Posted by JohnBoy on December 04, 2000 at 20:00:28:
Bill Bronchicks Course comes with everything on disk so all you need to do is fill in the blanks.
His course that has EVERYTHING is at:
http://www.creonline.com/c-131.htm
You might find samples on his web site at:
But I think you might have to retype the ones on his site also.
Real Estate Contracts - Posted by Eric P. Martin
Posted by Eric P. Martin on December 04, 2000 at 13:01:16:
I bought the Ron LeGrand course, and I will be focusing on
the wholesaling business. Where exactly do I find contracts
for my state (Illinois)? And, will they work fine with the wholesaling business? Is there somewhere that I can get them online to download?
Thanks in advance,
Eric
Re: Real Estate Contracts - Posted by Rob FL
Posted by Rob FL on December 05, 2000 at 09:14:50:
I recommend using your local board of Realtors’ contracts and using a simple 1 page addendum to make any changes that you deem necessary.
Why do I recommend this? A couple of reasons.
Unless you are simply dealing with someone who will sign the contract without wanting to read it, most people get hesitant about some strange contract form. (Even motivated sellers get hesitant if they think you might be trying to pull a fast one on them.) If the property is listed with a Realtor, like a bank REO, excpect heavy resistance to non-standard forms. Also you will have lots a fun trying to explain what your contract says to the title company representative. On top of that, your Realtor’s contract probably has standard addenda for condos, “as is”, backup offers, etc. and you don’t want to have to re-invent all those too.
Every state and locality has different laws regarding real estate, disclosures, agency, liability, etc. so you need to make sure your contract covers these details. Your standard Realtor contract has probably been reviewed for these legalities by a hundred different lawyers already. I doubt Ron Legrand’s or Carleton Sheets’s contracts have been reviewed by more than 1 or 2 lawyers, and I am sure their lawyers didn’t design the contract to meet the specific laws of all 50 states. On top of that, every year the laws have the potential of being changed. The Realtor’s contract will get changed accordingly to reflect this.
You can use the Realtor contract and have different addenda for different situations. I have different addenda depending on if I am buying, selling, optioning, taking over payments, etc. If you type your addenda in the correct fonts and typesets, most Realtors will pass it off as a standard addenda and not even question it. If you want some details on how I do my own personal addenda, let me know.
Best wishes.
Re: Real Estate Contracts - Posted by Rookie(Nv)
Posted by Rookie(Nv) on December 04, 2000 at 22:11:33:
To be safe, take Ron Legrand’s contract to your local real estate attorney, have him make any necessary changes and use that. Keep the simplicity of the Legrand contract and let the lawyer keep it legal in your state.
Re: Real Estate Contracts - Posted by JohnBoy
Posted by JohnBoy on December 04, 2000 at 15:56:33:
Didn’t LeGrand’s course include contracts for you to use?
It’s Legal! - Posted by Rob
Posted by Rob on December 04, 2000 at 22:14:04:
It’s Legal! (Just use it) and quit over analyzing!
Re: Real Estate Contracts - Posted by Eric P. Martin
Posted by Eric P. Martin on December 04, 2000 at 19:25:55:
The contracts that are included are example contracts.
What I’m seeking is contracts that are software based
that I just print out rather than typing the contracts
over in the computer.
Re: It’s Legal! - Posted by Rob FL
Posted by Rob FL on December 05, 2000 at 09:21:10:
Are you sure that it covers all the legalities of all 50 states including any recent law changes and court decisions?
Oh your probably right. Let’s just take it on faith that it meets the Florida radon gas disclosure laws, the fair housing laws of Idaho, and the recent Supreme Court decision in Arizona. I mean after all the contract was only written last year by some hot shot New York real estate lawyer.
Re: Real Estate Contracts - Posted by Brent_IL
Posted by Brent_IL on December 05, 2000 at 12:55:52:
Just a personal opinion, but I’ve found that many people are reluctant to sign computer-generated contracts unless their lawyer first reviews them. Most people are aware that with the right fonts anything is printable. RE agents will also balk because the forms supplied by their office or local boards are multi-part carbon or NCR. Lots of “What does this mean?” questions.
I?ve had success with four-part NCR paper. When I used five-part, the hand-written items wouldn?t always show up, and I press hard. Multi-part carbon would be impressive, but are expensive and are usually ordered in large (10,000) quantities to keep costs down.
Another reason I like contracts that are not completely printed, or ready for signature, is that when the sellers contact their attorney after the fact, it is hard for him to make a case that his clients didn?t understand the agreement and the contract is unconscionable. The many blanks filled in by hand show that some sort of negotiation and acceptance was going on.