All Forum Posts by: Nick Sandt

@Tom S.  @William Cunningham Thanks!

@Joshua Durrin  What's "seasoning" all about? And thank you! The bank still needs proof of funds from me right? Will they check up to see if the funds are coming from where I "proved" they're supposed to come from? If they do and my buyer's using a different lender, that would be challenging.

@Roland Paicely  Thanks!

Have you ever did a simultaneous closing on an REO? If you have, please tell me how it went down! If you haven't, but know how it's supposed to go down, can you please share that?

Let's pretend that my buyer wants to back out of a deal because of what a title search revealed; would an inspection clause suffice? Or would I also need to have a title contingency clause in the contract?

I mean, couldn't "the condition of the property" include liens and whatnot? I'm asking because too many clauses could scare away potential sellers, but if the inspection clause is not sufficient and I don't have a title contingency clause, the only options are to buy the property myself or lie, but I'm an honest guy.

Maybe there's nothing that can show up in a title search that could ever make my buyer want to back out or that couldn't be solved with renegotiation? Please forgive my ignorance.

@Kirk R.  The contract I'm referring to can be found at D e a n G r a z i o s i' s website. The other contracts I'm looking at were included in different eBooks/courses I've bought. 

I've been going over different contracts trying to decide which one(s) I want to use and I just stumbled upon a contract that said something that I've never seen and was wondering if anyone used a contract before that says the seller will pay for repairs? If you have, I'd like to hear how that kind of deal works out, if you'd be so kind! I assume this is nowhere near the norm.

I don't know if they have a license or not, I just started communicating with them. I don't have an attorney yet. I don't even know how much an attorney costs.

My title company said that I don't ever need to submit an earnest money deposit with my 1st contract, the only earnest money ever is from my end buyer, I'm a wholesaler by the way. But doesn't that make my contract invalid? They also said that I don't need to work with a real estate investment savvy attorney because they are fully capable of playing that role. Is anyone familiar with a title company saying these sort of things or does this sound sketchy? Any feedback is much appreciated!

Thanks for all the responses everyone! They're all very helpful and informative. I hope y'all enjoy the rest of your weekend!