Wholesale Contract From Out Of State Absentee Owner -Missouri

[Roland Smith]

    Hello BiggerPockets members. I really enjoy this forum and have been researching quietly for sometime. Ive dug around for an answer to this on the forum but I havent found a clear cut answer so I am posting it here. Please let me know if this is a duplicate question. So ive found a property that I am interested in putting under contract in the Kansas City, MO area and the owner of the property is actually in another state, WA. We have had a couple of conversations over the phone and we have come to a price that is agreeable to all parties involved. 

    Ive got a blank slate contract from a title company but at this point i'm really stumped on what I do next. To be honest this is my deal #1 and so I want to make sure im doing everything correctly. Am I supposed to send her a contract and have her sign it then scan it back to me? Whats the next logical progression from here to closing. 

    Thank you for taking the time to read this and I am open to all responses

[Lee Ripma]

@Roland Smith

Just fill out the contract with all the information and send it the buyer for signature after you have agreed on terms and you sign. I agree that docusign is best for this. Once you have that signed contract you just open escrow at a title company in KC. I would tend to use the contract provided by the title company you are going to close with, however, it doesn't actually matter. That contract will spell out the terms of your closing. If you don't understand how that works just look at the contract, it spells out what will happen. Google the parts you don't understand. It may seem scary when you have never done it but it's really not that complicated. Buyer and seller just agree to how the buyer will take possession of the property. If you're really feeling unsure you could find an investor or realtor and pay them a fee to walk you through the process. You've already done all the hard work of finding the deal and negotiating the terms. Closing is easy, just go through the steps in the contract!