All Forum Posts by: Chris Colvard

See if they have a web site. Better see if they sell the data.

Otherwise, try the people Jon suggested, they sell them.

Hi,

For absentee owners you will be searching for property owners that e have an address different than the property address. This data can be found in your county property tax department.

For probates, you will need to to locate the records department for probate courts in your county. You will be looking for the executor/personal representative application to locate the mailing address. You can also verify that there is real estate or "Real Property" in the inventory filling in the case file.

Sherry,

Why not contact an attorney to send a letter? Get your money back and pay the attorney his $400.00 or whatever. (It's not worth more than that by the way)

Lesson learned and be done with it.

I agree with Carlos,

Don't dig a deeper whole!

They will sign a contract with contingencies!

Here are some that work in Texas, you will need to run these by an attorney to make sure they work in your state.

Wholesale Purchase and Sale Agreement?

Wholesale Assignment Agreement?

J Scott,

I hear you. I was trying to place the earnest money check with escrow, and then have it remain un-cashed until my contingencies were removed.

I got opinions from three different attorneys because I wanted to be able to sue for specific performance if a seller backed out of a contract.

Each said my chances of winning a suit for specific performance where basically zero without cash consideration. Chances of winning doubled by having a nonrefundable earnest money (part one) $50.00 together with a refundable earnest money (part two) in an amount based on the transaction.

I'm not saying that you are wrong, but I am saying that a judge will look at a "promises to close" differently than actual cash consideration. You don't want to be in a situation where the other side can say, it's not a valid contract.

It's a basic contract law premise. A promise is not the same as cash as far as consideration in contract law. Contract law actually varies from state to state, but they are state laws.

J Scott,

In Texas it is required. This can vary by state.

So everyone else, please check the state you are in to see if it is a requirement.

Sorry, Here's a functional link:

http://www.biggerpockets.com/files/user/Chris_Colvard/file/Purchase-Agreement-pdf?

Consideration is the key here. If there is none, do you have a contract? Most states require consideration for it to be a valid contract.

See my wholesale contract for a way to minimize earnest money any still meet these guidelines:

[url=http://www.biggerpockets.com/files/user/Chris_Colvard/file/Purchase-Agreement-pdf[/url]?

You can set up an LLC in Texas for just under $400.00, state fee is $300.00. I've set them up in less than 2 days.

Good luck on doing dual closings with a standard title/escrow company in Texas, you'll need a real estate attorney to do it.

What do you want as far as a sample deal with a realtor?

There is not room for a wholesale guy and a buyers agent in most cases. There is room as a listing agent if and only if you know how to estimate rehab costs. Most do not know what rehab costs and have a good wholesale deal way overpriced.

A buyers agent can make some money on non-listed deals by finding them for end buyers such as rehab rent or rehab flip. Money can then be made with the listing on the rehab flip. The agent basically acts as the wholesaler and gets a commission instead of a wholesale fee.