Contracts

3 Replies

What terminology is best to use in Real Estate Contracts, especially when we add contingencies. For instance, if I wanted to wholesale a property, the contingencies to have it be subject upon approval to inspection is an important one, but should I word it? I hope that is specific enough. I just don't want to ge tied down to a contract if it doesn't work out. 

@Oscar Vergara  Many contracts are "state specific". Whenever dealing with contractual questions, it is always best to consult with a legal expert. That being said, if you would like to see other contracts posted by BP members, you can visit them at: Resources > FilePlace > Contracts. 

Or simply: http://www.biggerpockets.com/files/category/contracts

Hi everyone.  I've been searching information on contracts and found this thread.

As I want to get out there and start knocking on doors....I know it's important to have paperwork for the seller to sign if you find that golden deal.

My question is......the ONE and TWO page contracts, which everyone seems to be using look simple, to the point and covers all that is required (I understand it is important to have an attorney review beforehand).
BUT.....these contracts would not be able to be brought to a title company....correct?  because the Title Companies have state issued contracts that they are obligated to use.

Even if I have an assignment clause in the original contract that I have the seller sign....does that mean that the myself and the assignee will be the only required parties to participate in the closing at the Title Company Office?

I appreciate any input.....:-)

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