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Tax, SDIRAs & Cost Segregation

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Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
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387
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Filling out contracts

Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
Posted Mar 9 2009, 14:23

Do you bring the legal description with you before going to their house to fill in the top part of the contract? I'm assuming that you aren't starting to fill it out and then say Mr. Seller do you know the legal description?

I've heard it is somewhat common for the buyer to have a promissory note as earnest money. So I have to fill out a separate form for that right?

How do you usually negotiate fixtures? What phrases do you use to ask them which fixtures will stay? Do you write each one that will stay or do you write all will be included except...?

I have here a 3 page "seller disclosure of property condition." Do you have sellers fill this out when you are writing up the contract? It seems like it would take quite a while.

If the buyer and seller agree to delete a sentence from the contract, can you draw a line through it and initial it?

Anything else you can think of that we should know about writing up contracts?