Contracts and Offers

Good afternoon! I have been talking to and identified a 3 bed/1bath house with attached garage that a national bulk buyer of foreclosed properties has in my area. They tell me they will not take anything but cash and will not consider any time frame for any contingencies which prevents me from "buying some time" to get a potential buyer to write an offer. Only asking 13 thousand. How do I show the property that has their signs all over the place without the potential buyer going direct to the national company? Thanks, Brad

My first few deals, unlike most people, were done via a lot of help via the internet!

Through using networking sites like this one and **** , I was able to locate people who are looking to actually buy property. Before Id buy, id go onto these sites, look at exactly what they want to buy- and boom! Just flip it over. I have done retail deals in the tri state area and am now working on my 3rd deal!

My first few deals, unlike most people, were done via a lot of help via the internet!

Through using networking sites like this one and **** , I was able to locate people who are looking to actually buy property. Before Id buy, id go onto these sites, look at exactly what they want to buy- and boom! Just flip it over. I have done retail deals in the tri state area and am now working on my 3rd deal!

I have a seller that called me through craigslist that wants to sell his mobile home for 5,000.00 I havent looked at the property as of yet but I also have a buyer
who is interested.

The problem is I told the buyer that he is selling it for 5,000.00. so my question is how do I make my bird dog off this transaction and what do I need to included in my Option to purchase agreement form?

I don't want to close on this property and not make any money whatsoever. If you know what I mean and I also do't want to place the wrong contract on this type of home.

And also can someone fill out this assignment of contract for me so that I can get a general idea as to what to fill out inside the contract?

I can't find any contract or agreement forms for doing a property joint venture. I have some one that instead of loaning us 50,000 would like to be an equity partner.
Anyone know what paper work I need and where to find it?

Here's the deal. I have a friend that owns a condo in Florida but he lives in NY. I am not a Real Estate Agent or a Realtor. He asked if I could try and sell his condo and he would give me the 6% commission he would usually give to an agent. My question is..He is not looking to just let the property go for anything, he wants close to FMV for it. Would i be better off having him sign an Option to purchase contract or a Purchase agreement contract? If i understand correctly both of them are assignable. I was under the impression the option contract would be better in this case since he is looking for close to FMV so if i can't sell it the option contract would be easier to wiggle out of, correct?

I am interested in doing assignments of contract and have listened several times to the PMI training on assignments. Being in Wis I know we have stricter rules. But I don't really understand what the For Another clause is. At first I thought it meant I could not do this is I wasn't an agent, but now I am not sure. Is this a clause that would be in some contracts from an agent? I am totally not getting this part of what this actually means.
Can anyone help?
Sandiboots

Im eager to start but I need help on some details.

For instance.

When trying to lock up the property and im dealing with the sellers realtor what forms do I use?

An offer letter, if so where do I find a suitable one?
A purchase agreement?

Is there a difference between an offer letter and puchase agreement?

Do I call them and fax it over, or will they have a contract drawn up already?

If they have a contract how will I incorporate my assignment contract?

Im reading the books but the detais on how eaxactly to do this part is not included.

If its a FSBO I think all I need are the contracts provided by Dean on this website, but all the deals ive seen so far hve been listings by realtors.

I just want to do it right and not loose deals due to my inexperience.

I'm looking to assign a property today, My question is to get my fee for it..should I make a deal with the Investor(seller) that if I find him a buyer at his price then he agrees to pay me a certain amount or B should I accept the investor(seller) offer and then offer it to the end buyer at a higher price..How do I do this now??

Everyday for the past 2 months in the interest of finding motivated sellers and wholesaling/assigning I send 5 discount offers to my realtor against the aged listings. I fill out the offer form, scan it, and email it to him. He then sends it along to the listing agent.

Here's the issue: I fill out the contract to purchase stating a $100 deposit to bind the Offer and then $400 as additional deposit paid upon execution of the P&S. Occasionally, my realtor receives a response from the listing agent looking for a copy of the deposit check and sometimes even more $ before they'll present it to the Seller. Is this appropriate? Does the listing agent have this right? Will the check be deposited?

Thanks

David Visco
Davara Real Estation Solutions