Fax Contract & Mail Earnest Money???
I just got off the phone with an invester from this site.He has a property not to far from me.He said that we could fax the contracts,and then I would mail him the earnest money.How do I know this is not going to be some kind of a way for him to take the money & run .He is in a different state( Must Reach Freshman Investor status before posting URL's )I know I need to research the property(owner ,liens,comps,etc.)Any smart tips??? ">
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nullAny smart tips[ Edited by spellmaster on Date 02/04/2004 ]
Most e/m checks are made out to the title company. I am glad you are being careful. Read the contract before you sign and give money to anyone to make sure you agree to all the terms and price etc. Make sure the contract is subject to financing and you will receive the e/m back if financing or inspections fail.
Good LUCK and Thank You
Hope this helps some
Ted Jr
Thanks alot .I know I need to, first of all ,make sure the guy really owns the property.All he wants is the value of the land(8,500)It's a 3bdrm 1bthrm 1,875 sq. ft. ****Must Reach Freshman Investor status before posting URL's***HE GUY HAS NEVER SEEN.He has them all over the state ,I ****Must Reach Freshman Investor status before posting URL's***HANKS ****Must Reach Freshman Investor status before posting URL's***'m just trying to make my first deal as profitable as possible!