What Agreement Form To Use?
I have been surfing some websites in search for contract forms to purchase homes from owners during pre-foreclosures, but there are so many forms my head is spinning. Can anyone let me know what form I need: Contract of Sale, Promissory Note, Contract for Deed, etc.?
I just purchase a home using a couple of FREE Downloadable contracts from www.totalrealestatesolutions.com
Thank Show,
I printed several copies but I am not which one to use: · Buyers Purchase Agreement
· Contract Assignment
· Land Contract for Buying
· Land Contract for Seller
· Contract To Purchase (Long Form)
· Sellers Sales Agreement
· Affidavit and Memorandum of Agreement for Purchase and Sale
I would like to know which one I have the owner of the pre-foreclosure sign.
Do I have to notarize the agreement?
And can I use these forms in Texas?[ Edited by EddiePicasso on Date 10/12/2004 ]
I'd consider hiring a local, reputable and experienced RE Agent or Broker to be your consultant on this.
He/she is familiar with TX RE laws, and TX forms and probably has them in office, on hand.
As you may or may not know, TX has fairly recently enacted very sweeping REC statute, to protect the buyer who used to be taken advantage of, pretty unmercifully in TX.
The agent will be familiar with that TX law and his forms will be compliant with it.
Next, I'd try to get the Deed. Right now. Not later, etc.
And if you do this, again, I'd hire that agent or broker to be your consultant so you don't tread on some TX statute you don't even know about.
I'd think you'd want to be buying it "Subject To" without assuming any of the current debt and this is a tricky legal area that you sure want to do absolutely right, with no screwups and why you need somebody who's done some TX subtos.
John Locke has done a ton of these around the country and he might have done some TX deals, or know somebody he could recommend in your area to work with you.
Good luck.
John Merchant
Thanks John,
How Can I get a hold of JohnLocke. Do I have to send him a personal message or since he is a Moderator will he see this post?