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Updated 10 months ago,
I have my first two houses possibly under contract. Now what?
I made a deal with two highly motivated sellers, they're ready to go. I threw in a low number for both places and now we're moving forward. This is an incredible deal as I was able to get well below 70% and am excited to not mess this up. The listings were both with the same realtor and she has agreed to represent me as the buyers agent as well. The houses were both cash buys from the seller years ago. This means no bank, no REO and the realtor says the contract can have an assignment. I know with this listing being with an agent that she will use her own contract and we will move forward with hers. Here are my questions:
1) Where do I add my assignment fee? Can I add this to the price of the home when emailing investors?
2) I requested for her contract for it to have 10 days of an inspection period. She agrees that would be fine. Is this good?
3) What are some things I should watch for in her contract?
4) Once I have the contract do I just shoot an email to all the investors to let them know or one at a time to see if they're interested first? I also have pictures from the viewings and repair estimate costs. Do I include all this in the emails or only in the emails of interested investors?
5) If an investor is ready to go, what next? Do I send my assignment contract to them and then send that to the realtor once completed by both parties?
6) If I can get an investor wanting to purchase asap, how do I have them pay the EMD?
7) If they are wanting proof of funds for the cash offers, how do I do this if I'm moving the contract to someone else?