Contracts

[Aryelle Collins]

Hello BP family,

I need a little advice from seasoned investors please. Tomorrow I am going to see a house that I have analyzed and the numbers reveal this is a possible CASH COW! I know the sellers situation and he is very motivated so I have thought of a deal that creates a win/win situation for both of us. However this will be my first deal and I do not have any contracts. I am aware of the contracts that bigger pockets offer, but I already know that things may have to be added to the contract because of the type of deal we're doing. I feel it is necessary to have an attorney look over the contracts to verify and make sure everything that needs to be included is included properly in the contract. What do you guys think? If they accept my offer tomorrow will it take to long to reach out to an attorney to review the contracts? I don't want another investor to come along and try give them another offer. Also any suggestions for excellent attorney's in Tampa?

[Mitch Messer]

@Aryelle Collins, get the deal under contract first! Getting a valid and binding contract is Step One. You can always add addenda to the contract to cover any items you missed or need to correct. Use the BP contract, if that's what you have, but get the deal!

Not sure if BP's paperwork covers this, but also consider filing a Affidavit of Agreement on public record to affirm that you have a binding contract. Ask an attorney or local investor for details.

Good luck!