Hey all,
I’m a newbie in Connecticut. So far I’ve purchased and studied Carlton Sheets No Money Down program, read a couple investment books and read numerous articles from this site and www.dealmakers.com (which is an excellent site). However, I’m struggling to find any seminars or other “training” presentations in Connecticut. Can anyone lead me in the right direction?
Thanks
A great source of education will be your local Real Estate Investing club
Thanks John,
I’ll look into that. Another quick question for you…When doing a contract for the purchase of a residential property with a bank can you use the term “or assignee” after the buyers name or do banks frown upon that and will only lend money to the buyer?
Regards
Art
Hi Art,
Yes most lenders do frown on “And or Assigns”.
You will find that the majority of government owned properties will not even allow this.
I never use this term after the buyers name, I use this term in the text of the contract.
All my offers are submitted with this term and if not accepted I will submit another contract with out the term because I still have the right to sell my interest in the contract and or do an open title close, double close or simultaneous close.
Art, I do not understand " or do banks frown upon that and will only lend money to the buyer? "
Thanks John,
My mistake with the statement, being a newbie I’m still trying to get the lingo down:-) What I meant by bank was “lender” and with buyer I meant the “buyer signing the contract with the seller”, as opposed to an assignee. You answered my question in your first response…I appreciate that much as well as your suggestion to put “and or assigns” in the contract and not next to the buyers name at the bottom.
Regards,
Art