Which Forms And Contracts?
Once an investor is able to find a pre-foreclosure and the homeowner is willing to sell the property, assuming there is some equity in the property, what forms or contracts must the investor carry with him in order to begin the process of buying the property? What are the steps one must follow once they are ready to work with the investor. Any assistance would be greatly appreciated as I just found a pre-foreclosure with a good amount of equity available but don't reallly know what to do next if the homeowner is willing to sell the property. Thanks!
Buy a course.
Too many questions.
Does the homeowner even want to sell?
Thanks for the reply; I was thinking of doing that but was not sure which course to choose from? Which ones would you recommend? Thank you for taking the time to reply, I really appreciate it!
Rather then get one recommendation, check the store and read the recommendations from the different folks who have already purchased.
John
[addsig]
Is the Carleton Sheets program, "No Down Payment" a good start or is there something better? I don't mind putting up the money for my rei education as long as the material is worth the $. I went to the Products and Services area but did not see much on foreclosures.
Quote:
On 2004-06-22 06:48, shakyamunni24 wrote:
did not see much on foreclosures.
Look for short sale information if you are dealing with pre-foreclosures, if you are dealing with plain court house steps foreclosures then go to Barnes and Noble and start there.
Mike(NC)
If you are going to deal in pre-foreclosures/foreclosures I think you should look into the course that John$Cash$Locke's got on this site and seriously think about investing in it.
You can spend plenty of money on courses and boot camps. I would advise you to find an area of REI that suits you, look into the many articles on this site, books are available in the library and at bookstores but they will usually not be state specific and will be general in nature, don't just find a course but find a teacher that teaches in a fashion that suits you and get educated.
Don't become a course or boot camp junkie. Take a course and then get out there and implement what you learn. I find that is the problem with many wannabe investors. They spend fortunes on courses but never get off their behind and take action. These are usually the people that will tell you, "That real estate stuff doesn't work! You just end up spending a bunch of money and get empty promises." Make sure before you spend any money that you are committed to take action. Good Luck.
Dave
[addsig]
You should go to your local stationary store (Staple's, Office Depot, etc.) and browse through their standard State real estate forms. There should be one for a real estate purchase contract as well as one for a lease agreement. Both should give you a good idea of what terms apply to your state. If it's stipulated, consider striking any "non-assignable" clauses since you want the option to sell the property if you successfully get it under contract with the current owner. Good luck!
also be aware of state laws where you're buying/selling.
If you wouldbetter from the structure of a course, do that. You can also self teach youself a lot of the net and going to sales.