Contracts and Offers

When you do a lease option," you being the buyer "
How can you be sure that the seller is making payments to the mortgage company until you purchase the home ? Im thinking they will have other bills to catch up on as well, and not the best when it comes to financial decisions.

Hello I need help in determining if I should check out this home.

$150k 3 beds, 2 baths, 1500 sq ft
Built in the 70's
Single Family House

It has been on the market for over 70 days.

It needs replacement windows, some have broken window panes.
New carpet
New appliances needs new cabinets
Needs siding has a painted exterior that is an annoying yellow color.
Drive is overgrown with grass and has not been sealed lately.

I have not been in to see it to know what else is wrong with it inside.

It has one owner and no mortgage on the property since purchase by the original owner.

Most properties are going for $128k to $135k in the same subdivision.

It also has a big 1980's TV satilite dish in the back yard which I think is also making it hard to sell.

I'm new and finished reading DG book and I have many questions and I'm trying to get started without investing my money currently. I advertised looking to search for properties for investors. I had someone email me that is interested. What type of questions should I be asking and what contracts should I use to insure that I get paid. What rate should I charge?

Just a side note if your looking for a bird watcher let me know. I would be interested in working with you.

Thank you in advance

Heather

I use 3 main contingencies and one is "PURCHASE CONTINGENT UPON ABILITY TO RE-ASSIGN". I have a seller who is not "comfortable" with this wording and my realtor is suggesting that I change the wording to "buyer can reassign" so that the deal can go through saying that it is the same thing. I'm thinking that changing the wording is taking away my protection. Anyone have any suggestions?

When you make your offer to your seller, you usually do not know if your buyer will pay cash or need financing. Which contract do you try first IEE or the assignment ? And how do you switch from one to another ?

Carol Stinson mentioned in one of the videos something about contingencies on the assignment contract. Something like this assignment is contingent upon partner's approval or something similar. Can anyone advise onto exactly you're supposed to put on these contracts? I'm using the ones that are on this site. Let me know. Does this also need to be added to the Purchase and Sales Contract? Thanks.

What's the safest and most profitable way to sell a house without actually buying it?
For example, if i know a house for sale and i know potential buyer for it, how can i sell that house to the buyer without actually buying it myself?

And what are the details of selling a contract if i enter one?

thank you all very much in advance!!!!!
Mordy

Hey I'm learning a great deal! Thanks for all you help in advance! This might sound dumb but I have found a super deal and I actually have an investor interested. How do you keep from getting screwed.. excuse the speech.. is there a standard contract? and i don't necessarily want to bird dog i would like to split profits is this possible..thank you

So I want to make a few offers this coming week (my first offers following Dean's program), but I have two questions about what I actually have to do/say when I tell my realtor to make the the offer if I want to use these properties for assignment of contracts. Do I need to tell him to include clauses such as, but of course not limited to:

1. And/or assignee
2. a backout clause
4. Ability to do repairs before closing

Before he makes the offer.

Or can these details be arranged after the offer has been accepted? Also do I need to include an earnest money deposit with each offer, or is that also a detail to be handled after the accepted offer.

Thank you ahead of time for your help and responses.

Vince

Hello DG family. I have a property currently under contract located in Kansas City, MO. If you have buyers who invest in that area check it out. You get me a buyer to close in 7 days or less I will give you 2k of the profit. PM for more details.