Dear Property Investor,
It's a vicious world out there...it's pretty dog-eat-dog when you think about it.
And when you are dealing with listing agents and sellers, most of them only care about what THEY can get out of the deal and can care less about you.
This is why it's critical that you protect yourself.
What most beginning investors don't understand is that once your offer is accepted on a property deal, it goes to "contracts." This means that your offer is "fleshed out" into a contract form which will cover everything from the legal description of the property to the final purchase price to who is paying closing costs to your closing date and everything about the deal in between.
Without a contract, you cannot go into escrow.
Typically the listing agent or seller will have the purchase contract drawn up.
And they NEVER have your best interests at heart.
They will even go so far as to CHANGE THINGS in your original offer to have it say something completely different in the contract. I've even had listing agents CHANGE THE PURCHASE PRICE in the offer thinking I wouldn't notice!
This means that you have to protect yourself.
And the only way to do that is to draw up the contract yourself!
Drafting Your Own Contract from Scratch Can Cost You a Fortune...And If You Make a Mistake, You're Dead!
If you want to draw up your own real estate contract, it has to reflect all the state laws of where the property deal is taking place. If you live in California and your property deal is in Texas, your contract BETTER be based on Texan state property laws.
New investors will make the mistake of trying to put information into a "boilerplate" contract. In fact, many times students will ask me to send them over a boilerplate contract for them to use. My response is typically the same: "I cannot give you a boilerplate contract because it doesn't exist. Every state has different real estate laws that have to be included in the contract legalese. No exceptions!"
If you don't put the legalese required by the state in which your property deal is taking place then you could end up being legally and financially responsible for elements in the deal that you SHOULDN'T be responsible for. Or, if the deal falls apart, you could still be on the hook for hundreds of thousands of dollars in "damages" or contract cancelation fees!
Are you prepared for that type of loss?
Writing Your Own Offers and Contracts Gives You a Competitive Edge Over Other Investors!
If you are going to have an advantage at beating out all other investors on property deals out there, you should not have a buyer's agent submitting your offers otherwise the seller's (listing) agent will toss your offer out...usually saying that the seller rejected it. They would rather take 3% of the commission on the final purchase price than splitting it with someone else!
Otherwise, you would be telling yourself right now, "I'll give have a buyer's agent write up my contracts."
Most new investors will try to have a buyer's agent represent them when purchasing property. The problem with using a buyer's agent is that many are lazy, still won't write out the contract the way it needs to be, will command a commission split with the seller's agent, and because of this the seller's agent will toss your offer aside over any other offer WITHOUT a buyer's agent on it.
This means that if you want to stay competitive in the real estate market (during a good or bad economy) then you will ALWAYS have an advantage over ALL other investors if you are submitting your offer WITHOUT a buyer's agent because this means the seller's (listing) agent will get 100% of the commission!
Gain Access to Real Estate Purchase Contracts in All 50 States that Are Legally Compliant and that PROTECT YOU!
Since many of my students are working on property deals in different states, it's beneficial to have access to the legally proper contracts for all 50 states because you never know which state your next deal will be in.
And does it make sense to rely on the listing agent to write a contract that will be a legal win-win for everyone?
Or rely on a real estate attorney who will not only take forever to draft your contract but will charge you thousands of dollars to represent you?
Or, worse, rely on yourself to make sure you don't miss anything in your contract that won't send you up a creek without a paddle, putting your neck on the line legally and financially for a deal that you may need to walk away from?
No. None of the above makes a lick of sense because too much is on the line when you are doing any kind of commercial real estate deal to leave anything to a guessing game.
My CD-ROM of contracts includes:
All 50 states
All legally compliant with each states' current real estate laws
Makes sure all of your requirements are COVERED including having the seller pay for back taxes, liens, back utility bills, citations, fines, Mechanics' Liens, and any other encumbrances on the title
Makes sure the seller pays closing costs and other due diligence fees if you so desire them to
Makes sure you are protected legally and financially in the event that you do not want to complete the deal
All contracts are in the following formats:
And you can use these contracts for:
As a FREE BONUS...
Get ALL of My LOI/Offer Templates in Fillable PDF Form for EVERY Type of Financial Structure You'll Ever Do!
Many of my students have been asking me to provide fillable PDFs and Word documents for every "hybrid" LOI/offer form for every common type of financing structure that I teach about.
The most sought-after LOI/offer forms are:
The 80/20 Structure using 80% first-position conventional lending and 20% DPA (down payment assistance)
The 60/30/10 Structure using 60% first-position conventional lending, 30% seller-carry, and 10% DPA (down payment assistance)
The Lease-Option and 100% Owner Financing Structure
Deals where you are offering earnest money and deals where you won't be offering earnest money
Mobile home park deals with and without seller financing
LOI/offer forms where you'll need to include a PROPOSAL to "sell" the seller on partial owner financing
To be used for MHP, apartment building, and commercial-commercial deals
You'll also get these forms in:
Microsoft Word format
Fillable PDF format
This is something many of my students have been asking for and I've finally put it together to make creating your hybrid LOI/offer forms something you can whip together in 2 minutes!
And you'll be getting this extra CD-ROM as a FREE BONUS with your 50-State Contract CD-ROM. This LOI/offer package CANNOT be bought separately!
See you at the top!
P.S. You can take a payment plan on my already super affordable price!
P.P.S. Questions? Call us at (661) 295-5050.