Get it under contract...?

Question

I know this may be a noobie question, but when people mention in their post that they "get the property under contract"  Do you use the traditional buyer agreement form by the realtors in your network, or have you written customized ones?

Also do you find the longer forms detrimental to carrying out the deals?

Here in CA there are three such standard forms that I have hear of, one is the CAR form. Which is roughtly 8 pages (small print).

Thank you,
-Henry

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Mike,

Wow its great you saved that deal from going to the crapper.  I hate it when people don't realize that they are talking to people, not their commission source.

Thanks again for all the great advice,

-Henry

Mike Mitchell · Answer

Henry,
I think our form is about 10 pages including lead paint disclosure.  DNA, blood and other samples are extra :lol: Good luck on finding the right title company, it can absolutely make or break deals.  You need a closer who is a hard worker and very conscientious on your behalf.  My biggest deal to date was almost lost because a closer kept calling my seller and demanding that he do things.  The things had to be done, but her demeanor was really repelling.  I was able to get the contract moved to another title company and help the seller with some of the title issues and it turned out well.  Fortunately I had good communication with the seller who alerted me about  this.

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Mike,

Thanks, I have at least one meeting with a title company this week.  I will definitely ask them about which form their investors use.  Is the form you use a tree killer or reasonable?

:lol: 
Henry

Mike Mitchell · Answer

Henry,
I'm using the form that all the realtors in my area seem to be using TREC or Texas Real Estate Commision's contract for 1-4 units.  You might begin looking for a title co..  This would be a good excuse to go see them and get a feel for which one you might like to use and ask them which form other investors are using.  Good luck!