Contracts and Offers

I was told that in Michigan that, being LLCs are only 50 dollars that instead of doing an assignment contract you can turn around and sell the LLC for what you want out of the property you found for one of your buyers. Then he/she goes in and buys the property and you walk away with money in hand from selling the LLC.
Does anyone know if this is possible or true.

Thanks Dan

Who is responsible for escrow and nhd fees? The realtor, the seller of the buyer?

P.S I am wholesaling in California

I'm all in for getting my first wholesale deal and just started putting in my first offer. However, the real estate agent wants $1,000 for earnest money.

How do I get around this? I don't want to spend $1,000 in earnest money just to lose it in assignment. In addition to that I don't have the $1000 to spend on earnest money. I'm planning on putting in 20 offers per month at a $1,000 a piece it doesn't seem reasonable. Help!

I have a buyer and a real estate agent with a listing. The listing hasn't hit the market yet, and the buyers are serious. With out getting the house under contract. How do I get a referral fee from the agent if he closes.

And how much can I ask for?

I'm just trying not to put them in contact with each other before I secure a piece of the pie. Especially if he gets both sides of the commission.

Please help guys

Does anyone on here have any advice on dealing with an out of country buyer? We bought a foreclosure property and listed it as FSBO. Got an offer within 7 days that was great giving us $19k profit. Excellent! The buyer has said he needs to find a representative because he is out of the country. As long as they have the funds I am perfectly content making the deal. The title is free and clear and we can transfer it once we receive payments.

Is there any issues with completing the sale that we should be aware of?

Appreciate any advice.

Hello everyone. I just found a couple of Investor-friendly Realtors, and they are starting to send me listings now. At this time, I may have a total of approximately 60-70 listings. I have tried a few different websites to find comps on these properties, but I am unable to get them. This means that I don't have an ARV. Further, the listings don't tell me any Rehab details. The bottom line is that I don't have a clue as to how much I can put an offer for on these properties, and it doesn't seem reasonable for me to ask the Realtors to get me all these details for all of these properties.

Can someone please suggest how I should proceed from here? I don't think it matters, but my intention is to do an assignment of contract.

DON'T SIGN ANYTHING that You don't fully understand or agree with. Have attorney review if necessary.

I had a Judge tell me in court one day "Ignorance is NO excuse for the law" after I said "but your Honor I didn't know"

Costly mistake that NEVER happened again!!

A Verbal contract is not worth the paper it's written on.

Best

Hi everybody,

I have a question about contracts that you sign with FSBO deals. In our state (Oregon), the only people who have access to the realtor's version of the Purchase Agreement are realtors. I have spoken with attorneys who (of course) state that the transaction should be performed by an attorney. I know a number of your carry contracts in your cars at all times in case you come across a deal you want to offer on. I guess my question is two-part:

1) Anybody doing deals in Oregon can shed some light on what kind of a contract would suffice?

2) For anybody else, can you respond with how you handle this type of transaction?

Thank you so much!

Andrea Johnson

I went to list one of my homes two weeks ago, and learned that while listing with some companies that they take 3.5% realtor fees while the other brokers they work with would get only 2.5 commission. Always ask the fees and the breakdown as they will agree to split the fees evenly 3% on each side in order that the other brokers will try just as hard to sell your home. I mean they would rather sell homes they have at 3% interest vs. only selling homes they have at 2.5% interest. As we always say things are always negotiable!

Hi,
Does anyone have a Finders Fee Agreement that I can use?

Thanks!