Posted by Russ Sims on March 11, 2003 at 11:51:02:
A fill-in-the-blanks form works well. That way it looks like a “standard” form that everyone uses, and it allows you to be flexible in case last minute negotiations require revisions. Both parties should initial every page that doesn’t call for a signature. Changes should be initialed and it should be notarized so that you can record the contract with the county. Once recorded, the contract clouds the title to help prevent the owner from selling to someone else.
When going to a seller’s house to make an offer, many books describe writing up the contract right then. My question is, should I hand write the contract or have pre-printed forms with blanks for names, amounts, etc…? Or should I type something up completely and bring it back to them. Also, how does the contract writing part work? Do you need to initial changes, have it notarized, etc…???
Thanks