Going to look today at a home, in a great part of Central Florida ( In between Winter Springs and Tuskawilla ) I really want to get it under contract today. IIve read as much as I can find about the process on BP ...
Is it really that easy? Writing a contract on a Hardees napkin? On a yellow pad? $20 of earnest money? Im afraid Im missing a big part of the process, and I dont want to look too foolish making this offer.
What should I be expecting when the words "Id like to put this under contract" come out of my mouth?
Best of luck Patrick - hope it goes well. Do you, or your lawyer, have a draft or form contract written up?
@Patrick Jacques can you get a residential resale contract copy and take it with with. Only fill out the parts you understand and then let a professional protect you with all the other parts. A Realtor would be good or the closing company you choose. Good Luck.
Well, I didnt even get that far. Hoped to get the house under contract but the realtor looked confused when I made the suggestion. I guess I have a lot to learn. It's a lot tougher than the guru, and even BP makes it out to be!
I'm confused. If you are working with a realor, why are you worried about all of the steps that they would normally handle like creating the contract? Are you trying to buy off MLS or are you working a motivated seller directly?
Im confused too, thats why Im on BP. Its a bank owned property, from the MLS only listed for five days. We're trying to get this place however we can, although it wont be easy. But I have to start somewhere, ready to learn from our mistakes ( hopefully mistakes that wont cost too much )
If you're working with a real estate agent and buying off the MLS then your agent will write up the offer for you. That's part of what they do to make their commision. And you're right, you have to start somewhere. BP is a good place to start. Don't worry about looking foolish or asking stupid questions. That's a good way to learn. Good luck!
Hey, @Patrick Jacques how's the deal coming along? I know that we're both beginners but let me know if you need someone to bounce ideas off of. Did you meet up with your realtor or the seller's agent?
@James Johnson Hello sir! Not very good! The realtor looked puzzled when I was looking to get the property under contract. I guess I need to read more books and listen to more podcasts! Getting out there and doing deals sounds all well and good until you're face to face with professionals in a serious deal. Then you just end up looking foolish.
So the seller has a realtor?
No, it's bank owned.
Patrick it sounds like you need a relator who understands your business and what you do. If you are working with a good one then they should be writing the contract for you.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing