How much did you spend on your contracts?

Question

Hello BP community!  I had a question - how much did you spend on getting your purchase agreement and assigment agreement reviewed by an attorney?  I got a quote today that seemed on the high-side.  I'm curious to hear what others have spent.  Also, did you have your marketing letters reviewed as well?

Account Closed · Answer

I am also interested in checking those out! Thanks!

Robert Richards · Answer

Thank you @Jose Flores. I would definitely be interested in a seeing the contract.  Is there any nuances about this contract that would not apply for the state of California?

Kenson Goo · Answer

Yes, I am interested in that too. @Jose Flores

Rafael Dalmasi · Answer

@Jose Flores Would you mind also sharing with me the standard purchase and sale agreement contracts?

Jose Flores · Answer

Hey @Robert Richards Don't waste any money on that.  The two different purchase contracts I use and recommend to my students are the Standard Real Estate Contract that your local real estate agents and brokers use and the Standard Purchase and Sale Agreement.  The Standard Real estate contract that your local real estate agents is the one I use most often and the one I recommend you use. Sellers who have bought or sold a house recognize it and feel more comfortable signing it; attorneys deal with them every day so they prefer it be written on that contract; and your end buyer who in an investor will recognize and know that contract. The point here is because the standard real estate contract is so widely used in the industry it makes it a widely excepted contract to facilitate real estate transactions.  The second contract I often share with my students is the Standard Purchase and Sale Agreement. I included this contract because I know some of my students want to get started now. Until you have built a relationship with a real estate agent and get from them a standard real estate contract you will use this. What I like about this contract is how simple and short it is. It is only a 2-page contract that communicates everything needed to get the job done.  If your interested inbox me and I'll share it with you.  Hope this helps.