Contract Process for off market property

[Peter Chaniotakis]

Hi everyone,

Hope everyone is doing well. I live in Los Angeles, CA and I feel very close to ready to flip my first house. I feel pretty well-rounded knowledge wise; however, what I am finding hard to get information on is the the process of actually getting a contract for an offer and then after an accepted offer, how the title of the property works for off market properties. I have an idea but would love if someone had a great resource to help me in this step for when I am ready to start making offers. Thanks so much!

Best,

Peter Chaniotakis 

[Brad S.]

@Peter Chaniotakis

If you are asking for which/where to get the forms to use, here is a good resource. I had to pay for the CD many years ago, but now they offer them free for download from their website. They are CA based RE License educators and have 400 forms for you to download and other info to help you.  **I am not affiliated with them in any way and use them at your own risk**

firsttuesday.us

Go to the Forms tab on the top right of their homepage and then go to RPI Forms, from the dropdown menu, and then you can have hours of fun with forms!!  Whoo-hoo!  

Then, it sounds like you may need a title rep. I have a referral for someone if you want, or you can ask a friend, associate, etc. You probably should also have an escrow person/people on tap also. Those are your core transaction professionals.

Process:
1) You find a deal and negotiate the terms, etc, with the Seller. Fill out the contract (write in the title company and rep you want to use) and both Buyer/Seller sign the contract (firsttuesday contracts can work)

2) You contact your Escrow Officer and tell them you have a deal and want to open escrow, and you get them a copy of the signed contract, deposit check and give them the appropriate contact info, etc, and WALA! you're off to making millions of dollars!!!!