All Forum Posts by: Chris Piper

Justin, here is how I figure my numbers. Maybe this will help you? I did an example too so you can see the numbers. Tweak the formula as needed.

FORMULA

ARV

*70%

-Repairs

-$3K Closing Costs and Points for Borrowing Funds

-Profit(=10% of ARV)

-Counter Offer Margin(=3% of ARV)

= Max Purchase Price

*Make initial offer of 65% of Max Purchase Price

EXAMPLE

$100,000 ARV

$70,000($100K X 70%)*70%

$18,000 -Repairs

$3,000 -$3K Closing Costs and Points for Borrowing Funds

$10,000 -Profit(=10% of ARV)

$ 3,000 -Counter Offer Margin(=3% of ARV)

$36,000= Max Purchase Price

-----------------------------------------------------------------------------------------

$100,000 X 70%

= $70,000 (Max buyer will have into the deal including repairs)

- $18,000 for repairs

= $52,000 (My price to buyers - 70% of ARV minus repairs)

- $3,000 closing costs(I try to negotiate as much of the closing costs from both closing away when doing a double close)

- $10,000 profit

- $3,000 counter offer margin(wiggle room)

$36,000= Max Purchase Price

*I Make my initial offer at 65% of my Max Purchase Price

Initial Offer= $23,400

No problem Pedro. Message me on here with you email address and I'll send it to you.

Below is a standard purchase agreement, but you can always get one specific to California from a real estate agent. You use the same standard forms for wholesaling as if you were buying a house to live in. If the purchase agreement below isn't formatted right on this post, which I doubt it will be, then message me with your email address and I can email you a copy.

Standard Purchase and Sales Agreement

Parties _______________________________(BUYER) and (SELLER) which terms may be singular or

plural and will include the heirs successors, personal representatives and assigns of Seller and Buyer, hereby agree that Seller will sell and Buyer will buy the

following property, upon the following terms and conditions if completed or marked. In any conflict of terms or conditions, that which is added will

supersede that which is printed or marked. The Property is in ________________County, and is described as follows (If lengthy, attach legal description):

__________________________________________________________________________________________________________________

Address_________________________________________________________________________________ZIP__________________________________

It is understood that the Property will be conveyed by General Warranty Deed (unless otherwise required) subject to taxes, existing zoning (unless otherwise

specified in paragraph 16), covenants, restrictions and easements of record.

1. Total Purchase Price to be paid by Buyer is payable as follows:

A. Binder deposit which will remain as a binder until closing, unless sooner forfeited or returned, according to the provisions in this Agreement $________

B. Additional binder deposit due within ______days after date of this agreement $________

C. Balance due at closing (not including Buyer’s closing cost, prepaid items or prorations) in U.S. cash or locally drawn certified or cashier’s check

approx. ____________exactly _____________ $ ________

D. Proceeds of a new loan to be executed by Buyer to any lender other than Seller $_________

E. Purchase money loan to Seller on terms set forth in Paragraph 2C $_________

F. Other financing _____________________________________________________ $_________

G. Existing mortgage balance encumbering the Property to be assumed by Buyer (approximately) $_________

H. Total Purchase Price approx. ___________________ exactly _________________ $_________

2. Financing: If buyer does not obtain the required financing but otherwise complies with the terms hereof, the binder deposit less sales and loan processing

costs incurred, will be returned to the Buyer.

A [ ]Application: The application for the mortgage described in paragraph 1D will be made with lender selected by [ ] Seller of [ ] Buyer. Unless such

mortgage loan is approved without continued contingencies other than those elsewhere covered in this agreement within _____days of the date of

acceptance of this agreement, Seller and Buyer will have the right to terminate this agreement, and Buyer will return to Seller all the title evidence and

surveys received from Seller. Buyer will make application for financing within____days of the date of acceptance of this agreement and in a timely

manner furnish any and all credit, employment, financial and other information required by the lender. In the event the original loan application is

denied, Buyer, if requested by Seller, will reapply within _____ days of such request at an alternate institution.

B [ ]Loan Assumption: Buyer understands that interest [ ] will [ ] will not, escalate and is [ ] variable [ ] fixed rate. Buyer will within ___days make

required application and timely provide qualifying information as required by lender. Buyer’s obligation to close is contingent on lender’s approval of the

assumption within __days of the date of acceptance of this agreement.

C [ ]Seller: The balance due to Seller will be evidenced by a negotiable promissory note of Borrower, secured by a valid purchase money____ mortgage

or Trust Deed on the Property and delivered by Buyer to Seller dated the date of closing bearing annual interest rate of ______ % and payable $_______

per _____for ___years ____ months. Privilege of prepayment[ ] does apply [ ] does not apply. The loan will be ____due on sale ___not due on sale of

Property.

3. Buyer Will Pay:

A. Closing Costs [ ] Recording fees [ ] Note stamps[ ] Intangible tax [ ] Credit reports [ ] Loan transfer and assumption charges [ ] VA funding fee

B. [ ] Loan origination fee [ ] Loan insurance premium [ ] Loan discount not to exceed_____ [ ] Transfer Tax [ ] Wood Destroying Organism

Report

C. [ ] Appraisal [ ]Survey [ ]Title Insurance Policy __________ [ ]Other___________________________________________________________

4. Seller Will Pay:

A. Closing Costs [ ] Transfer tax [ ] Title insurance policy [ ] _______Attorney's fee [ ] Real estate brokerage fee[ ]Loan discount not to exceed

____[ ] Satisfaction and recording fee [ ] Repairs or replacements, in addition to those in paragraph 9, not to exceed $________________________

[ ]Wood destroying organism report [ ] Appraisal fee [ ] Survey [ ] Other_____________________________________

B. All other charges required by lender which Buyer is prohibited from paying by law or regulation.

C. All mortgage payments or condominium and association fees will be current at Seller's expense at the time of closing.

5. Payment of Expenses: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or

Buyer will be the responsibility of the Buyer, with costs deducted from binder deposit. If Seller fails to perform, all loan, sales processing and closing costs

incurred whether same were to be paid by Seller or Buyer will be the responsibility of Seller, and Buyer will be entitled to the return of the Binder deposit

This will include, but not be limited to the transaction not being closed because Seller is unable to complete the transaction for a qualified Buyer, or because

the property does not appraise for an amount sufficient to enable the lender to make the required loan, or because Seller elects not to pay for the excess

amount in paragraphs 4 (with respect to repairs), 9, or 11, or because the zoning is not as required in paragraph 16 or because Seller cannot deliver

marketable title.

6. Prorations: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums

and interest on loans will be prorated as of the date of closing.

7. Title Evidence: Within _____days [ ] after acceptance [ ] after date of satisfaction of all conditions in paragraph 19. Seller will deliver to Buyer or

closing attorney [ ]Title insurance commitment for an owner's policy in the amount of the purchase price. Any expense of curing title including but not

limited to legal fees, discharge of liens and recording fees will be paid by Seller.

8. Survey: Within _____days [ ] after date of acceptance [ ] after date of satisfaction of all conditions on paragraph 19, Seller will deliver to Buyer or

closing attorney [ ]A new staked survey dated within 3 months of closing showing all improvements now existing thereon and certified to Buyer, lender and

the title insurer [ ]A copy of a previously made survey of the Property showing all improvements now existing thereon.[ ] No survey is required.

9. Wood destroying Organism Report: “Wood Destroying Organism” means any arthropod or plant life which damages a structure. Buyer may have property

inspected by a Certified Pest Control Firm to determine whether there is any visible active wood destroying organism infestation or visible existing structural

damage from wood destroying organisms to the improvements. If Buyer is informed of either or both of the foregoing, Seller will have seven (7) days from

receipt of written notice thereof within which to have all such wood destroying organism damages whether visible or not inspected and estimated by a

licensed building or general contractor. Seller will pay costs of treatment and repairs of all structural damage up to one percent (1 %) of the purchase price. If

such costs exceed the amount agreed to be paid by Seller and Seller declines to treat and repair, Buyer will have the option of (a) terminating this Agreement

or,

(b) Proceeding with the transaction in which event Seller will bear costs equal to one percent (1 %) of the purchase price.

10. Title Examination and Time for Closing:

A. If title evidence and survey, as specified above, show Seller is vested with a marketable title, subject to the usual exceptions contained in title

insurance commitments (such as exceptions for survey, current taxes, zoning ordinances, covenants, restrictions and easements of record), the

transaction will be closed and the deed and other closing papers delivered on or before [ ]__________ [ ] _______ days after the date of

acceptance.

B. _____________days after date of satisfaction of all conditions in paragraph 19 unless extended by other conditions of this Agreement or this

agreement is cancelled by the Buyer.

C. If title evidence or survey reveal any defects which render the title unmarketable, Buyer will have 7 days from receipt of title commitment and survey

to notify Seller of such title defects and Seller agrees to use reasonable diligence to cure such defects at Seller's expense and will have 30 days to do so,

in which event this transaction will be closed within 10 days after delivery to Buyer of evidence that such defects have been cured. Seller agrees to pay

for and discharge all due or delinquent taxes, liens and other encumbrances, unless otherwise agreed. If Seller is unable to convey to Buyer a marketable

title, Buyer will have the right to terminate this agreement at the same time returning to Seller all title evidence and surveys received from Seller, or

Buyer will have the right to accept such title as Seller may be able to convey and to close this transaction upon the terms stated herein, which election

will he exercised within 10 days from notice of Seller’s inability to cure.

11. Loss or Damage: If the property is damaged by fire or other casualty prior to closing, and cost of restoration does not exceed 3% of the assessed

valuation of the improvements located on the Property, cost of restoration will he an obligation of the Seller and closing will proceed pursuant to the terms of

this Agreement with cost thereof escrowing at closing. In the event cost of restoration exceeds 3% of the assessed valuation of the improvements and the

Seller declines to repair or restore, Buyer will have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds

payable by virtue of such loss or damage, or of canceling this Agreement.

12. Seller agrees to deliver the Property in its PRESENT AS IS CONDITION except as otherwise specified herein. Seller does hereby certify and represent

that Seller has legal authority and capacity to convey the property with all improvements. Seller further certifies and represents that Seller knows of no latent

defects to the property and knows of no facts materially affecting the value of the property except the following: Description of problems:

________________________________________________________________________________________________________________________

Buyer has inspected the property and HAS NOT RELIED UPON ANY REPRESENTATIONS MADE BY ANY REAL ESTATE AGENT in describing the

property, and Buyer accepts the property in its PRESENT AS IS CONDITION, except as otherwise specified herein.

13. Occupancy [ ] Seller represents that there are no parties in occupancy other than Seller. Buyer will be given occupancy at closing unless

herein __________________________________________________________________________________________________________________

[ ] Buyer understands that property is available for rent or rented and the tenant may continue in possession following closing unless otherwise agreed in

writing. Deposits will he transferred to Buyer at closing.

14. Personal Property: included in the purchase price are all fixed equipment including ceiling fans, drapery, hardware, attached lighting fixtures, mailbox,

fence, plants and shrubbery as now installed on the property and these additional items__________________________________________________

Items specifically excluded from this agreement: ________________________________________________________________________________

15. Default and Attorney's Fees: If Buyer defaults on this agreement, all deposits will be retained by the Seller as full settlement of any claim, whereupon

Buyer and Seller will be relieved of all obligations under this agreement. If Seller defaults under this Agreement, the Buyer may seek specific performance or

elect to receive the return of the Buyers deposit(s) without thereby waiving any action for damages resulting from Seller's breach. In connection with any

litigation arising out of this Agreement, the prevailing party will be entitled to recover all costs including a reasonable attorney's fee.

16. Zoning and Restrictions: Unless the Property is zoned and can he legally used for ____________use, or if there is notice of proposed zoning changes,

deed or other restrictions that could prevent such use at time of closing, Buyer will have the right to terminate this Agreement. Buyer will have 10 days from

acceptance to verify the existing zoning and current proposed changes, and deliver written notice of objections to Seller or be deemed to have waived

objections under this paragraph.

17. The offer of BUYER shall terminate if SELLER has not indicated his acceptance of this Agreement by signing and delivering same or telegraphing

acceptance to Buyer or submitting agent before ________:01[ ]AM[ ]PM., Date ________

18 Additional Terms, Conditions or Addenda (lettered A.B.C.D.etc.)__________________________________________________________

__________________________________________________________________________________________________________________

__________________________________________________________________________________________________________________

19 Timing: The timing of paragraphs 7,8,9, and 10(A) will become operable after satisfaction of paragraph 2, if applicable, and those additional conditions

lettered in Paragraph 18.

20. There are no other agreements, promises or understandings between these parties except as specifically set forth herein. This legal and binding

agreement will be construed under______ Law, will not be recorded and if not understood, parties should seek competent legal advice. Seller and Buyer give

real estate agent authorization to advise surrounding neighbors who will be the owner of this property. TIME IS OF THE ESSENCE IN THIS

AGREEMENT. Evidence of this agreement may be recorded on the public record.

21. Signed sealed on the date herein stated

___________________________________ _____________ _____________________________________________

Buyer Date of Offer Buyer

___________________________________ ________________ ____________________________________________

Seller Date of Acceptance Seller

[ ]Agent [ ] Seller, by the signature below, acknowledge receipt of $ [ ]Cash [ ] Check, as binder deposit, which is the amount mentioned in paragraph 1 A

of this Agreement. It will be deposited and held in escrow pending disbursement according to terms hereof, together with all additional binder deposits

escrowed by terms of this agreement.

___________________________________ _______________________________________

Agent Seller

Broker's Fee (Check and complete the one applicable)

[ ] IF A LISTING AGREEMENT IS CURRENTLY IN EFFECT.

Seller agrees to pay the broker named below, including cooperating subagents named according to the terms of an existing, separate listing agreement.

Cooperating Commission: or

[ ] IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT.

Seller will pay the broker named below, at the time of closing, from the disbursements of the proceeds of the sale, compensation in the amount of

(COMPLETE ONE ONLY) _______ % of gross purchase price or $__________ for broker's services in effecting the sale by finding the Buyer ready,

willing and able to purchase pursuant to the foregoing Agreement. If Buyer fails to perform and deposits are retained, 50% thereof, after deduction of

costs assessed against the deposit, (but not exceeding the broker's fee above provided) will be paid broker, as full consideration for broker's services

including costs expended by broker and the balance will be paid to seller. If the transaction does not close because of refusal or failure of Seller to

perform, Seller will pay the full fee upon demand. In any litigation arising out of the Agreement concerning the broker's fee, the prevailing party will

recover reasonable attorney's fees and costs.

________________________________ _________________________________ __________________________________

Firm Name of Broker Name of Cooperating SubAgent Seller

By ______________________________ _________________________________ __________________________________

Authorized Signatory Authorized Signatory of SubAgent. Seller

Standard Purchase and Sales Agreement

Parties _______________________________(BUYER) and (SELLER) which terms may be singular or

plural and will include the heirs successors, personal representatives and assigns of Seller and Buyer, hereby agree that Seller will sell and Buyer will buy the

following property, upon the following terms and conditions if completed or marked. In any conflict of terms or conditions, that which is added will

supersede that which is printed or marked. The Property is in ________________County, and is described as follows (If lengthy, attach legal description):

__________________________________________________________________________________________________________________

Address_________________________________________________________________________________ZIP__________________________________

It is understood that the Property will be conveyed by General Warranty Deed (unless otherwise required) subject to taxes, existing zoning (unless otherwise

specified in paragraph 16), covenants, restrictions and easements of record.

1. Total Purchase Price to be paid by Buyer is payable as follows:

A. Binder deposit which will remain as a binder until closing, unless sooner forfeited or returned, according to the provisions in this Agreement $________

B. Additional binder deposit due within ______days after date of this agreement $________

C. Balance due at closing (not including Buyer’s closing cost, prepaid items or prorations) in U.S. cash or locally drawn certified or cashier’s check

approx. ____________exactly _____________ $ ________

D. Proceeds of a new loan to be executed by Buyer to any lender other than Seller $_________

E. Purchase money loan to Seller on terms set forth in Paragraph 2C $_________

F. Other financing _____________________________________________________ $_________

G. Existing mortgage balance encumbering the Property to be assumed by Buyer (approximately) $_________

H. Total Purchase Price approx. ___________________ exactly _________________ $_________

2. Financing: If buyer does not obtain the required financing but otherwise complies with the terms hereof, the binder deposit less sales and loan processing

costs incurred, will be returned to the Buyer.

A [ ]Application: The application for the mortgage described in paragraph 1D will be made with lender selected by [ ] Seller of [ ] Buyer. Unless such

mortgage loan is approved without continued contingencies other than those elsewhere covered in this agreement within _____days of the date of

acceptance of this agreement, Seller and Buyer will have the right to terminate this agreement, and Buyer will return to Seller all the title evidence and

surveys received from Seller. Buyer will make application for financing within____days of the date of acceptance of this agreement and in a timely

manner furnish any and all credit, employment, financial and other information required by the lender. In the event the original loan application is

denied, Buyer, if requested by Seller, will reapply within _____ days of such request at an alternate institution.

B [ ]Loan Assumption: Buyer understands that interest [ ] will [ ] will not, escalate and is [ ] variable [ ] fixed rate. Buyer will within ___days make

required application and timely provide qualifying information as required by lender. Buyer’s obligation to close is contingent on lender’s approval of the

assumption within __days of the date of acceptance of this agreement.

C [ ]Seller: The balance due to Seller will be evidenced by a negotiable promissory note of Borrower, secured by a valid purchase money____ mortgage

or Trust Deed on the Property and delivered by Buyer to Seller dated the date of closing bearing annual interest rate of ______ % and payable $_______

per _____for ___years ____ months. Privilege of prepayment[ ] does apply [ ] does not apply. The loan will be ____due on sale ___not due on sale of

Property.

3. Buyer Will Pay:

A. Closing Costs [ ] Recording fees [ ] Note stamps[ ] Intangible tax [ ] Credit reports [ ] Loan transfer and assumption charges [ ] VA funding fee

B. [ ] Loan origination fee [ ] Loan insurance premium [ ] Loan discount not to exceed_____ [ ] Transfer Tax [ ] Wood Destroying Organism

Report

C. [ ] Appraisal [ ]Survey [ ]Title Insurance Policy __________ [ ]Other___________________________________________________________

4. Seller Will Pay:

A. Closing Costs [ ] Transfer tax [ ] Title insurance policy [ ] _______Attorney's fee [ ] Real estate brokerage fee[ ]Loan discount not to exceed

____[ ] Satisfaction and recording fee [ ] Repairs or replacements, in addition to those in paragraph 9, not to exceed $________________________

[ ]Wood destroying organism report [ ] Appraisal fee [ ] Survey [ ] Other_____________________________________

B. All other charges required by lender which Buyer is prohibited from paying by law or regulation.

C. All mortgage payments or condominium and association fees will be current at Seller's expense at the time of closing.

5. Payment of Expenses: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or

Buyer will be the responsibility of the Buyer, with costs deducted from binder deposit. If Seller fails to perform, all loan, sales processing and closing costs

incurred whether same were to be paid by Seller or Buyer will be the responsibility of Seller, and Buyer will be entitled to the return of the Binder deposit

This will include, but not be limited to the transaction not being closed because Seller is unable to complete the transaction for a qualified Buyer, or because

the property does not appraise for an amount sufficient to enable the lender to make the required loan, or because Seller elects not to pay for the excess

amount in paragraphs 4 (with respect to repairs), 9, or 11, or because the zoning is not as required in paragraph 16 or because Seller cannot deliver

marketable title.

6. Prorations: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums

and interest on loans will be prorated as of the date of closing.

7. Title Evidence: Within _____days [ ] after acceptance [ ] after date of satisfaction of all conditions in paragraph 19. Seller will deliver to Buyer or

closing attorney [ ]Title insurance commitment for an owner's policy in the amount of the purchase price. Any expense of curing title including but not

limited to legal fees, discharge of liens and recording fees will be paid by Seller.

8. Survey: Within _____days [ ] after date of acceptance [ ] after date of satisfaction of all conditions on paragraph 19, Seller will deliver to Buyer or

closing attorney [ ]A new staked survey dated within 3 months of closing showing all improvements now existing thereon and certified to Buyer, lender and

the title insurer [ ]A copy of a previously made survey of the Property showing all improvements now existing thereon.[ ] No survey is required.

9. Wood destroying Organism Report: “Wood Destroying Organism” means any arthropod or plant life which damages a structure. Buyer may have property

inspected by a Certified Pest Control Firm to determine whether there is any visible active wood destroying organism infestation or visible existing structural

damage from wood destroying organisms to the improvements. If Buyer is informed of either or both of the foregoing, Seller will have seven (7) days from

receipt of written notice thereof within which to have all such wood destroying organism damages whether visible or not inspected and estimated by a

licensed building or general contractor. Seller will pay costs of treatment and repairs of all structural damage up to one percent (1 %) of the purchase price. If

such costs exceed the amount agreed to be paid by Seller and Seller declines to treat and repair, Buyer will have the option of (a) terminating this Agreement

or,

(b) Proceeding with the transaction in which event Seller will bear costs equal to one percent (1 %) of the purchase price.

10. Title Examination and Time for Closing:

A. If title evidence and survey, as specified above, show Seller is vested with a marketable title, subject to the usual exceptions contained in title

insurance commitments (such as exceptions for survey, current taxes, zoning ordinances, covenants, restrictions and easements of record), the

transaction will be closed and the deed and other closing papers delivered on or before [ ]__________ [ ] _______ days after the date of

acceptance.

B. _____________days after date of satisfaction of all conditions in paragraph 19 unless extended by other conditions of this Agreement or this

agreement is cancelled by the Buyer.

C. If title evidence or survey reveal any defects which render the title unmarketable, Buyer will have 7 days from receipt of title commitment and survey

to notify Seller of such title defects and Seller agrees to use reasonable diligence to cure such defects at Seller's expense and will have 30 days to do so,

in which event this transaction will be closed within 10 days after delivery to Buyer of evidence that such defects have been cured. Seller agrees to pay

for and discharge all due or delinquent taxes, liens and other encumbrances, unless otherwise agreed. If Seller is unable to convey to Buyer a marketable

title, Buyer will have the right to terminate this agreement at the same time returning to Seller all title evidence and surveys received from Seller, or

Buyer will have the right to accept such title as Seller may be able to convey and to close this transaction upon the terms stated herein, which election

will he exercised within 10 days from notice of Seller’s inability to cure.

11. Loss or Damage: If the property is damaged by fire or other casualty prior to closing, and cost of restoration does not exceed 3% of the assessed

valuation of the improvements located on the Property, cost of restoration will he an obligation of the Seller and closing will proceed pursuant to the terms of

this Agreement with cost thereof escrowing at closing. In the event cost of restoration exceeds 3% of the assessed valuation of the improvements and the

Seller declines to repair or restore, Buyer will have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds

payable by virtue of such loss or damage, or of canceling this Agreement.

12. Seller agrees to deliver the Property in its PRESENT AS IS CONDITION except as otherwise specified herein. Seller does hereby certify and represent

that Seller has legal authority and capacity to convey the property with all improvements. Seller further certifies and represents that Seller knows of no latent

defects to the property and knows of no facts materially affecting the value of the property except the following: Description of problems:

________________________________________________________________________________________________________________________

Buyer has inspected the property and HAS NOT RELIED UPON ANY REPRESENTATIONS MADE BY ANY REAL ESTATE AGENT in describing the

property, and Buyer accepts the property in its PRESENT AS IS CONDITION, except as otherwise specified herein.

13. Occupancy [ ] Seller represents that there are no parties in occupancy other than Seller. Buyer will be given occupancy at closing unless

herein __________________________________________________________________________________________________________________

[ ] Buyer understands that property is available for rent or rented and the tenant may continue in possession following closing unless otherwise agreed in

writing. Deposits will he transferred to Buyer at closing.

14. Personal Property: included in the purchase price are all fixed equipment including ceiling fans, drapery, hardware, attached lighting fixtures, mailbox,

fence, plants and shrubbery as now installed on the property and these additional items__________________________________________________

Items specifically excluded from this agreement: ________________________________________________________________________________

15. Default and Attorney's Fees: If Buyer defaults on this agreement, all deposits will be retained by the Seller as full settlement of any claim, whereupon

Buyer and Seller will be relieved of all obligations under this agreement. If Seller defaults under this Agreement, the Buyer may seek specific performance or

elect to receive the return of the Buyers deposit(s) without thereby waiving any action for damages resulting from Seller's breach. In connection with any

litigation arising out of this Agreement, the prevailing party will be entitled to recover all costs including a reasonable attorney's fee.

16. Zoning and Restrictions: Unless the Property is zoned and can he legally used for ____________use, or if there is notice of proposed zoning changes,

deed or other restrictions that could prevent such use at time of closing, Buyer will have the right to terminate this Agreement. Buyer will have 10 days from

acceptance to verify the existing zoning and current proposed changes, and deliver written notice of objections to Seller or be deemed to have waived

objections under this paragraph.

17. The offer of BUYER shall terminate if SELLER has not indicated his acceptance of this Agreement by signing and delivering same or telegraphing

acceptance to Buyer or submitting agent before ________:01[ ]AM[ ]PM., Date ________

18 Additional Terms, Conditions or Addenda (lettered A.B.C.D.etc.)__________________________________________________________

__________________________________________________________________________________________________________________

__________________________________________________________________________________________________________________

19 Timing: The timing of paragraphs 7,8,9, and 10(A) will become operable after satisfaction of paragraph 2, if applicable, and those additional conditions

lettered in Paragraph 18.

20. There are no other agreements, promises or understandings between these parties except as specifically set forth herein. This legal and binding

agreement will be construed under______ Law, will not be recorded and if not understood, parties should seek competent legal advice. Seller and Buyer give

real estate agent authorization to advise surrounding neighbors who will be the owner of this property. TIME IS OF THE ESSENCE IN THIS

AGREEMENT. Evidence of this agreement may be recorded on the public record.

21. Signed sealed on the date herein stated

___________________________________ _____________ _____________________________________________

Buyer Date of Offer Buyer

___________________________________ ________________ ____________________________________________

Seller Date of Acceptance Seller

[ ]Agent [ ] Seller, by the signature below, acknowledge receipt of $ [ ]Cash [ ] Check, as binder deposit, which is the amount mentioned in paragraph 1 A

of this Agreement. It will be deposited and held in escrow pending disbursement according to terms hereof, together with all additional binder deposits

escrowed by terms of this agreement.

___________________________________ _______________________________________

Agent Seller

Broker's Fee (Check and complete the one applicable)

[ ] IF A LISTING AGREEMENT IS CURRENTLY IN EFFECT.

Seller agrees to pay the broker named below, including cooperating subagents named according to the terms of an existing, separate listing agreement.

Cooperating Commission: or

[ ] IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT.

Seller will pay the broker named below, at the time of closing, from the disbursements of the proceeds of the sale, compensation in the amount of

(COMPLETE ONE ONLY) _______ % of gross purchase price or $__________ for broker's services in effecting the sale by finding the Buyer ready,

willing and able to purchase pursuant to the foregoing Agreement. If Buyer fails to perform and deposits are retained, 50% thereof, after deduction of

costs assessed against the deposit, (but not exceeding the broker's fee above provided) will be paid broker, as full consideration for broker's services

including costs expended by broker and the balance will be paid to seller. If the transaction does not close because of refusal or failure of Seller to

perform, Seller will pay the full fee upon demand. In any litigation arising out of the Agreement concerning the broker's fee, the prevailing party will

recover reasonable attorney's fees and costs.

________________________________ _________________________________ __________________________________

Firm Name of Broker Name of Cooperating SubAgent Seller

By ______________________________ _________________________________ __________________________________

Authorized Signatory Authorized Signatory of SubAgent. Seller

I wouldn't partner with him unless you have to. You found the deal, and are doing all the work, so why not keep all the profits. If you really need the $6K from him, then you could consider it, but if not, I would not do it.

If you do decide to partner with him, make sure you come up with a fair offer for him, otherwise I could see him being lazy about getting it done if he feels that his cut is inadequate. Either way, there are plenty of good contractors out there if his work or him being a partner are not are a problem.

Also, him bringing $6K to the table is his contribution. Him doing the work, having experience, etc. That's his job, and that's what he gets paid to do. I would not give away any more than you have to for him simply doing his job.

I would mail to her every 3-4 weeks. Everyone's circumstances change with time. Maybe you are close now, but maybe in a couple of months, she will just need to get rid of the property, and will do so at the price you offered.

Just an FYI, if you are at you MPP(max purchase price) and she rejected it, keep mailing to her, and stick with the same exact offer each time. Don't lower it to prove a point, and don't raise it unless you can afford to. Keep it the same if that is what you can afford to pay. Also, do it the same way with banks as well. Never lower or raise your max offeroffer. If you are at your max offer, then keep offering the same offer every 3-4 weeks until it's sold to you, or someone else.

I'm not sure what the time-frame is in your county, but there are definitely some issues that could be a problem for you. Liens, title issues, etc. You would need to have a title company run a title search for each property you are interested in. Might be a couple hundred bucks per property. Maybe check and see what the county says about the risks 1st before you decide. May or may not be worth buying them.

Well, you can definitely automate a little more with a few things, and of course it depends on what exactly you do in real estate. Are you a landlord, wholesaler, rehabber?

I am using iFlip, and it automates almost everything for me. You need websites, and matching emails. Maybe a phone number that is just a recording. You can advertise via bandit signs or car magnets to drive people to your website or phone number, social media advertising, etc. And also it depends on what you're trying to achieve with the automation. Are you trying to build a cash buyer's list, are you trying to find motivated buyers, etc? I would post a little more info so people can guide you in the right direction.

In my opinion, it sounds like the landlord was more of the problem than the tenant. Why would a landlord be uncooperative in the 1st place? Sounds like maybe the landlord was shady. If previous landlords say she was a good tenant, then I would say you'll be O.K. Or better yet, see if the renter wants to do a lease option.

Use your own agent and put in an offer asap. Maybe you'll get lucky, and hopefully the agent/broker will only get half the commission for being a jerk.

We have not actually used that strategy yet, but we may at some point. It was just a way that I had heard of, and I made a note of it for future reference. We have access to a huge list of cash buyers and motivated sellers that we pay for, so we generally just send mailers to them and the addresses are usually accurate.