OfflineI finally have 2 multi unit properties that I'm scheduled to look at Saturday. Putting ads on Craigslist paid off. I'm going to fake it till I make it on this one.
I need advice on how to go about this. What should I do first? I'm looking to assign this.
I know that the asking price on the properties are going to be at 65% FMV, that's what I told him I what I would buy them at. I did the comps.
I want to lock it up with a minimum deposit and have all the excape clauses in it. I'm not sure on how to fill out the P&S agreement. I do know to sign it "Name and/or assigns".
Do I open up an escrow account with the deposit and when do I do that? Do I let them know that I'm reassigning the properties and will they assist me in completing the P&S agreement and all other necessary documents correctly?
I did read about locking deals up/reassigns by dgadmin but I'm a little nervous about putting it under contract because I never did it before.If someone could guide me on what to do, I would appreciate it.
I'm getting closer to the prize!
I still have so many questions.
Bob
First, let me welcome you to the DG family, we're glad you joined us... Filling the purchase agreement is easy, it's not difficult. You got your signature and/or assigns right, then you put your earnest money deposit amount, the price you negotiated, your escape clauses and any additional terms such as "as is" condition. Then when the seller signs it and faxes, emails or sends it back to you, take it to the title company and open escrow. It's pretty simple.
So just keep your eye on that prize and go get it now!
God bless,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
When editing your purchase agreement with your escape clauses, do you personaly edit them yourself? Or do you have an Agent or attorney do that for you?
Thanks
Cory
i got a question i thought u had to have both seller and buyer sign a NDA then bring the paper work to your real estate lawyer and have them finsh the process with the proper numbers im working on a deal i found the prop is worth 660k and the owners only want 440k i wanna make the most i can off this deal so can i get some clues and hints on what to do thanks dg fam
Are you using a lawyer or title company?
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
I WANNA USE THE LAWYER CUZ IT CAN SAVE ME IF THERES A PROB WHAT DO YOU THINK LET ME KNOW
When filling out contracts and all that stuff. Do take original copy and leave a copy for the seller? Or does the seller get a copy? Some body enlighten me, so I dont go messing things up, and get the pants sued off of me. Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)