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Updated over 12 years ago,
boilerplate purchase contract question
Hi all! I just spoke with an attorney refered to me by a wholesaling colleague after faxing him the purchase contract that I plan to use. It is a simple, one page contract that contains all the necessary fill in the blanks, along with necessary contingencies. I wanted it to be one page and simple so that when dealing directly with sellers, there was no confusion. He told me that it was very inadequate. He wanted to draw me up another one before I made my next offer.
But my real question lies here. I asked if he could draw me up a boilerplate contract that I could use everytime I made an offer. He hemmed and hawed, and basically said that he wouldn't recommend it, and that I should present each individual offer to him so he could draw me up another contract for each. Same kind of offers (cash with assignment) on the same kinds of houses (distressed sfh), right? Does this sound right to you guys? Don't you, once you have a purchase contract purchased or drawn up, just use the same one, perhaps with different contingencies for each and every offer? Any help would be much apprecieated :cool: