Posted by David Alexander on June 15, 1999 at 01:06:37:
You get all the numbers agreed upon, usually verbally, or on a piece of paper, that ya’ll both can see, while siting down at the kitchen table. You don’t call it a contract, It is a purchase agreement. You get everything down in writing, what is yours with the deal, refridge, etc, etc. How the transaction is going to take place, a deposit and money later when he leaves the place clean, etc. You can still do business as this is no big deal, just don’t show up in a suit(my opinion, then again, I’m always in shorts even buying 90k houses).
If your talking about the selling side, yes whip out the contracts, make sure they understand they are buying this home and your are the company you represent(thank you Dave S.) are financing this home for them, and they need to make this payment before any other at all cost. Be nice, but be firm. You’ll have less headaches later.