Contracts and Offers

Goodmorning everyone,

I am working with a potential seller and he asked me about the primary residence clause in his contract. I have seen many posts re: due on sale clause but not much on the primary residence clause, which many mortgages have. Can anyone advise me on how you are addressing this issue? Im located in AL.

Thanks all for your support.

When I talk to FSBO and they agree to an assignment, but they still want to keep their own ads up on the property, which I understand, but do they have to remove them. One guy was upset because of his need to find a buyer asap. If they find a buyer, would they have to still tell the buyer to call me, or is it okay to let them continue with their own ads they already have out.
This made a difference to him whether or not to let me try to do something with his home.
I am meeting with another couple today, and they have a lot of sites they advertised on, and I know they would not like removing all of them.
Sandi

Hi everyone,

I was wondering if its a good idea if I find property that would interest investors, but is being sold by an agent.

Should I try wholesaling the property? or should I stay away?

Please let me know because I found a few good properties.

All comments are appreciated.

Thank you and God Bless,

Eduardo

Does anyone have a sample contract that you use for a private money lender? I have someone giving me the earnest money on an REO (YEAH! MY FIRST DEAL) and I need to give them a contract. I created a quick Promissory Note, but I want to have something to compare it to that someone has already used successfully. Thanks!

How do you use LLC when assinging contract that is REO?

Article Source
http://reiclub.com/articles/negotiating-sales-contract-rehab

It’s not easy to get a home sold today. It’s natural to become anxious when someone expresses an interest in your home. But this is not the time to negotiate. Allow me to explain:

For example, let’s say your home has been listed for a while, and an agent gives you a call to let you know that they have a party who is interested in your home. You begin to ask questions like “how much are they considering offering?” or “How soon do they want to settle?” or “I hope they aren’t asking for too many contributions, because I’m not moving much.”

hi i was wondering if you can put a contract down on a bank owned or government owned property to assign to another investor? thanks for any help and replies

Does anyone on here, have the "sub to" contract that people are using to do the new "Mortgage Assignment" (PAYMENT ASSIGNMENT) strategy? Basically you are buying the property sub to and then instead of holding it you sell the payment assignment contract to someone (wholesale or end buyer) for $8-$12k and you walk away leaving the seller with the buyer and the buyer is then liable and owner financed by the seller with the existing mortgage.

I was informed that all payments are assignable by law even if the (mortgage) note itself is not assignable. So using this info you can "assume" or "assign" a mortgage to someone if you want to but you have to do it by assigning the payments...not the actual loan (note).

Does anyone on here, have the "sub to" contract that people are using to do the new "Mortgage Assignment" (PAYMENT ASSIGNMENT) strategy? Basically you are buying the property sub to and then instead of holding it you sell the payment assignment contract to someone (wholesale or end buyer) for $8-$12k and you walk away leaving the seller with the buyer and the buyer is then liable and owner financed by the seller with the existing mortgage.

I was informed that all payments are assignable by law even if the (mortgage) note itself is not assignable. So using this info you can "assume" or "assign" a mortgage to someone if you want to but you have to do it by assigning the payments...not the actual loan (note).

Hello DG members! I'm a newbie and in the process of starting my first deals. I'm focusing on Lease Option and sandwich leases. I had an appointment with my lawyer and he is reviewing my templates. I've not heard back from him yet, but was reviewing some of the state laws regarding Lease contracts. Below is an excerpt: