Posts Tagged ‘ Property ’
Although a cashier’s check will likely not disappear, you still have to come up with cash to get one. Many people in the real estate investment business use a personal check or business check as the form of consideration accompanying their purchase contracts.
It is not worth the aggravation spending the time to educate a real estate agent on why you should use your contract. Just make sure everything you want in the contract is communicated by whatever purchase contract you use.
The complete name for this contract is actually purchase contract for real estate and deposit receipt. This is the contract that contains the terms and conditions to which you and the seller agree when the seller accepts your offer to purchase the property.
A motivated seller is also flexible. A flexible seller is a seller you can make a wholesale deal with. Motivated sellers come in all shapes and sizes. A motivated seller may be motivated to take a lower price for the property. A motivated seller may carry back financing to make the deal work. A motivated seller may just give you the deed to their property and walk away.
The property that required a 20 percent down payment out of your pocket or the one that required nothing out of your pocket? 11. 100 Percent Financing A variation of nothing down is 100 percent financing.
We have flipped many properties to other investors who wanted rental units. They did not want to have to qualify for a loan from a traditional lender. Once we had negotiated a contract where the seller agreed to act as the lender for the transaction, there was a simple matter of finding an investor who wanted to take advantage of a typically lower interest rate than was available from a bank.
We flipped the property for $265,000 within 10 days to a real estate investor who was going to buy the property, add to it, and sell it for $425,000 to $450,000. 8. Death “Death forces sale.” This was the heading of a classified ad we read one morning in our local newspaper.
