"NOW" or "LATER"? - Posted by Jim

Posted by Lazaro on March 17, 2001 at 19:03:13:

Yes, your are reading the contract correctly. I don’t think it is good to stay with the seller until he signs it. On the other hand I do believe that you should only give the seller 24 hours to accept. Most people give a 24 hours acceptance period. That in my opinion is a safe time for the buyer. It will be hard to get a better offer within 24 hours. You should not pressure the seller so much that he knows that you are getting a good deal. 24 hours is a common time period. Hope that helps.

“NOW” or “LATER”? - Posted by Jim

Posted by Jim on March 17, 2001 at 15:07:27:

I’m somewhat confused.

Some of the writers of Real Estate Investing material out there will suggest that you get that deal signed up on the spot when you visit the property, while others suggest that you “take the pressure off” and give them some time to decide.

LeGrand, for instance says that he will never leave a filled out agreement with the seller, because he don’t want the seller to shop the offer or to have it scrutenized by their brother in law etc. He also says that he won’t even attemt to fill out a purchase & sale agreement unless he’s sure they want to sign the thing!

Now in paragraph #17 of his agreement allows a time frame for acceptance of the offer! (This kind of goes against what he actually says) am I reading this incorrectly?

So what’s the right way to go at this?