Forms for L/O - Posted by Pru

Real Estate Investing
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Posted by Terry (Dallas) on May 07, 2000 at 24:30:45:

I said you were a very straight shooting individual when I realized what the seller had informed you and your actions speak louder than words so I thank you.

I think what Joe is asking is in your statement you say in Texas the SELLER has 7 days from signing the contract after he submits his disclosures to terminate the deal. Did you mean the BUYER has 7 days?
Thanks again!
Terry

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Forms for L/O - Posted by Pru

Posted by Pru on May 05, 2000 at 08:18:47:

Help what federal forms do I need for a L/O. Lead paint, I know about. Do I need to do a disclosure form at this time, or do we wait till buyers sign a offer to purchase. Anything else I need to know. Hey Ed Copp what part of Ohio are you from?

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Re: Forms for L/O - Posted by Soraya

Posted by Soraya on May 05, 2000 at 12:00:06:

Invest in Wm. Bronchick’s course in Lease Options. Follow his advise and you will stay out of court. He has several “Cover your Rear End” disclosures that are not mandated by law but will save thousands in legal fees if your Tenant Buyer (Optionee) can’t exercise his option and wants his option money back or defaults in some way and claims an equitable interest in the property and therefore tries to force you to foreclose on him rather than evict him as you would a tenant. (Foreclosure takes a lot longer to effectuate than an eviction.)

Soraya

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Re: Forms for L/O - Posted by Bud Branstetter

Posted by Bud Branstetter on May 05, 2000 at 11:39:11:

Even when you rent you are supposed to do the lead paint form on property built before 1978. As one local attorney said here get it done now. Disclosure, lead paint or any other form needed. In Texas a seller has seven days to back out of a contract after signing the property condition disclosure form. Wait till the option period is almost up before disclosing then have a buyer negate the L/O contract and want his option money back.

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Re: Forms for L/O - Posted by Ed Copp (OH)

Posted by Ed Copp (OH) on May 05, 2000 at 09:37:04:

Vinton, County…ED

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Re: Forms for L/O - Posted by JoeKaiser

Posted by JoeKaiser on May 05, 2000 at 17:52:36:

Bud, say that again?

Joe

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Re: Forms for L/O - Posted by Bud Branstetter

Posted by Bud Branstetter on May 06, 2000 at 15:41:36:

You’re going to have to be more specific if you are questioning one of the statements.

I commend you for the class to have Terry call before the guy in Greenville changed his mind.