Jerry,
It depends on your area, for example when I lived in florida lawyers were not needed, you could use one if you wanted but you didn’t have to, so you could use a contract to purchase (which you could buy at a local OfficeDepot), Now I live in NY were you must use a lawyer in which case you can use anything because once the seller signes it the attorneys just rewrite it anyhow. I use a letter of intent (just a one page document that lists the address, names, terms etc…) after both myself and the seller signs it I give it to an attorney who will draw up an official contract for us to sign based on the temrs of the LOI. Good Luck.
Posted by Jerry Kinard on May 12, 2000 at 10:29:10:
This is my first time posting a message on this board and I am very new to real estate investment. My partner and I have been reading almost everything on this website and have found it to be very helpful. After reading one of Ron LeGrand’s article we are convinced that wholesaling is the we want to ge into the ball game. What we are considering is buying bargain properties and flip them as soon as we can. As Ron said we are open to buying and flipping “pretty” as well as “ugly” ones. We plan to get lists from banks on houses that are in foreclosure and check the newspaper for ads in hope of finding motivated sellers. What I would like to know is once we find the the seller how do we go about making an offer to him. Is there some sort of document like a buyers offer that we give to him to begin the negotiation process. If so, could some one tell me what a buyers offer is and where could I get a copy? Help?