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Updated almost 16 years ago on . Most recent reply

User Stats

619
Posts
75
Votes
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
75
Votes |
619
Posts

Using a board approved contract

Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Posted

I am working with a property whose half brother is a realtor. The seller wants his half brother to draw up and handle the contracts, however he wants to use a MD board approved contract as well as a 2k depo. I sent him my 1pg contract and he was cool with using that and let me put in a due diligence and inspection clause, however after inspection pd was over wanted a contingency that stated that we would sign the MD approved contract. The deal looks VERY VERY solid. 60k (my price) needs 65-75k, with arv of 240-290k (recent comps).

I am just worried about getting screwed somehow by a realtor who is smarter about this than I. They know straight out that I am assigning it. Is there anything i should be watching for or should i go forward with my contrat using my due diligence clause and i can back out if need be using that?

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