Which Contracts to use to make offers? - Posted by Rob

Posted by Rick(KCMO) on July 05, 1999 at 22:25:43:

Leslie,

Do you have an electronic copy that you would forward to me? Thanks in advance.

Rick

Which Contracts to use to make offers? - Posted by Rob

Posted by Rob on July 04, 1999 at 09:26:06:

I am just starting out and a newbie to creative REI.
I live in California and would like to know which contracts would one use if they are making an offer? A standard contract form from the realtors, or your own personal contracts? Where can I get the different one?

What are your favorite subject to and weasel causes?
Offer prices that you like to offer? Around 60- 65%?
How fast are your closing? Best way to close the deal?
Carry a Quitclaim deed, or a deed with you all the time?

Thanks
Rob

Re: Which Contracts to use to make offers? - Posted by Maurice (Ca)

Posted by Maurice (Ca) on July 06, 1999 at 11:09:38:

I use the standard CAR form…and I don’t add any addendums, but I like Rob’s elaboration on the inspection contingency. Since I put in a lot of offers & my market is very hot & competitive, I’d rather not put any flags on my offer(s)…

As far as the offer price…I like Ron Legrand’s formula (M.A.O. or maximum allowable offer minus repairs)…I also will actually do a long formula, i.e. holding costs, points & costs of hard money loan, marketing, etc…just to cross-reference (since I’m still new).

I mainly only deal in fixers to wholesale, so your closing is based on how fast your buyers/investors/rehabbers can close.

Hope this helps…from one newbie to another.

Re: Which Contracts to use to make offers? - Posted by Rob FL

Posted by Rob FL on July 05, 1999 at 11:18:34:

I use the standard realtors contract with my own addendum. The only “weasel” clause, if you call it that, I use is subject to an inspection. This clause is always in the standard realtors contract. My addendum elaborates a little on this and says that I can get out of the deal if for any reason in my sole judgment it does not pass inspection.

I am sorry, what does CAR stand for? (nt) - Posted by Joseph Turner

Posted by Joseph Turner on July 07, 1999 at 14:20:19:

nt

I use a one pager and let 'em counter - Posted by leslie

Posted by leslie on July 05, 1999 at 20:20:38:

the standard “CAR” contract is soooo long. i use a one page from proff publishing in san rafel. most will just accept it. only a few counter and ask for the standard car form. i say ok if deal still sounds good, if its also asking for retail, on to the next. i make lots of offers and like a one page, even beter when the basics are filled in ahead of time, “my name or assigns”, address, phone, inspection clause etc. and kept in my beiefcase ready to go. subject to my inspection and written approval is all you need to get out.
please note my e-mail adress.

Calif. Association of Realtors - Posted by Maurice (Ca)

Posted by Maurice (Ca) on July 07, 1999 at 15:22:36:

.