Contracts
Hello REIs,
What is the difference between an Equity Purchase Agreement and a Contract to Purchase? I think they are the same thing, but am not sure.
Also, when I flip the property to the investor, I will probably need some type of contract. I am not sure what the name of this contract is. Can you guys tell me?
Thanks, 
Visualized
P.S.
Any other helpful contract tips or comments are appreciated.
"What is the difference between an Equity Purchase Agreement and a Contract to Purchase?"
An Equity Purchase Agreement is where you are agreeing to pay the seller for his equity. When the buyer takes title, it is subject to any leins on the property.
A Contract to Purchase is where you are purchasing the property for a price that both you and the seller agreed upon. At closing, all leins on the property is paid off.
Also, when I flip the property to the investor, I will probably need some type of contract. I am not sure what the name of this contract is. Can you guys tell me?
I do not flip properties, so I am not quite sure which contract to use. But, I think you can use a standard Contract to Purchase or Options to Purchase as long as you write "and/or assigns" after your name as the buyer.
Tanya
Thanks Tanya !