BiggerPockets

Write an offer. Haggle. Get it accepted. Send contract to a title company. Pretty much the same from that point. Pester the title company, lender, seller, anyone else who will listen to get everything done.

Pretty much any contract should work if it's a FSBO. I've seen contracts for FSBOs that is only one page long, but hey, it works just fine.

Agree, starting with your state Realtor's contract is an option, and lots cheaper than having an attorney create one. If they're not in foreclosure, it shouldn't be too critical. You could always look at old contracts and just extract the meaningful bits into a document. Since there are no realtors involved, you don't need the clauses that protect them.

Having a lawyer do it would be safest.

Talk to folks at your REIA. Someone probably has one you could use.

Thank you all for your valuable input. I managed to find my states real estate sales contract and having already having bought a couple of properties had a copy to compare it to. turns out it is the exact same form word for word. I do plan on using an attorney though but it will just be to do the title search as i will be purchasing title insurance to go along with it. I'm also going to post another question in this forum pertaining to another question I have pertaining to this deal. it will be about owner financing so perhaps any of you who may be interested could look it up and give me your opinions on it. again, thanks for your valuable time and input. it is greatly appreciated.

Well, we put the property under contract. we decided to go with a bank instead of owner financing. this way, we were also able to negotiate on the price. Now that we have a signed contract though, I'm afraid we may have made a mistake which maybe some of you might be able to lead us in the right direction. The last multi we purchased was empty so we didn't have to worry about rents or security deposits being passed on to us. this multi (4) is fully rented and the owner told us that indeed deposits were collected and that they will forward all existing leases showing the deposit and rent amounts and that they would transfer said monies to us at closing. My concern is that this is NOT mentioned anywhere in the contract. I think we can still get this fixed but how would we go about it and where should it go in the contract?
Thanks for your help.

Thank you Jon. Turns out that after freaking out about, I need to pay a little more attention to each paragraph in the contract. All of the turn over money is already covered. I kinda turned red when I found it. Anyway, hopefully everything else goes according to plan. Tomorrow I'll be presenting the contract to the banker and escrow company. one thing i'll say though is that this being our first time writing a contract directly with an individual, it has been pretty exciting even though my nerves are shot. I'll keep you posted as things move along. Also let me add that I've read a few of your posts and am thoroughly impressed with your knowledge. I've learned alot. keep it coming!