HML asking for Purchase Agreement

[Herbert Cuthbertson]

After much research about real estate investing and constantly on this site for the great information it contains, this is my 1st post which I'm sure will be among many in the years to come. I need some advice. I recently received a list of items to produce to a potential HML. One of those is a Purchase Agreement for Property (if purchase). How do I obtain this? Property is in Kentucky, off market and seller is a former neighbor of mine who is willing to sell the property to me. Is this something that is available online? Do I need to get real estate lawyer involved to obtain this purchase agreement? Does it need to be notarized with both of us present? How do I go about obtaining this document?

 Thank you in advance for your input on this.

[Luciano A.]

@Herbert Cuthbertson

Congrats on taking the first step to buying your first investment property. You can google and get a simple Real Estate purchase contract. Basically, the HML wants to see what you are buying and the price. The title company will require a contract as well when you open title.

If you think you will be doing more of these off-market deals without an agent then I think BP still sells contracts on here for like $99 that is state-specific. If you were buying from a stranger I would suggest getting a well-drafted contract but with a neighbor/friend you would be okay using generic.

Best of luck