Unimproved Property Contract Question
I want to see if the owners of a parcel of raw land would be willing to sell it. I am going to send them a letter and a contract for a fair purchase amount.
I read in a book once that a good idea is to attach a check for the down payment to the contract to help intice them to sell. If they sign the contract they can cash the check.
My question is how do you set up the contract so that they dont just cash the check and not sign the contract.
I have contacted people regarding selling their property before and have been very successful. I have just never tried the attached check idea.
Any ideas or help?
Thanks Shredman
Wouldn't it be easier and faster to just contact sellers directly and arrange for an appointment to discuss a possible purchase?
I do not like the idea of the attached check. If you want to impress them, go for a short closing with no contingencies, go hard early in the deal, and put up a large deposit upon execution of the contract.
_________________
Gregg Fous
Investor/Developer
"Developers Make it Happen"[ Edited by GFous on Date 12/13/2003 ]
I heard of one guy here in Austin that would send a cashiers check for the full purchase price with his lowball offer to banks. I am sure that got their attention. If you want to send a check, make it out to the title company. Never give a seller money untill the title committment shows that they own it and no unknown problems with the title. Otherwise would just be plain foolish.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr