How to send offers?

Question

Hey all, I recently started with some direct mail for unimproved raw land. I have some customers who want me to look at their property. I am not totally confident in all of my due diligence as I am new to this, but I am at a point where I need to act and send out some offers to people to see what takes. I talked to a lawyer today for the first time and the rates for them to draft me a purchasing agreement was too much. I am not entirely clear on how to make an offer and actually go to closing on a deal.

My plan as of now is to pull a general purchase agreement from the internet and modify it for my type of transactions. Then send these out to my customers with offers and for those who agree, I guess I just take the purchase agreement to a title company to get the property transferred to me.

Can anyone help me out here by pointing out steps I need to take to protect myself and how to go from offer to close and property transfer of ownership to me so I can go and resell the property?

Thanks!

Account Closed · Answer

@Bryan BlanckeI'd consider @Jay M.Facebook group, there is so much information in there it's awesome. I would also recommend checking out @Seth Williamswebsite REtipster.com go through there and read his articles. I paid the money to get a copy of some of his template. Cheaper than hiring a lawyer and cheaper than most of the other gurus out there. What I have found now is that many of the purchase offers and agreements are very simple and not really complicated enough to hire a lawyer. The main this is to always leave the buyer (yourself) an out! Good luck!

Jay M. · Answer

Account Closedto answer your question, most of my members may use a title company to close on more expensive properties. On the less expensive ones they have the seller notarize the deed directly into their name then file it with the county. You still need to definitely do your due diligence though and getting advice from professionals is a great idea. The available courses have detailed sections on how to do due diligence. Hope this helps. Cheers!

Jay M. · Answer

Hi @Bryan Blanckethere are a few courses being offered by people such as Jack Bosch, etc but I don't think I'm allowed to post links to outside material in this forum.  You can message me and we can discuss more if you like. If you check out my group we discuss the different courses there also. Cheers.

Bryan Blancke · Answer

@Jay M.

"You still need to definitely do your due diligence though and getting advice from professionals is a great idea. The available courses have detailed sections on how to do due diligence."

Jay, I definitely could use more information on due diligence. What courses are you referring too and which would you most highly recommend?

Bryan Blancke · Answer

@Jake Thomas, I think I am leaning towards writing my own purchase agreement that is very simple and easy to understand for my customers. Looking over your contract could help give me ideas for drafting my own.

Jake Thomas · Answer

@Bryan BlanckeFind a friendly local Realtor that can give you a blank copy of a Vacant Land Purchase Agreement. My local association has them available to all agents part of their association. Worse case you can't find someone local email me and I can send you one but it's from the other side of the state.

Good luck.

Bryan Blancke · Answer

What podcast featured The Land Barron?

Steve Haight · Answer

@Bryan Blancke

Your asking lots of questions all at once here, for a good reason I am sure. There are some guys here on BP that have information on all the subjects that you are asking about and special areas here on BP that talk about what you are asking, check out the education links.  Raw land is a very niche market and very misunderstood. The land Barron is one of the guys  that did a podcast here on BP, check him out. I myself started buying raw land in the early eightys and was fortunate to have a mentor that guided me through the learning curve.

Good Luck,

Cheers,