Purchase Agreement Help!

[Cole Johnson]

Hey Everyone,

I have been looking at 4 plexes to house hack in. I have looked at around ten and put offers in on two. The two I put offers in I went through a realtor. I had a seller directly contact me to sell me his 4 plex. This I know can benefit both of us. 

I am just in need of a purchase agreement so I can have something in writing. This will be my first rental property and dont want any surprises. 

Also if anyone has any experience buying directly from a seller, I would really appreciate all of your feedback!

Thanks!

[Cole Johnson]

@Graham Nash Thank you so much for the tips and recommendations! I really appreciate everyone that takes the time. In regards to the offer. I have walked through multiple four plexes around my area. (everyone that's for sale). I have offered on two of them and know what the winning offer was. I also asked my realtor that was helping out with those showings to get me a list of all the past multi-families and what they sold for. When I walked through this one with the owner I asked him what he wanted. It was a reasonable number for what it was. I offered him about 25K under his price and he didnt blink and said yes. Which worried me a little, I have made my own purchase agreement which pretty much matches my last two from when I was working with an agent. I feel confident that my price is a good deal. I will get about 1.4% rent to purchase price. I have a loan that I only need to put 5% down and 3.875% interest. Signing the purchase agreement today! 

Thanks again,

Cole