Posted by Jim FL on September 24, 2003 at 18:08:22:
Andrew,
Sorry, must have missed this in my inbox before.
Well, after your response, it seems to me that the basic info given already is right on.
Just use a state approved contract for purchase, and add an addendum with any clauses you want in the agreement.
Use plain english, that is acceptable, or have your attny draft a nice addendum for you, with check boxes, and initial spots, where you just check off contingencies as they apply to each deal.
Other than that, I don’t really see where you have a problem needing help, just fill in the blanks.
Posted by Andrew on September 17, 2003 at 14:19:02:
Hi,
I need some help with the most basic thing: how to write up and present an offer. Do I just get the local Association of Realtors contract, fill in the blanks, add any necessary addenda and submit it? All of the articles have stuff on advanced topics, but I have my strategy, my funding sources, and what I believe is a good niche in the market. Just need help on the basic now! BTW there are no realtors involved, just myself and the sellers.
Posted by Jim FL on September 17, 2003 at 18:50:06:
Andrew,
I think Brent had a good response, and would ignore the other one, seemed to be a possible sales pitch.
I’ll toss in my two cents, and you can keep the change.
Honestly, to give you a good thorough answer, we’d need to know more about what you are doing?
You said you have your strategy, and funding sources, but that does not tell us a whole lot.
Are you buying wholesale and selling wholesale, rehabs, retail flips?
What?
Either way, sure, you can use a standard RE brokers contract, and add addenda specific to your deal and its terms.
We might even be able to give you pointers on some good things to have in there, if we knew more about what you have in mind?
So, tell us some details, and get FREE info right here, on this very website.
Take care, and good luck, writing offers is easy, once you fully understand the terms needed, to accomplish your end goal.
Posted by Brent_IL on September 17, 2003 at 15:21:41:
You have the basic idea down. The part that requires knowledge is knowing what to write in the addenda and how to fill in the blanks. Write up the offer and give it to a seller, or give it to the seller in the presence of his or her RE agent.
Posted by Andrew on September 18, 2003 at 09:02:47:
I am going to be doing rehabs, and then flipping them. The properties I am looking at are from a wholesaler, who owns them (not a bird dog who just has an accepted purchase agreement). They are not listed on the MLS, hence no realtors. They are being sold in ‘as-is’ condition, of course, since they are pre-rehab. I would have an inspection clause in there. I will be buying using hard money. I am in Michigan BTW.