Real Estate Forms
I have a question for some of the more experienced Wholesalers and rehabbers concerning forms. Where does one obtain legal FSBO forms and contracts. Do I need to have an attorney print up forms or is there somewhere I can purchase FSBO forms. I have several of the free downloaded forms but I am uncertain as to the legality. Some of them seem very complex and others very simple. Any advise on which ones to use? Thanks.
if you are seeking state specific forms and contracts it may benefit you to have an attorney that practices real estate law to develop your contracts for you. The initial money you invest in this will far outwegh any costly legal problems you find yourself in at a later time because your forms and contracts are incorrect. Just my two cents. Good Luck.
Dave
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The first thing you should do is start with a written proposal. This, of course is not a contract, but having all of the negotiations written down prevents and unexpected misunderstandings in the future. Well, it doesn’t prevent them, but it makes them easier to clear.
The proposal will not only list the price, but it will also list any other features that you hope will end up on the contract. This could include the seller’s commitment to help with the down payment; of any stipulations like if, the price is contingent on a new roof.
You can easily obtain standardized forms for contracts and proposals from just about any office supply store, realtor, Title Company along with many Internet sites.
These forms also insure that the mortgage agreement and selling points are compliant with state laws. If you are buying a property in another state there may be some differences.
Of course in many instances, the realtor that is brokering the deal will handle many of these duties, but it is always best to know what you are doing.
You can find some great sources at TCI's product page at: http://www.thecreativeinvestor.com/Shopping_Cart-index.html
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