Rehabber · Wilmignton, NC · Member since 2013 · 55 posts · 3 votes
Hi BP Nation,
I am looking at this great property and most likely i can get it under contract.
Its a great property, the seller has moved to California. And she is very intrested to sell it.
It defiantly has a potential for a Rehabber to make money as well.
What i am wondering is that Can i get it under Contract? I can sell it very easily(I hope) i already have a quite a buyer list. Also, I am going to couple of TRIA meetings in upcoming week.
PS i am turning 18 in late March.
I am going to visit the property this Saturday and Most likely will get it under contract this Saturday. I really hope i am eligible to............
Real Estate Investor · Tulsa, OK · Member since 2013 · 31 posts · 20 votes
12y
No legal advice and seek your own legal opinion before acting. Also, take this with a grain of sale because It has been awhile since I have look at contract law. If I remember right, a person under majority can enter in to a contract but he/she cannot be held to its terms and can void the contract it he/she chooses. The minor can hold the other party to the contract but the other party cannot hold a minor to a contract. So, if you can find someone to enter into a contract with you theoretically you could enter into a contract. All that being said, I highly recommend that you have an adult involved in any transaction: 1) to protect yourself; 2) others may feel more comfortable dealing with an adult.
Real Estate Investor · Tulsa, OK · Member since 2013 · 31 posts · 20 votes
12y
No legal advice and seek your own legal opinion before acting. Also, take this with a grain of sale because It has been awhile since I have look at contract law. If I remember right, a person under majority can enter in to a contract but he/she cannot be held to its terms and can void the contract it he/she chooses. The minor can hold the other party to the contract but the other party cannot hold a minor to a contract. So, if you can find someone to enter into a contract with you theoretically you could enter into a contract. All that being said, I highly recommend that you have an adult involved in any transaction: 1) to protect yourself; 2) others may feel more comfortable dealing with an adult.