Carrying purchase contracts in your briefcase

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My business partner is door knocking next week to try to lock down some off market deals.

I’ve heard of investors carrying purchase agreements to sign with a seller on the spot if an agreement is reached. However I don’t know if one needs to be a licensed realtor to do this.

We are buying for ourselves, not to flip to a third party.

If we use the standard South Carolina purchase agreement, is it legally permissible to have a seller sign it on the spot?

@Nat Chan Yes you can. From my studies need 4 elements, Parties competent, able to contract, has to be for a legal purpose, consideration not necessary money( some say as little as a dollar for earnest money, don't know if that would hold up in court, and offer and acceptance.

My interpretation would be you would also have to sign the contract or include and or assigns to be added later. All parties that have a beneficial interest would have to sign. So a husband and wife both would need to sign. I am not a lawyer so take it with a grain of salt. If those 4 items are met a napkin would suffice.