How to make putting a property under contract EASY??

1 Reply

As a newer investor with no property’s I am wondering how the whole putting a property under contract works?

Let's say I make an offer and it gets excepted. Am I signing a purchase sale agreement then or if I made an offer is a purchase and sale agreement already signed?

Also, when you have an accepted offer do you usually already have financing in place or do you find a deal and then talk to banks, private money etc etc?

The whole putting something under contract scares me a little because I’m not sure how the whole process goes down.

Thanks for your help!

You should talk to some solid realtors for local laws that may apply.  But since you asked ....

when you make an offer you sign your side of the contract.  When it’s accepted, they sign theirs.  But, as in most things, you would list that the sale is base on contingencies such as getting schedule E’s, passing inspection, getting copies of leases, appraising high enough, getting financing of at least X% of the value, no lead/radon contamination, zoning and permits are clear, etc...  Any material findings would drive you back to negotiations and an amended purchase agreement.

Talk to a bank first though to see if you can get a qualifying letter.