Contracts and Offers

When signing a contract with a "Subject to" clause where the investor would essentially hold title to the property, but the mortgage would stay in the original owner's name, how is the original owner protected from me or anyone else if the payments go into default? Remember, the deed would now be recorded in my name.

1) Make offer in the name of an LLC. Include the properties ADDRESS in the name of the LLC(525 walnut, LLC)

2) Once offer is Accepted, create the LLC. Check with an Attorney and/or department of state reguarding the process/procedures & costs for forming an LLC(it's easy)

3) Assign/Sell your ownership in the LLC to a buyer, once you recieve your Assignment Fee. Check with an Attorney reguarding the Documents required to Assign/Sell an LLC.

4) Collect your Assignment Fee in the form of CASH or a CHECK made out to the LLC & get it endorsed over to your buyer(the new owner of the LLC)

Hi everybody!

I'm new (to this site as well as a REI), and I would like to know from you experienced folks here on this site: Does anybody implement DG's "IEE strategy"?

And if so, could you tell me where to find and download the "Invoice" he is talking about?

I would greatly appreciate any help with this!

Conny, FL

PS: ....I'm open to network with anybody who is interested. To our success!

Now i know that some(if not all) of these Contingencies have been covered in previous posts(forums), However I think people need to realize that the wording in some of these "FREE" downloadable contracts do NOT protect you to the extent that you would think:

Hey everyone. I am pretty new to the site but really enjoy and appreciate the forums. My question is in regard to Lease Option Offers. I am looking to do a sandwich lease option and have started looking for condos in my area (NJ) with a real estate agent (also an investor). I am going to start putting in offers but wanted to know how to do so. Do you just put in the basic parts of the agreement in the offer such as Option fee, Monthly payment, Purchase price, and length of option and then if the person agrees work out the details with an official lease and purchase agreement?

dose anyone know how i can get my hands on the contracts that is needed to do assiging im working off a lab top witch dose not have a printer

Quick Question. There is a mall going up in my area and they have about 1/2 acre of land that is for sale RIGHT next to it. It is alreay escavated and all for building on so it can be part of the mall. How hard would it be to lock that up into contract being a commercial property and all? Just curious.

CONTRACT CHECK LIST

PARTIES: This is the seller and the buyer. Put and/or assigns behind buyer's name when working with private sellers. You can’t use with institutions like a bank or HUD.

DISCRIPTION: All contracts ask for the legal description as well as the street address. In most cases you don't know the legal description, so just use the street address.

Is any out there doing deals in Texas? I had a real estate agent tell me that TREC (Texas Real Estate Commission) forms/contracts can only be utilized by licensed realtors. Anyone have any info. on this?

If I have locked up a contract and assign it to someone else. How do I go about making sure I get paid?

For example: say I have someone that want to sell their house and they want 80000 for the house but I talk them into selling it to me for 60000. They sign the Agreement, and I find someone to buy the home from me for 80000.

Once I am at the step of them buying the home from me I do not know what to do. How do I make sure I get paid? what are my next steps?