Contract info.

When i have a consented agreement with the seller and buyer, and we both sign the contracts, do i make copies of the contracts so we both have them??? Or do i just keep the original.

Thanks in Advance


You definitely want a copy and the seller should have one too!

Would you suggest carbon copy type contracts, or just two seperate copies??

Is carbon paper still made !!! Copies would infer seperate. You could hand write two contracts at the table an have buyer/ seller sign both at that time if a copy machine is not available. Your Title co/ Lawyer will also need a copy to open escrow. They WILL have a copy machine… Carbon or hand written will be fine.

If i am wholesaling i would not need to go to the title company right? I sell contract to the buyer who then closes on the deal with title company.

True,No escrow needed.
Although as a benefit to my/your buyer I open escrow and have the title report done .
It shows my buyer that the property is ready to go and buyer has no hesitations concerning clear title. nI try to eliminate all issues a buyer may have …before he has them concerning the property he is about to buy. The one I just wholesaled had a county code violation on title so I researched, found solution and cost and passed it on to buyer. Another had junk and abandoned cars, I found who would haul them and how much…passed it on to buyer.

 Title report plus solutions equal quick sale !!

Thanks very much for the info!
If i were to initiate the escrow thing as well…how would one do that??
I believe inn the same system… Help enough people get what they want , and they will help you attain what you want.

Abel :smile

Hello Abel,
Open escrow by…wait! you haven’t gone to at least two or three Title/escrow companies to see how and interview some officers ??
Open escrow by taking your contract in hand and delivering it to your favorite title lady. Tell her you want to “open Escrow” and have a title search done and briefly explain the contract if needed. All done, now go sell property/contract quickly as your buyer is bringin’ the money.
Here’s to that escrow thing, :beer Darin

What questions do you ask when you interview an escrow officer?

What to ask: do you do double closings and assignments. If they say yes, great. Run with them. If not, keep moving. I would go to my local real estate club to find out who other investors are using. That would save me a lot of time over calling through the phone book. You will be surprised by how many title companies don’t do dc’s.