The Proper Forms - Posted by Colleen

Real Estate Investing
1

Posted by Colleen on February 05, 2000 at 22:33:14:

Thanks Guys! You’re a great help.
Colleen

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The Proper Forms - Posted by Colleen

Posted by Colleen on February 05, 2000 at 17:52:35:

Where can I obtain the best form to use when buying real-estate from a fsbo? and can I use that same form for taking title “subject to”?
Please help me clear this up! I’ve heard so many answers I don’t know where to turn. I was directed to this site by a friend of mine. She says it is fantastic! and has helped her in her journey through real estate over the months and years. Well here I am just starting out and coming to where she said I can learn a bunch. OK Group, answer away!

Colleen

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Re: Forms & SubjectTo Contract - Posted by JoeB(Atlanta)

Posted by JoeB(Atlanta) on February 05, 2000 at 20:36:58:

Bronchick’s site www.legalwiz.com has lots of good forms for creative R.E.

And yes you can use the same Contract for most any deal–including ‘subject-to’, just write in for purchase price:

“$100,000 paid as follows: ‘subject-to’ the 1st mortgage with Acme Lending of approx $75,000 balance at $620/mo piti, loan #2313231, with remaining $25,000 equity paid in cash at closing.”

You may also want the Seller to sign a CYA document that you type, explaining that you’re taking over their loan/pmts but loan stays in their name until you refi…etc…etc.

Hope this helps,
Joe Brillante

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Re: The Proper Forms - Posted by Chris

Posted by Chris on February 05, 2000 at 18:09:14:

Colleen-

For safety’s sake you may want to pick up your local Realtor’s association purchase contract and modify it with an Addendum. Look in the contract for subject to clauses. If there is not one place that in the Addendum.

http://www.creonline.com/articl86.htm

-Chris