Which Contract Would You Use?

7 Replies

Do you change which purchasing contract you use depending on the seller? I am working with a "Big Fish" in the community who is letting me see 3 of his homes. He is obviously experienced in real estate, Should I use short and sweet 2 page contracts or the more "legal and professional" standard 7 page contract? Opinions?

Big fish needs big contract small fish small contract !!!

@Steven Picker it always seems like the real big fish do their deals on the back of a bar napkin . Lol

hmmmm..2 opposite opinions LOL

If this guy is experienced how will you proceed. Close and flip or try to broker without a license and assign. And if assign, what happens if you cannot unlicensed broker and find a buyer? Close anyways?

Use the one that allows the small fish to escape before being eaten by the big fish.

Clever @Tom Gimer.....you "lured" me in with that response..LOL

Account Closed I thought about following up with another fish joke and decided against it. You're welcome!

In the case of an experienced seller, you are probably not going to be able to control his property for long, if at all. The  purpose of your contract will be to identify the price the seller is willing to accept, a deadline, and ensure that you can't be squeezed out. You certainly don't need 7 pages for that... so tweak the 2 pager.

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