I have not done my first deal yet. I am posting here in hopes of having a few questions answered so I can make that first deal happen.
I have a cash buyer (actually a group of investors) who have set the goal of buying 15 properties by the end of the year. They are ready to buy right now with cash. I will be assigning contracts to them.
I have everything set up to find my sellers (recorded 24hr line, flyers, business cards, etc.)
My question is about contracts. I have a lot of them from this site and want to make sure I have everything that I need and that it's all correct before I take the contracts into my first meeting with the aforementioned investors. In order to assign a contract to a cash buyer, what documents do I need?
1. Offer to Purchase (to be given to seller)
2. Agreement to Purchase between me and the seller with wording that includes "and/or assignee".
3. Assignment of Contract to sign with the investors
4. Discharge of Agreement to Purchase
5. Investor's Disclosure and Seller's Acknowledgement
Am I missing any? Are there any there that I don't need?
REALTOR
Real Estate One
Grand Rapids, MI
You don't need 1,4 and 5
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Yes from my research only document you'll need is 2&3 as michael stated above. now if you were doing IEE then you would need 2&4&5 (note number 2 you would not include and or assign)hope that helps, you got everything right there go for it.
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Thank you both so much for the help!
REALTOR
Real Estate One
Grand Rapids, MI
the important thing to remember too, is they want your business.
Good post Matt. I actually had that question in mind since I my self am in the process of doing my 1st deal
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
Assignment Contract.
THATS IT!
GET IT DONE!
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So all we need is the assignment of contract?
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
And a purchase agreement (which reminds me ), which is the contract that you are assigning.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Thats it
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
Visit my website:http://qchomebuyers.weebly.com/
Visit My Facebook Page: http://www.facebook.com/#!/qchomebuyer
Visit My Linkedin Page: http://www.linkedin.com/pub/the-1-fast-ca-h-home-buyer-in-the-qc/28/b79/...
"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~