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Updated about 4 years ago on . Most recent reply

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16
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Greg Clark
3
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16
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Off-market contract-when/what to sign?

Greg Clark
Posted

I'm interested in going after off-market deals without a real estate agent. My plan is to start marketing and reaching out to individuals. I'm a bit unclear as to the ideal process though. Do I set up a time to meet with them, look at the property and make an offer on the spot and try to get them to sign? Or is it best to make an offer the next day or something? 

I guess my concern is that I'd like to get them to sign something as quickly as possible, but I want to remain flexible enough to be able to get creative (offer to buy subject to, owner financed, cash, whatever). 

What is the ideal order of operations? Any books out there that go over this process in detail? Also, I'm in Utah, if that matters. 

Most Popular Reply

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159
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161
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Effram Barrett
  • Real Estate Agent
  • Houston, TX
161
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159
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Effram Barrett
  • Real Estate Agent
  • Houston, TX
Replied

One thing you can do is pay a realtor or RE attorney a one time fee to show you the ins and outs of your states contract. It will be the most binding document between you and the seller so you want to know how to navigate it and also explain to the seller what they are signing. Gurus will teach you to have the seller sign a napkin and put down $10 earnest money, but a contract is best.

The investment in learning your states RE contract is worth it's weight in gold.

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