Contracts and Offers

What do you other investors do when you find an investor who is (wholesaling/assigning) selling a house and he wants to use HIS contracts....I am an investor who is wanting to buy his contracted house for (wholesaling/assigning) selling to someone...I have MY contract I want to use and he has his contract he wants to use.

Also he has his title company who he prefers to use and I have my title company who I prefer to use?

So i know its in here some where but i couln't find it!! What is the difference between a land contract and a lease option? I always get confused on these 2 and i need to know for sure what the difference is!!

Thanks,
Shaun

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I searched contracts for Deed and Wrap Around contracts and SEARCH could find nothing.
I have a rental property in an older neighborhood. I put the house on the market for $74,000 my only offer was $65000. My mortgage is more than that. I have a prospect who wants to buy the house but cannot get a loan.
I want to compare contract-for-deed vs rent. They cannot come up with any option money.
Where can I find a contract for deed?

I have had some questions as to what "Seasoning" is and will it affect them in a deal. So, here it is, in a "Nut Shell"

"SEASONING": Refers to the Length of time that the Seller has owned the property. Homeowners(home buyers) CANNOT obtain a "Conforming Mortgage" if they are putting less than 20% down and the Seller hasen't owned the property for @ least 90 days.

I believe that Letters of Intent are a complete waste of time because they are NOT a binding contract. I believe that they are used because the potential buyer is afraid to outright present the seller with a contract. It's like a pre-test to see if they is any wiggle room in the price. Why use them? I prefer to use a real estate pruchase contract to smoke out a serious buyer.

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In another post I read that it was illegal in the state of Ct. for investors or realtors to pay a 'finders fee'. Is this the same as an assigning a contract fee? I would greatly appreciate any input on this!

Sincerely,

Kenny W. DeStefano

Where do I put the LLC on the contract and more important, when the contract requires a signiture, do I have to use my name or just the LLC name or sign my name below the LLC? Help.

Hello Everyone.

I'm Geri from New Jersey. New to this business, however, I can't wait to complete my first deal.

I have been on the site several times...reading, learning, while at the same time reading the book. This is one of the best sites I have ever been on or a part of. I love it!!

There is so much to take in and learn....your head is spinning when you finally take a break. Also, I would like to thank Sully, Elena, Anita, and Shiela for answering my PM questions. You guys are great, in fact everyone is.

Here is my question: