Buyer Friendly Real Estate Purchase Agreement

December 4, 2020 at 7:28 pm

A few questions to a real estate professional and/or a real estate lawyer before the sales contract is concluded: depending on the situation, there may be other things you want to work with your seller – some of these things should be included in your contract… For example, if the property is empty, I always ask the seller to provide a key or combination to the locker, with permission to enter the premises for the estimation of repairs and the completion of inspections. You can use the SPECIAL PROVISIONS section of the contract to add something unusual. If the seller has special wishes, this is the place to introduce him into the contract. If you don`t have any special provisions, write N/A in this area. You and the seller should put your initials next to special rules. The trick is… DO NOTHING to leave to chance and never move on in the deal. If the seller wants to take the plants from the property, write it down. If ceiling fans should stay in the unit after closing, write it down.

It is really not a missile science. It is common sense and there is no need to scatter. It is simply to make sure that all the important points are agreed and will be included in the contract! Always REMEMBER: Whatever your agreement, put it in the contract. All right. They`re almost there… In the next blog post, we start the fun part: How to find homes to return and how to determine if a seller is motivated enough to sell at a price that makes you a LOT OF CASH! Click here to subscribe to our mailing list and deliver unique and fresh content like this directly to your inbox. Why this is important: In an aggressive sales market, many homes receive multiple offers. One way to bring out your offer is to offer a slightly higher EMD (think 4% to 5%) to get the seller`s attention, says Washington, D.C., Metro real estate agent Robyn Porter. “Many buyers want to make the smallest deposit to limit their risk of loss,” says Bruce Ailion of Re/Max Town and Country in Atlanta. Seriously, these are the same two simple real estate purchase contracts that I used in my real estate investment game for 90% of my business over 18 years. Take advantage of our real estate purchase agreement to outline an offer to buy real estate and the terms of sale. But if you make a formal offer to buy the house you want to buy, you will end up reading and filling out a lot of paperwork that contains the terms of your offer.

Apart from obvious items like the address and purchase price of the property, here are some nuanced items that you should be sure to include in your real estate purchase contract. In legalese, these are called contingencies written in your real estate contract. In case of delay, the seller`s only remedy is the retention of the buyer`s serious money. JP Moses: What`s going on? Welcome, and I`m glad you`re here. I`m not going to go through one, but two of my sales contracts that I`ve been using in my real estate for about 18 years. These are two agreements – Pro-Buyer and Pro-Seller – that I have carefully developed and used in hundreds of wholesale businesses on the side of wholesale buyers and sellers.