyers but, we need to get going and just jump in. So, I am questioning what to use as a percentage for the investor to make. Does this sound ok?

$175,000.00 ARV
-$35,000.00 Investor fee (20%)
-$50,000.00 Rehab
-5,000.00 Assignment Consideration
$85,000.00 Offer

The house is on the market for $149,900. I almost feel like that is not enough to entice a cash buyer (????).

Of course we will put in our subject to's so we can get out of the contract. What do you think not a good enough deal for someone?

Thanks.

The realtor emailed me back and said if it was up to him,he would gladly take my offer of 138K.But,the bank already had a higher price fall out of escrow near $205K.I emailed him back to still put a bug in the bank's ear at the lower offer.We'll keep you posted on any movement.
I posted last week "Accurate Comps",but no one replied yet.Anyway,the comps in the area suggest an uneven market.The faster selling props are at $170K,but one did sell for $240K.There isn't enough photo's on the other props,but they seem not as sharp.I guess I might have to get a realtor to help me out on these comps?
It's a good feeling to at least have gotten up the courage to start!It's a little scary when you're unemployed and a little intimidated,not knowing as much as the realtors,etc.

I hope I'm not being too pushy, but I really need to know today if I used the right contract for a simple purchase agreement. As my previous post stated under "Let me Try this again", I let the seller sign on the wrong line which can be remedied, but after looking at other contracts under Forms and Docs, I'm not sure I used the right one. I have to go back today and get the correct one signed and take EMD to make it binding. There is a Purchase Agreement and a Purchase and Sale Agreement.. Are these the same? Also I am going to assign this property. When do I use the assignment contract... when I get the end buyer? Does the original contract become part of the assignment contract? Is there anything else I need to know about filling out the contract?

Hi everyone. I'm about to engage in a lease option deal. My problem is the seller is upside down in the mortgage. My intent was to write the lease option so that when it expires, whether it's 3, 4, or 5 years, I was going to put the price of the home to be the fair market value at the time the option was exercised. My question is; how do I cover myself, and my assignee, if the FMV has not risen above the mortgage balance at the time the option is up and the lessee wants to exercise the option?

Thank you in advance to anyone who replies.

Yesterday, I locked up a property for $14000.. 2 BR, 1 BA Mill house. It is in need of repairs and remodeling. Owners are still in it and have lived there for 16 years and are currently wanting to move out of state by the end of this month. I set closing date June 15 so the clock is ticking.

1)
I mistakenly let the seller sign on the puchaser line.. first mistake. Do I need to get a new contract signed or can I white out her name and put mine and initial it? (I did not have another contract with me)

2)
Being this is my first contract that "I" filled out, I'm not sure I filled it out correctly... meaning not sure if I got all information correct.

I've been negotiating to Lease Purchase on a commercial property. I am to meet with the owner tomorrow in order to try and finalize the agreement. His initial offer was: $2500 down\dep., $775 per month for 1yr. No consideration towards the $125K purhcase price from the monthly rent.

Through some negotiations we are now at $1000 down\dep., $775 per month with $150 going towards the purchase price for 36 months.

I've been negotiating to Lease Purchase on a commercial property. I am to meet with the owner tomorrow in order to try and finalize the agreement. His initial offer was: $2500 down\dep., $775 per month for 1yr. No consideration towards the $125K purhcase price from the monthly rent.

Through some negotiations we are now at $1000 down\dep., $775 per month with $150 going towards the purchase price for 36 months.