All Forum Posts by: India Estes

First. Thank you for responding. No I'm talking about Offer to Purchase contract, it's basically a purchase contract but with all of the property description, terms, etc. but at the end of the contract it gives the seller the option to do a accept your offer, do a counter offer, or decline your offer. You can find an example on myfsbo.com.

So you dont have to have an earnest deposit for a contract to be binding? I always heard there are two things that you need to make a contract binding, 1 is a contract with the seller's and the buyer's name agreeing to the terms and 2 something of value, whether it's money, valuable jewelry, or something else.

So I could put a property under contract, then assign it without putting down an earnest deposit. Hmmm...interesting!...learn something new everyday! Thats great.

Thank you Ryan,

Later...Van
:superman:

Can I assign an offer to purchase contract?

When doing an "offer to purchase" do you have to give an earnest money deposit? or not until they accept and we do an actual agreement?

Thank you,

Later...Van :D
:superman:

Hi, I'm working on my first wholesale deal and I would like to know if your wholesaling a property to another investor in the same state as the property, do you still have to use a power of attorney? Even if I'm going to assign it to someone in that state? Also once a contract is assigned to another investor are they able to adjust the contract if need be, ex. extend closing date, etc.?

Thank you,
Van
:superman:

Yes, I thought I posted it in the wrong section, So I reposted this one b/c I thought the other one was going to get deleted.

Thank you for your response, I just wanted to make sure b/c even though it's such a small detail, small details can sometimes have big effects, like the contract becoming void.

Thank you,
Van
:superman:

Thank you for your response.
My next questions is I'm working on my first wholesale deal and I want to send the contract to the seller, but my only issue is, is the "legal description" of the property required? What happens if you cant find it?

Thank you,
Van :mrgreen:

This is my first wholesale deal and I am sooo excited!!! :mrgreen:
I've done the contract but my question is, is the legal description mandatory? I was told it was but I just want to make sure. If so, can anyone tell me how to get the legal description for a property in Putnam, NY? I've done google searches and there sites are so confusing :goofy: Can someone PLEASE guide me in the right direction, I have to get this contract to her TODAY. :D

Thank you,
Van
:superman:

This is my first wholesale deal and I am sooo excited!!! :mrgreen:
I've done the contract but my question is, is the legal description mandatory? I was told it was but I just want to make sure. If so, can anyone tell me how to get the legal description for a property in Putnam, NY? I've done google searches and there sites are so confusing :goofy: Can someone PLEASE guide me in the right direction, I have to get this contract to her TODAY. :D

Thank you,
Van
:superman:

How do you wholesale in other states? Is it,

1. Find a property
2. Check numbers
3. Place under purchase contract (fax or overnight the contract)
4. Find Buyer
5. Assign (assignment contract) or *double close contract (fax or overnight contract)
6. Collect money!!

*how do you double close in another state?

Thank you. :D

:help: I would like to know how do other real estate investors manage their property leads and contact numbers? Is there a system that allow you keep all of your real estate investing business in one system to keep up with it easy or more organized or just what are some of your methods, please.

Thank you so much!!!

How do you wholesale in other states? Is it,

1. Find a property
2. Check numbers
3. Place under purchase contract (fax or overnight the contract)
4. Find Buyer
5. Assign (assignment contract) or *double close contract (fax or overnight contract)
6. Collect money!!

*how do you double close in another state?

Thank you.