Where can you find purchess aggrements besides on the internet? can you pick them from a realtor office? Also when you sign a contract with the seller how do you give a copy to the seller. Can you make a copy of the contract and have them sign both and use 1 as there copy?
Thanks
Where can you find purchess aggrements besides on the internet?
I got mine on the internet but I think I have seen them in Staples.
can you pick them from a realtor office?
NO! You want a purchase agreement that is written for the buyer (you). And realtor contracts have a boatload of garbage in there that is associated with them as being a middle man, etc.
And if you are wholesaling you need one that is assignable and has the proper weasel clauses in it so you can back out if you don’t find a buyer.
Also when you sign a contract with the seller how do you give a copy to the seller. Can you make a copy of the contract and have them sign both and use 1 as there copy?
That’s what I do.
Join your local real estate investment club and ask the active investors where they get their contracts.
I started off by rewriting the standard Realtor contract with a word processor and then adding/subtracting items as needed to benefit ME and to reflect specific properties.
I now have 2 basic contracts, one for buying, and one for selling; both modified to reflect what I want and need. Crossing out paragraphs/sentences from a standard contract raise a red flag for many buyers/sellers that make them look closer at that area. For example, I try to transfer as many of the closing costs as legal to the other party in the contract. If that were crossed out and penciled in it could cause the other party to question who “traditionally” pays that expense. Also, most standard Realtor contracts specify the contract is “not assignable”…easy to change with a word processor
I simply add/delete with the word processor and print out a perfectly professional looking copy.
jmd_forest
I went to Fed Ex with my contracts and they " NCR" copies for me…you know…the white canary and pink copies…you can have maybe 15 copied this way for maybe 6 bucks…
Forgot…The place I found my contracts…Purchase Agreement and Assignment Agreement was online at reitips.com
Thanks for clearing that up for me guys.
I get my PSA’s from local real estate commissions. It’s nice legal and state binding. I do this with each state I invest in.