Have A Few Leads...now What??
Hello....
Thanks to an ad I placed in a local penny saver, I got a call in 2 days from 2 sellers wanting to get rid of their properties. One seller has 1 multi-family home wanting to sell, and the other has 2 properties that he wants to show me. I made arrangements to look at them tonite; one at 6 the other at 7:30. My question is: If these sellers want to move fast in selling their properties, how can I make this happen? I have worked with a realtor before, and it seems that process takes forever. Can I just get forms and ink the deal myself? I just want to be sure I make all the right moves and go through the proepr steps. What are all the forms i will need to complete the sale?
Help is needed??
Thanks
Chris G
It sounds like you are completely new to the process. Have you read any books, etc?
You need to do your homework when you check the property.
If you think there is a deal then you write it up (earnest money agreement). You can get one from a realtor or one from a stationery store. You need to understand what it says and what it means. In addition I would expect so special terms and conditions that you would write into the agreement as protection for yourself and which is specific to the deal.
I am a little concerned that even if you had the right form you would still have problems.
A little analogy... If you put a weapon into the hands of someone who does not understand what is possible you are asking for trouble.
Either you have more experience or you really need to watch out.
John
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Thanks John..
I am still kinda new to the biz. I have looked at a handful of properties and was even close to ink one awhile back , before things fell apart (situation was beyond my control...sellers end).
I will probably have to get the realtor I work with to help me with these deals til I get better at writing up agreements myself. I just don't want something potentialy good to get away simply cause the process is slow.
What book would you suggest I get to help me get better acquainted with inking deals and completing all the steps of the buying process (and not a book on an investing technique..I have been through plenty of those)? I feel that may be where I am lacking knowledge.
Thanks again...
Chris[ Edited by sharpREI_PA on Date 05/25/2004 ]
Chris,
Isn't the penney saver great!!!! I get between 150 and 250 calls a week. I put my add in many areas. I use a book called 301 Legal Forms & Agreements. It has everything you need to put whatever you need in ink. You will have to purchase it at Amazon. But I have been using it for about 9 or ten years.
GOOD LUCK!!!!!!!!!!!
Lori
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Thanks Lori...
Yes...i am glad I decided to go with an ad. I have been putting it off for awhile now, but finally got off my duff and placed an ad. I placed the ad for 2 weeks, so I may still see more results.
Hopefully my first deal is right around the corner!
I will also check out getting that book.
Thanks!!
Chris G
OOPS - I "fouled up" - submitted post too early!
Hi again Lori,
When you say pennysaver, do you mean the Greensheet or Thrifty Nickel or...??
Also, do you mind sharing a successful ad of yours?
Finally, the 301 Legal Forms book - do these forms still have to be certified state specific by an attorney?
Thanks and Much $uccess to you!
Vinny
Here is an ad I use for retailing
Why rent? 2-5 Bedroom homes in your area. Call Lori at ***-***-****
I only put the ad in areas where I actually have signed option contracts or I own the property.
Lori
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