Real Estate Investing Basics

First Time Real Estate Investing – The Contract Phase

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18 Articles Written
If you are averse to paper work, formal agreements and legalese, get over it. You can’t avoid it and it’s vitally important. Think of your contract as a big safe to protect your huge amount of valuables. The subject here will be the contract – I’ll circle back in later posts to cover the specific [...] View the full article: First Time Real Estate Investing – The Contract Phase on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.
    Nick
    Replied over 11 years ago
    Very nice and useful article. I really Like it
    Miami Contract Attorney
    Replied over 11 years ago
    It is worth mentioning that there is nothing “standard” about a contract. Realtors and even Attorneys prefer to use a standard contract )Provided by the Bar or the Realty Association) because it is easy, somewhat fair, and everybody knows the terms, which may include the local trade practices, but any term can be negotiated. Realtors will shy away from term changes because they have only limited allowance to change contract terms, and want to keep the deal alive. Your attorney can put whatever terms you want in your offer. You will only get what you settle for!
    Mike Farmer
    Replied over 11 years ago
    Thanks for the comments. Good points.
    heath
    Replied over 11 years ago
    great info.! for a first time invester like myself that is just getting started, you hear a lot about how easy it is to purchase property,but not so much on how important the contract process is,thanks!
    Mike Farmer
    Replied over 11 years ago
    Thanks, Heath. There’s nothing mystical about investing, but then there’s nothing easy, either. If was easy we’d all be rich and have bad hair (think The Donald)
    Justin McClelland
    Replied over 9 years ago
    I’m late to the party. But this is a great article. And the main reason I am commenting is to mention that I need to get some of those “sign here” post-it notes. Great choice of photo! .-= Justin McClelland´s last blog ..Capstone Condo – Investors =-.