offer to purchase form

General Real Estate Investing
1

My first two properties were bought through a realtor, who is a friend and doesn’t really agree w/ me on purchase offers. He has many times advised me against the starting offers I feel are appropriate (as an investor), and doesn’t like to throw out a bunch of offers b/c every offer is a 10-12 page form and a lot of work- he feels most “serious” offers should end in purchase. I am about to make an offer (no realtor this time) to a realtor on a property out of state, and need a simple offer to purchase form where I can fill in a simple “contingent upon inspection of contractor” statement and offer price. How can I find a form like this? Thanks a lot!

2

Did you look at Tim Randle’s “Hold Property Agreement” in the “Free Real Estate Forms” section? It seems to fit with what I think that you’re trying to do…

http://www.reiclub.com/forms/holdproperty.pdf

You can also do this with a “Letter of Intent” but if you’re in a ‘hot’ market, I wouldn’t…

Hope this helps…

Keith

3

Keith,

Thanks for the reply, I appreciate the help. I don’t think that is what I’m looking for though. I want to actually make an offer for them to accept or decline.
If anyone has one available, I am looking for a more standard “offer to purchase form”.

Thanks!

4

If you’re wanting a “standard” contract, just use the one your realtor uses. It’s legal and valid, and provides everything that you need.

You could also get a standard contract from your attorney. If you’re on good terms, they should charge you little to none just to print you off a copy.

Raj

5

Raj,

Thanks for the advice, and that is a possibility, but I am hoping there is something more simple and to the point than the 10+ page contract my realtor uses. I can pick up a purchase agreement/contract at an office supply store, which is essentially what my realtor would send through every time, but I would rather have a cut down 1 page “offer form” for ease of use. If the offer is accepted or countered close, I can then move on to the full purchase contract.
Maybe I’m looking for something that is not acceptable, but it would seem to make sense to me. When I have spoken to my realtor about this in the past, he’s given me the “oh no, it just doesn’t work that way” schpiel. I know this would be abnormal for a realtor, but I don’t see any reason as a non-realtor I shouldn’t simplify the process.
If I’m way off here, let me know.

6

Maybe a FSBO site would have what you are looking for. You might want to try forsalebyowner.com

7

Buckeyes,

You can make a purchase and sale agreement on a napkin if you want (I know, I’ve done it). As long as both parties agree to it and sign it (along with the “good and valuable consideration” fee), it is a valid, legal contract.

However, it’s not going to protect either the buyer or seller as well as the 10 page contract that you mentioned.

Sounds like what you’re really after is a “hook” form. That is, you want to make an offer and see if the seller will bite. If that is all you’re wanting, then just present your offer either verbally, or email, fax, or snail mail them a letter stating something to the effect of you’re interested in purchasing the property located at 123 street, thistown, usa. You are willing to purchase this property for $X amount, can close in X number of days/weeks/months, and you will be closing with all cash/financing/etc. Upon verbal acceptance of this offer, you will submit a formal written purchase and sell agreement.

Agents do this all the time. I’m surprised that yours wouldn’t mention it. If you want a more detailed layout of this type of letter I believe, if I remember correctly, that Bill Bronchick has one in his “Flipping Properties” book, which you should be able to find in your library.

Hope it helps,

Raj

8

the carlton sheets site has some forms

9

much thanks. that’s what i was looking for.