Have contract w/or assigns with seller now what?
Property is under contract for 133k. I believe it will apraise for 150k although it needs about 700 bucks in yard work to insure that number. I wish to not own but find another person to own this one. Should I fix the yardwork, or find buyer as is? Also , how do I assign the contract to the new owner? At closing? And finally how do I propose to the current owner to let me show this property to prospective buyers? The seller agrees in the contract to sell to me or assigns , and is good for 78 more days. I believe a buyer can be had in the 145k range very quickly. By the way as you can probably tell I am new but working very hard to learn.
Quote:
On 2003-06-12 00:55, paulmcconnon wrote:
Property is under contract for 133k. I believe it will apraise for 150k although it needs about 700 bucks in yard work to insure that number. I wish to not own but find another person to own this one. Should I fix the yardwork, or find buyer as is? Also , how do I assign the contract to the new owner? At closing? And finally how do I propose to the current owner to let me show this property to prospective buyers? The seller agrees in the contract to sell to me or assigns , and is good for 78 more days. I believe a buyer can be had in the 145k range very quickly. By the way as you can probably tell I am new but working very hard to learn.
Hi, First of, let the seller know you are a investor and he will know you are in this for short term or long term. You could state in your in your contract Under:
PROVISIONS: See attached Addendum.
"RIGHT TO SHOW: Buyer shall have the right to show the property in its entirety at any time to partner(s) or prospective tenant(s), provided Buyer provides Seller with twenty-four hours notice.
Hope this helps. But also consult with a attorney.