All Forum Posts by: Larry Simmons Jr

Okay so I found a motivated seller that fits one of my buyers and is exactly what they are looking for.

Couple of things:

1. Its only 34k and I know I could get it for 42-45k with the cash buyer, but I when I am listing the price to the cash buyer do I include my assignment fee?
-OR-
Do I put (for example) 40k with assignment fee of 3-5k or just put 45k and include the assignment fee already?

2. When I tie up the property I need to fax them MY contract with the clauses right? Not the other way around.

I have read a lot of information throughout the forum, but applying it is different from reading so I decided to just post real quick.

Thanks in advance. BP is greatness.

I am trying to "tie up" a property, actually reaching for two, that fit my buyers list that I have been building before I even found the property. However, being that it is my FIRST deal I want to make sure that all contracts, and documentation I use will have as few flaws as possible. I would hate to put in the hours for it to fall through because I left out something in the contract.

I am in dire need of legit purchase and sale agreement and an assignment agreement. I was thinking about doing the assignment fee for 2-4k, is this too much?

I intend to add the clause of subject to final approval of partner as well as the inspection period (just in case)

I plan to put up the $10 earnest money, because I was told it had to be something of monetary value to make the contract valid.

Sure I am leaving something out, which is why I wanted to post on the forum before I did it but hopefully I hear back soon. Would hate to miss out on the deal =)

Thanks in advance.