Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Results (109)
Jake Kucheck If at first you don't succeed...
21 November 2012 | 22 replies
I guess I should have prefaced it by saying the property is in CA, the land of bilateral cancellations (and no closing attorneys).
Steve Rozenberg Late Fees?
7 April 2015 | 14 replies
Now that we manage other peoples properties we really do not have the right to give deals, it would only put the owner and ourselves in legal trouble and breach of the contract.Remember, when that lease is signed it is a Bi-lateral contract, the tenant has to perform and the owner also has to perform.
Randy Tomlin Whole sale a home with mortgage on it
14 December 2015 | 6 replies
It's the difference between bilateral and unilateral contracts.Now, if you were to spend just a few days (3, 4 maybe 5) learning real estate, you'll save a lot of time and blood dripping from my finger tips repeating these basic issues LOL :)Take an option, get out of the way between the buyer and seller and obtain a release fee to release your encumbrance!
Josselyne Lugo Wholesale Owner finance.
14 August 2016 | 45 replies
A sale contract is a bilateral contract, both parties perform, one promises to sell, the other to buy.A unilateral contract may NOT be assigned without out the CONSENT of non-serveant, the party who does not perform.
Patricia Mclean Attorney will only do part of the transaction
8 July 2015 | 4 replies
In a Sub-To, the underlying mortgage remains, it is an obligation between the lender and that borrower, it is a bi-lateral contract.
Rose Ruiz Lease to Purchase Agreements
26 July 2015 | 17 replies
Bilateral contract
Steve Rozenberg Letting Tenants Slide on the Rent!
14 September 2015 | 23 replies
The way it was explained to me by a judge is that a lease is a Bi-Lateral agreement between landlord and tenant.If the tenant does not perform per the lease agreement say 'Rent is due on the first and if not in by the grace period of 11:59 of the 3rd, then on the 4th it is late and fees apply' (per the lease agreement that both parties signed.)When the tenant does not pay and if you do not charge late fees that were in the agreement and start the eviction proceedings that are in the contract, then the owner is actually the first one in breach of contract not the tenant, and you are potentially setting a precedent for not only this tenant but for all your properties due to potential Fair Housing and Discrimination Laws.So the point that the Judge was getting across was that if you put it in the contract you better be willing to enforce and back it up.
Justin Louie Seller-Financing Hybrid Strategies
30 June 2015 | 5 replies
But, you have another issue, a note is a bi-lateral contract, they may not be assigned or assumed without the lender's consent as they always have the right not to extend credit.Thinking you're going for an interest spread gets more complicated than folks think, your amortizations and contributions to principal will not match, unless the two contracts are made together.
Prince-Jovian Antoine Learning the Ins and Outs of Wholesaling. Finding Properties and Cash Buyers!
5 July 2015 | 7 replies
Yep, after you learn the principles of real estate, you know, the stuff that doesn't promise you'll make a million by Christmas, just the basics, like what real estate is, why it is unique, what rights of ownership there are, types of deeds, title, what title insurance is, how property is valued, what liens and encumbrances are, how to read a legal description, what bilateral and unilateral contracts are, what is necessary in a contract, what a leasehold interest is, how settlements are accomplished and the laws surrounding transactions. 
Cameron Riley Do you Run a Credit check; Why Or Why not?
17 April 2019 | 43 replies
They are bilateral