Sales Contracts, Deeds???

I'm brand new to this sight and practically brand new to investing. The only property that I have actually purchased is the home I curently live in, it was a foreclosure that I purchased 2 years ago for $179,000. It just appraised 3 months ago for $330,000.

I've been thinking about doing investing for years and now I'm ready. Well...sort of. My goal is clear...pick-up property to flip for a profit. My problem is forms. What forms do I need? I know I need a sales contract, but what is a good general contigency clause to keep me safe in case the deal goes sour?

I'd like to know what are the general forms etc... that I will need to start doing this.

Thanks in advance,
Jefff Carey

Comments(2)

  • tinman175517th February, 2004

    Jeff,
    There are many forms you will need in your life as a real estate investor. I purchased a book in 1995 called 301Legal Forms & Agreements. This book has every form I ever needed and then some. Last year I have to go on line to buy another book. I used the last one so much. Most stores will try to sell you one form at a time. I think this is the best investment I ever made.

    GOOD LUCK!!!!!!!

    Lori
    [addsig]

  • janicki118th February, 2004

    And just in case show your forms to your lawyer. You do have a lawyer, right?

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