Off Market Price Agreement

Off Market Price Agreement

Member since 2018 · 22 posts · 6 votes

I'm currently reaching out to private owners for the opportunity for an off market deal. Assuming me and the potential seller reach an agreement on price over the phone or by email, what type of document or form would I need to make the agreed upon price official?

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Tom GimerBusiness Member
DMV · Member since 2017 · 3k+ posts · 3k+ votes
8y

You need a contract signed by the buyer and all current owners... also referred to as a Purchase and Sale Agreement or PSA. 

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  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    8y

    You need a contract signed by the buyer and all current owners... also referred to as a Purchase and Sale Agreement or PSA. 

    Gimer Law516 Reviews
  • Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
    8y

    You guys ( buyer/seller) meet up for coffee . Go over terms on the sale you both want to see on a scratch piece of paper .. then give that to your lawyer ..Your lawyer should draft up an agreement and send it to his sellers lawyer . they hash out the fine details and come up with a sellers agreement everyone can live with .everyone signs that at closing  Atleast that’s how mine have went 

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    8y

    @Ricky Reese I second what @Tom Gimer said. Also I'd use an attorney to draft such agreement to ensure it is properly written. 

  • Member since 2018 · 22 posts · 6 votes
    8y

    Thanks for the advice. I will be looking to connect with a reputable attorney in my area.

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