proper contract assigment technique

[Jason K.]

Good morning all,

I'm a Texas Realtor that specializes in investment properties, primarily deals from the MLS, and bank owned properties.

I've been browsing various topics and posts for a few days, but haven't found answers to some of my most important concerns.

I'm trying to expand my business to homes that aren't being advertised or listed and I have recently been driving different neighborhoods in the Houston area that are prime targets for my investors, just looking for potential deals and motivated sellers.

I'm a hard worker and very passionate about my career, but I want to get EXPERT advice on if this would be a waste of time for me, driving these neighborhoods 1-2 times a week (4 hours a day) looking for deals for my investors, and even myself.

How often should I expect to locate a deal where the seller is open minded or desperate to sell his home below market value. I'm confident in my negotiating skills I just want to make sure I manage my time efficiently. Any advice here is appreciated.

Also, being a Realtor, I'm a bit confused on how I would structure my offer with the homeowner, not knowing the financing of my end buyer...How would I fill in this section of the offer? In legalese, how do I cover my a$$ in the contract to make sure I'm not liable, and can walk away in an event my end buyer does not come through?

I've read how to assign the contract -- where I would write 'my name' as the buyer at the top, then "assigns to ____" but if someone could provide me with exact verbeage here I would greatly appreciate it.

Also, what is good fee to use in Texas? I've heard where some will take earnest money up front and also collect their fee at closing. What is the most popular way to go about this if any, what do you recommend as a good fee? I don't want to sell my self short here, and don't want to be to steep.

Thanks in advance for any of you who wish to participate. It all sounds a bit needy, but after I've conquered these concerns, I'm on my way. I look forward to any help I can get. If you have any questions about the Houston market and need my expertise, please don't hesitate, I'd love to help you as well. Thanks!

-Jason-