The Beginning Real Estate Investor Basic Training Course
The Beginning Real Estate Investor Basic Training Course
The Beginning Real Estate Investor Basic Training Course
Timothy McKierney
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Introduction………………………………………….7
Find a Property……………………………………….15
Lead Sheet……………………………………………28
List a Property……………………………………….31
NCND……………………………………………….41
Resources 1…………………………………………..46
Wholesaling………………………………………….49
Finding Sellers………………………………………64
Contracts……………………………………………..86
Resources – Videos…….…………………………..109
Resources – Books……………………………….....116
Business Card……………………………………..143
Buyer Script……………………………………….145
California Information…………………………….147
Commission Agreement…………………………..150
Disclosure Agreement…………………………….151
Land Contract…………………………………….153
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Probate Letter………………………………………166
Realtor Script………………………………………..190
Resources Books…………………………………….193
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INTRODUCTION
You will learn all of that in this course. And you don’t need
a website. All you need to succeed is a cell phone and
internet connectivity.
You may think there’s a lot to learn but don’t worry, we’ll
take it step by step and learn it one piece at a time so that
by the end of this course, you will be a true real estate
investor. As you go through this program, you may
discover many things you do know, you just haven’t
applied them to real estate. Take notes, study and apply
your knowledge as soon as you can. I recommend doing at
least one thing a day, beginning today.
Fix and Flip requires that you are able to evaluate the costs
of repairing and upgrading the property accurately (within a
range) and that you have the cash set aside to repair the
property and then that you have the cash set aside to hold
the property until it sells. Some investors use this strategy
exclusively and have made millions using Fix and Flip.
1. Find a property
2. List the property
3. Sell the property
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Let’s take each step one by one and explore what you’ll be
getting into.
Find a Property
A few tips:
Your office: You don’t need one. Use your bedroom, the
local McDonald’s, a spare room, closet, the garage,
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There are two axioms in real estate investing that you may
have heard:
“Cash is King.”
You make your money when you buy a property, not when
you sell it. Ok. This may be new to you and a little difficult
to understand. Proper real estate investing is when you buy
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FIND A PROPERTY
Wholesaling (Flipping)
FINDER’S FEE
Lead Sheet
List a Property
NCND
Resources
FIND A PROPERTY
Hud.gov
Other Wholesalers
There are other investors in your area that are selling homes
at discount prices. Find them and offer to help sell their
homes for them. Who is going to say “No”?
Bandit Signs
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Flyers
Create a flyer saying you buy properties cash and then hand
them out all over the place or get someone to hand them out
for you. Not real effective, but you get some inquiries this
way.
Business Cards
Craigslist Ad
Backpage Ad
Hud.gov
https://www.hudhomestore.com
http://express.realquest.com
http://www.zillow.com
If the home you need to get a figure for does not show up
on the map, just go up to the address of the property, go to
the end of the address and click. A small panel or field
should show up on the map with the home on it.
Beneath the map and above the list of recent sales there is a
group of tabs. One of these reads “Sold On,” and has a
down arrow below it. Click on the down arrow a couple of
times. You want to have the sales in descending order with
the most recent sales at the top.
I use Excel, but you can use any spreadsheet you prefer for
the next step. Type in the sales price of each home from
Zillow and sum them. Then get the average. This is the
estimated market value of the home and may be a more
reliable figure than the ARV, but you need them both.
Home cost:
HUD ID #:
State:
Description:
Inspection Report
HVAC
Appliances
Plumbing
Water heater
Septic
Roof
Electrical
ARV per Realquest:
ARV per eppraisal.com:
ARV per Zillow:
ARV Average:
Comps:
Flyers
On a 8x10 or 8.5x11 sheet of paper write the information
you would for your bandit signs, then hand these out
everywhere. Don’t put these into mailboxes, that’s illegal.
You can stuff them into the crack of a door, underneath the
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Business cards
Get your business cards from Vistaprint.com or some other
source. Hand these out everywhere, post to community
bulletin boards and leave wherever you can. Some shops
and stores allow local residents to leave a small number of
business cards on the counter or elsewhere in the store.
Some investors use fluorescent yellow or green cards so
they will stand out from all the other business cards.
Craigslist ad
I’ve had some of my best results in getting buyers from a
Craigslist ad, but for sellers, not so much. Give it a try and
see if it works for you.
Backpage ad
Same as Craigslist ad, try and if it works great, if it doesn’t,
you haven’t lost anything except a few minutes of time.
LEAD SHEET
LEAD SHEET
Square footage –
Repairs needed –
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Loan balance -
Asking price –
30
LIST A PROPERTY
Craigslist ad
Local agents
You can also contact local real estate agents. Many may
want to work with you to help you sell your property. They
can sometimes be an impediment but often they can help.
Try this avenue if you want to give it a try.
Classified ads
Website
Groups
Join several online real estate groups. You can find these at
Yahoo.com and Linkedin.com If you search you will find
others you may want to join. Usually I recommend waiting
a week or two after joining before listing a property, but
use your own best judgment.
Listing a property
equitypropertydeals.com
postlets.com
sellmyhousefast.org
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myhousedeals.com/property/create/
postyouradvert.com
sellpoint.com
OVERVIEW
Percentage Method
I don’t use the Set Fee method because I don’t feel I have
to. The properties have a certain value in the marketplace.
By charging a set fee, I may upset that perceived value
making the property more difficult to sell. By charging a
percentage, I may not always get much, but the perceived
market value of the home is not skewed out of place.
Use whatever method you feel will work best for you. Next
we will take a look at the different parts of the Finder’s Fee
Agreement.
Finally are the signature and dates section which make this
a legal document, binding on all parties.
click on your state and fill in your city or zip and make note
of the available brokers. If there isn’t any or if no one
accepts your offer, widen your search by including
neighboring zip codes, cities or states.
Follow-Up
Recourse
Why California?
Next Steps
(name)______________________________________________
_”or assigns” (the Recipient).
1. CONFIDENTIAL INFORMATION
2. PROPERTIES PURCHASED
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3. NON-CIRCUMVENTION
4. GENERAL
Representative:____________________Signature:_________
_____________________________
Address _
Address_________________________________
City, State_________________________Zip__________
Email_______________________________________
Office/Cell___________________________________
Date____________________________________________,
Recipient:
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Company
Name_______________________________________________,
Individual
Name______________________________________________,
Authorized
Signature___________________________________________ ,
Date_________________________________,
Address_____________________________________________,
Address_____________________________________________,
Phone______________________________________________,
Email_______________________________________________,
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Resources
http://www.reiclub.com/real-estate-articles.php
http://www.reiclub.com/realestateinvestingvideos.php
Connectedinvestors.com
Freerealestatenetworking.ning.com
Invesdoor.com
Equitypropertydeals.com
Postlets.com
Sellmyhousefast.org
Myhousedeals.com
Postmyadvert.com
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Craigslist.org
Backpage.com
Sellpoint.com
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1. Wholesaling
2. Investor Profile
3. Discussion
4. Agents and Properties
5. Contracts
WHOLESALING
WHOLESALING
Financing
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I know that seems like a lot to learn and it is, but you
probably already know more than you think you do.
AN OVERVIEW OF WHOLESALING
The investor had the best of all worlds. He or she was able
to buy a property using no cash of their own except for the
deposit, sell the property and have the buyer pay for the
costs associated with the closing (This is called a “net”
closing). The investor saw only profit. Transactional
funding lenders also made off very well. Buyers also did
well – they purchased a decent home for a price they could
afford - and perhaps it was the banks that fared the worst.
Your best source may remain the HUD site. Here you may
find many homes that need more work than an investor
may want to consider, but you will also find many homes
that will work for you. If you can’t find homes on the HUD
site in your area, there is no reason you can’t go out of state
(on the HUD site) and buy and sell homes in other states
using virtual methods. You attract buyers with Craigslist
ads and work the deal the same way you would as with the
Finder’s Fee method.
EVALUATING A PROPERTY
Handyman Special
3/2 available
call xxx-xxx-xxx
Of course, fill in the 'x's with your phone number or the 800
number of your business or service.
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Another ad is
Wholesale Houses!
Cheap
xxx-xxx-xxxx
Use the same ads on Bandit signs and place them wherever
you do business. If you want to do business in a distant
city, put an ad on Craigslist to hire someone to place bandit
signs offering
to pay them $25 or $50 to put up some bandit signs. To
confirm they have put up the bandit signs, have them take a
photo of each bandit sign they put up in both a close-up - so
you can see what is written - and a wide shot so you can see
were the sign is. Also, place the same ad on Craigslist as
you did with your own city. Get a bunch of bandit signs -
25 to 50, write your ad on them, put your 800 number on it
and then mail them to the person who will be putting up
your signs. Use yellow bandit signs and write on them with
a black sharpie. Whenever someone calls about a sign use
the following script. Freebanditsigns.com is a good place to
get bandit signs.
Thanks.
(Do not say anymore than this because you don't currently
have a home, or if you do, you may not have a home that
meets their criteria)
Well, I'm out of inventory right now (If you are or if you
have something that meets the criteria, then describe your
property and then continue) but I have property coming in
all the time. If I can get some basic information from you I
will give you a call (or send an email if you don't like
calling) when I get something that meets your
requirements.
What kind of property are you interested in? 2/1, 3/2, 4/2?
Finish with:
Cap Rate
If the cap rate is too low, that's a negotiating point and you
may be able to get the seller to reduce the price to a value
that makes sense for you.
When you have the Investor Profile sheet filled out for your
buyer, your next move is to start looking for property that
meets their criteria.
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FINDING SELLERS
Networking
Business Cards
Hand these out and leave them everywhere you can. You
may want to set a goal of how many cards to hand out each
day; if you do, stick with it religiously. As you hand out
cards, give a little background about what you are doing
and why you are handing out your card to a perfect
stranger. They may want to buy a house from you, know
someone looking to buy or have a home to sell or know
someone who has a discount home for sale.
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Classified Ads
Social Media
Inline Ads
Online Groups
There are many online real estate groups out there. Join
them and get active; these could be a very good source of
leads for you, both for sellers and buyers. Linkedin.com is
a good site to find groups that suit your interest. You can
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Mailers
“There’s an app for that!” Yes there is, or if there isn’t, you
can have one made. Apps and mobile marketing may be the
wave of the future. We are right at the beginning of this
form of marketing right now, and my guess is that it will
grow significantly in the months and years ahead. How you
will use this medium I will have to leave up to you because
this avenue is still too new for anyone to know exactly
what is or what isn’t effective. You will need to find a
mobile marketing specialist or service and ask them what
they offer and how what they have may help you with your
business.
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PR
Big Media
Create a Class
Once you have some sales and experience under your belt,
you could create a class, seminar or talk. Go to your local
community college, tech school or high school and offer to
talk about your experience as a real estate investor. If you
have a lot of experience, create a class offering your
insights and the wisdom from your experience – worked for
me – (you’re reading this right?)
Other
what they all are, nor do I use them, the above work for me
and I find it is pretty much all I need.
SUMMARY
FIRST NAME__________________________LAST
NAME____________________________
ADDRESS________________________________________________
______________________________________________________
CITY_________________________________STATE_____________
____ZIP_____________
OFFICE PHONE__________________________________________
HOME PHONE___________________________________________
CELL PHONE____________________________________________
FAX____________________________________________________
EMAIL__________________________________________________
PRICE RANGE________________________
1 FAMILY_____DUPLEX________2 – 4
UNIT______COMMERCIAL_________
NOTES___________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
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_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
______________________________________________________
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Lead Sheet
Fill out the seller contact info, address of the property and
how you heard about this property.
Taxes due and liens are important to know. If there are any
back taxes due or if there are any liens against the property,
the property cannot be legally bought or sold without
resolving these issues first.
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The loan balance is how you gain leverage. If low, you may
be able to negotiate the property purchase for a lower price.
If the balance is high, you may be able to extend the terms
or have the seller take back some of the financing “seller
financing.”
You achieve this leverage with the next question; “Will you
take what is owed?” If they are highly motivated to sell,
this answer will often be “Yes,” but if they are not highly
motivated you may hear “No’s” more often than you hear
“Yes’s.”
after they have been talking to you for a while about their
home.
This gets the seller thinking you can close quickly and put
cash in their hand quickly – money in hand is always a
great motivator, “Cash is king”.
you get the property or they may say “Go ahead and void
the check.” If you don’t get the property, don’t despair,
they are still a lot more around.
Phone Voice
Investor Profile
As you talk to your investors, you will find that some are
more interested in one thing while others are more
interested in something else – and neither is indicated in the
Investor Profile. Just go ahead and write in whatever notes
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Agents
The world of real estate agents and real estate investors are
two distinct worlds with very little overlap.
You are looking for an agent you can work with. That will
vary based on the type of personality you have and on how
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When you have found an agent or two (or three) you can
work with, I suggest taking them out to lunch on a periodic
basis. Meet them every three or four weeks or so. You
don’t always need to talk business 100% of the time. Get to
know then personally, ask about their families and become
friends with them – but only do this if you can be sincere. If
not, don’t even bother.
You can begin with small talk but keep it short. Next you
will ask about the property and simply fill in your lead
sheet as you go along. Always conclude by asking if the
agent has other similar properties available and to keep you
in mind if they should have any property coming up which
meets your criteria and then reiterate – or provide your
criteria and contact information.
Properties
These homes can be found on the HUD site, but are also
available as estate sales (when someone dies), when an
older couple with grown children is looking to sell their
family home to move into something smaller or as a result
of some form of economic distress.
I would know that I need to sell the house for the best deal I
can get so I can make this headache go away. That’s where
I come in and that’s where I want you to come in. You are
kind, you are friendly, you are full of optimism and
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You work with the seller, not against them. You work to
find a solution that works for you both. You need to make a
profit but you also want to take into consideration the
situation that the seller is in. Sometimes you can help them
to part with their home by offering something other than
money. Maybe you have an agreement with another party
that can help with college tuition for their children, maybe
you know someone who is an attorney who can help the
family, maybe you can put them in contact with a good
financial or tax advisor, maybe all they need is someone
they can talk to.
Only ask other real estate investors about the laws in your
state regarding real estate investing. Also search your local
library or surf the internet. Most states have some
information online about their rules and guidelines
regarding real estate, although they often have little to no
online data about real estate investing.
Your best source of the laws about real estate investing will
most likely be other real estate investors, but an attorney
skilled in the area of real estate investing will also be able
to provide competent advice. To find these attorneys, either
browse online or contact your local title companies and ask
which of the attorneys close on properties the most. You
may or may not get an answer, but if you do, that may be a
good lead for you to follow.
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Contracts
You buy the property from “A,” and then around and sell it
to “C.” Because of this, the wholesale transaction is a bit
more involved than a straight A to B purchase, but not
markedly so.
B to C
When you buy the property, you put your name in the name
field of the purchase and sale agreement – at least you do
with a simple A to B transaction. You don’t do this with a
wholesale transaction. With a wholesale purchase, you
always write in your name (or that of your company) plus
“and/or assigns” “And/or assigns” gives you the legal right
to sell the property to a third party.
Although the price you sell the property to the third party
(“C”) to will be the same price you paid for the property
from “A,” you will also create a separate document
specifying an “assignment” fee that you will assess to “C.”
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The A to B Contract
“It can’t be done,” is the first thing you’ll hear from most
people when you ask if it is okay to assign a bank owned
property. The banks will certainly tell you this. You also
“can’t” do it with a HUD home. But, you can.
If the bank or HUD says “no,” you can’t add your partner’s
name to the contract, that means you are going to have to
buy the home and hold it for a period of “seasoning” before
you can sell it. Most often, you will need to keep title of the
property for at least 90 days, although some states are now
requiring 6 months to a year or more. If you can afford to
hold a property that long, fine, but most investors don’t
want their capital tied up for that length of time.
I’m very happy you have made it this far in your training
and I know your success as a real estate investor is just
around the corner.
OVERVIEW
1. Find a property
2. Fix a property
3. Sell a property
First let’s review steps one and three and then we’ll build in
step two.
your pharmacist. Tell them what you are doing and ask
them if they know anyone who is interested in either
buying or selling a home, then hand them your business
card.
Once you have found a property that you will fix and flip,
you will need to inspect it, conduct a survey of the repairs
required and obtain a professional estimate of the repair
costs and then obtain a general contractor to make the
repairs or do the repairs yourself. We will discuss all this in
detail a bit later. For now, let’s move on to the next step
you have learned.
With a Fix and Flip you are going to need to list the house
for sale using any means described in the “List a Property”
section. The purpose of this section is not so much to sell a
house as it is to build a list of buyers who will want to buy
homes from you over and over again in the future.
LIST A PROPERTY
list of buyers who may want to buy a home from you in the
future.
The training you have received so far has taught you the
key tools you need to be successful at parts one and three of
this process – find and sell.
EVALUATING A PROPERTY
There may be real estate gurus that will tell you to say
“yes” to every deal unless you find out some way or
somehow that the deal won’t work. That sounds like a high
risk strategy to me and it is beyond my comfort level but
you will need to do whatever fits within your own comfort
zone.
If you want to repair the home yourself, you will need the
proper tools and equipment. This report does not go into
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HIRING A CONTRACTOR
the cost of those repairs will be. But there is one thing that
is certain: you will feel a great sense of satisfaction when
the repairs are completed, especially if you did all the work
yourself.
When all the repairs have been made you are ready to sell
the property.
To sell the home, utilize all the steps you learned earlier.
Contact all the buyers on your buyer’s list. I usually email
them 24 hours before I post the home for sale on websites
or place bandit signs.
You also want to consider all the local, state and federal
riders required. These may include lead-paint inspection,
pest-free certification, airport warning, flood zone
statement, et al. You may want to have your buyer initial
next to each of these to indicate that the buyer understands
these. Further, the process of initialing next to each of these
riders affects the psychology of the buyer obligating their
subconscious further into buying the property.
THE CLOSING
CONGRATULATIONS
With this, you have finally bought and sold your first home,
you are now a “real” real estate investor – and I am so
proud
Timothy McKierney
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These are additional videos to use for training. You may view
these at any time.
http://joecrump.com/qandavideo/qandavideo9.html
Can You Really Buy Houses with Zero Down Payment and Bad
Credit?
http://joecrump.com/qandavideo/qandavideo14.html
http://www.youtube.com/watch?v=On4LbZNHhkQ
http://www.reversewholesaling.com/video3.html
http://www.reversewholesaling.com/video5.html
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http://reiclub.com/videos/real-estate-investing-checklist
http://joecrump.com/qandavideo/qandavideo8.html
http://joecrump.com/qandavideo/qandavideo10.html
http://joecrump.com/qandavideo/qandavideo19.html
http://joecrump.com/qandavideo/qandavideo2.html
http://joecrump.com/qandavideo/qandavideo6.html
http://joecrump.com/qandavideo/qandavideo17.html
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http://joecrump.com/qandavideo/qandavideo4.html
http://joecrump.com/qandavideo/qandavideo12.html
http://joecrump.com/qandavideo/qandavideo3.html
http://joecrump.com/qandavideo/qandavideo18.html
http://reversewholesaling.com/video2.html
http://reiclub.com/videos/cashbuyers
http://joecrump.com/qandavideo/qandavideo15.html
112
http://reiclub.com/videos/quick-formula-estimating-repairs-
junker
http://reiclub.com/videos/homeinspections
http://joecrump.com/qandavideo/qandavideo5.html
http://joecrump.com/qandavideo/qandavideo7.html
http://joecrump.com/qandavideo/qandavideo20.html
http://reiclub.com/videos/realestateoffers
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http://reiclub.com/videos/tips-for-making-offers-real-estate-
properties
http://reiclub.com/videos/sellernegotiations
http://joecrump.com/qandavideo/qandavideo1.html
http://joecrump.com/qandavideo/qandavideo16.html
http://reiclub.com/videos/realestateclosings
http://joecrump.com/qandavideo/qandavideo11.html
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http://joecrump.com/qandavideo/qandavideo21.html
http://reiclub.com/videos/virtualassistant
http://reiclub.com/videos/realestateinvestorwebsites
http://joecrump.com/qandavideo/qandavideo13.html
http://reiclub.com/videos/keys-hiring-property-management-
company
http://reiclub.com/videos/propertymanagement
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http://www.youtube.com/watch?v=f0TgKRr4mUQ&feature=pla
yer_embedded
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Resources – Books
You may order any of these books at any time. You will
need a PDF reader to read them. A popular PDF reader is
Adobe. (Adobe.com)
STATE OF
COUNTY OF
__________________________________________________
AFFIANT: _______________________________________
________________________________________
NOTARY PUBLIC
Subject
Property:____________________________________________
_________________.
Legal Description:
property.
Signature:_______________________
Signature:________________________
Date:________________________
Date:____________________________
ASSIGNEE(___________________)
Signature:____________________
Dated:_____________
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If all the above conditions are met and the title is clean &
insurable, then we can conduct a double closing wherein the
middleman need not fund the first transaction.
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hereby agree that Seller shall sell and Buyer shall buy the following described
Real Property and Personal Property (collectively “Property”) pursuant to the
terms and conditions of this Contract for Sale and Purchase and any riders and
addenda (“Contract”):
I. DESCRIPTION:
(a) Legal description of the real property located in COUNTY HERE County,
Florida: _____________________________________________________________ ______________
(b) Street address, city, zip, of the Property: ADDRESS HERE __________________________
As-Is/Where-Is ____________________________________________________________________
PAYMENT:
(a) Deposit held in escrow by (escrow agent) in the amount of (checks subject
to clearance) .........................................................................................
(a) If this offer is not executed by and delivered to all parties OR FACT OF
EXECUTION communicated in writing between the parties on or before
ACCEPTANCE DATE, the deposit(s) will, At Buyer’s option, be returned and
this offer withdrawn. UNLESS OTHERWISE STATED, THE TIME FOR
ACCEPTANCE OF ANY COUNTEROFFERS SHALL BE 2 DAYS FROM THE
DATE OF THE COUNTEROFFER IS DELIVERED. (b) The date of Contract
(“Effective Date”) will be the date when the last one of the Buyer and Seller has
signed or initialed this offer or the final counteroffer. If such date is not otherwise
set forth in this Contract, then the “Effective Date” shall be the date determined
above for acceptance of this offer or, if applicable, the final counteroffer.
IV. FINANCING:
(d) Purchase money note and mortgage to Seller (see “AS IS” Standard B and
K are riders; addenda; or special clauses for terms).
V. TITLE EVIDENCE: At least days (if blank, then 5 days) before closing a
title insurance commitment with legible copies of instrument listed as exceptions
attached thereto (“Title Commitment”) and, after Closing, an owner’s policy of title
insurance (see “AS IS” Standard A for terms) shall be obtained by:
VI. CLOSING DATE: This transaction shall be closed and the closing
documents delivered on or before CLOSING DATE(“Closing”), unless modified
by other provisions of this Contract. If Buyer is unable to obtain Hazard, Wind,
flood, or Homeowners’ insurance at a reasonable rate due to extreme weather
conditions, Buyer may delay Closing up for 5 days after such coverage becomes
available.
may assign but not be released from liability under this Contract; or may
not assign this Contract.
XI. DISCLOSURES:
(c) Mold is naturally occurring and may cause health risks or damage to property.
If Buyer is concerned or desires additional information regarding mold, Buyer
should contact an appropriate professional.
(e) If the real property included pre-1978 residential housing, then a lead-based
paint rider is mandatory.
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(g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS
RECEIVED AND READ THE HOMEOWNERS’ ASSOCIATION/COMMUNITY
DISCLOSURE.
XIII. HOME WARRANTY: Seller Buyer N/A will pay for a home
warranty plan issued by at a cost not to exceed
$ .
XIV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have 0
days from Effective Date (“inspection Period”) with which to have such
inspections of the Property performed as Buyer shall desire and utilities
service shall be made available by the Seller during the Inspection Period;
(b) Buyer shall be responsible for prompt payment for such inspections
and repair of damage and restoration of the Property resulting from such
inspections; and (c) if buyer determines, in buyer’s sole discretion, that the
condition of the Property is not acceptable to Buyer, Buyer may cancel this
contract by delivering written notice of such election to Seller prior to the
expiration of the Inspection Period. If Buyer timely cancels this Contact,
the deposit(s) paid shall be immediately returned to Buyer; thereupon,
Buyer and Seller shall be released of all further obligations under this
Contract, except as provided in this Paragraph XIV. The above provision
(b) shall survive termination of this Contract.
XV. RIDERS; ADDENDA; SPECIAL CLAUSES; CHECK those riders which are
applicable AND are attached to and made part of this Contract:
CONDOMINIUM VA/FHA HOMEOWNERS’ ASSN. LEAD-BASED
PAINT COASTAL CONSTRUCTION CONTROL LINE INSULATION
Other Comprehensive Rider Provisions Addenda Special Clause(s):
The Seller is (related to) a licensed real estate agent in the state of Florida
and does not represent the Buyer in this transaction. Money listed
134
XVI. “AS IS” STANDARDS FOR REAL ESTATE TRANSACTIONS (“AS IS”
Standards): Buyer and Seller acknowledge receipt of a copy of “AS IS”
Standards A through Z on the reverse side or attached, which are incorporated
as part of this Contract. THIS IS INTENDED TO BE A LEGALLY BINDING
CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN
ATTORNEY PRIOR TO SIGNING. THIS “AS IS” FORM HAS BEEN
APPROVED BE THE FLORIDA ASSOCIATION OF REALTOR AND THE
FLORIDA BAR. Approval does not constitute an opinion that any of the terms
and conditions in this Contract should be accepted by the parties in a particular
transaction. Terms and conditions should be negotiated based upon the
respective interests, objectives and bargaining positions of all interested persons.
(BUYER) (DATE)
(SELLER) (DATE)
_______________________________________________________ ________________________
F. LEASES: Seller shall at least 10 days before Closing, furnish to Buyer copies
of all written leases and estoppel letters from each tenant specifying the nature
and duration of the tenant’s occupancy, rental rates, advanced rent and
security deposits paid by tenants. If Seller is unable to obtain such letter from
each tenant to confirm such information. If the terms of the leases differ
materially form Seller’s representations, Buyer may terminate this contract by
delivering written notice to Seller at least 5 days prior to Closing. Seller shall, at
Closing, deliver and assign all original leases to Buyer.
H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real
Property is located at the office of the attorney or other closing agent (“Closing
Agent”) designated by the party paying for title insurance, or, if no title
insurance, designated by Seller.
I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays
and state or national legal holidays shall be excluded. Any time periods provided
for herein which shall end on a Saturday, Sunday, or a legal holiday shall
extend to 5:00 p.m. of the next business day. Time is the essence in this
Contract.
138
J. CLOSING DOCUMENTS: Seller shall furnish the deed, bill of sale, certificate
of title, construction lien affidavit, owner’s possession affidavit, assignments of
leases, tenant and mortgage estoppel letters and corrective instruments. Buyer
shall furnish mortgage, mortgage not, security agreement and financing
statements.
include plural and one gender shall include all. Notice and delivery given by or
to the attorney or broker representing any party shall be as effective as if given
by or to that party. All notices must be in writing and may be made by mail,
personal delivery or electronic media. A legible facsimile copy of this Contract
and any signatures hereon shall be considered for all purposes as an original.
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145
BUYER SCRIPT
California Information
OR
OR
Escrow companies
(909) 946-9188
Pasadena, CA 91105
Phone: (626) 449-1974
Fax: (626) 449-2085
E-Mail: [email protected]
Mary Kendall
Escrow Officer
Foundation Escrow
2020 Camino Del Rio No. Suite 306
San Diego, CA 92108
Ph: (619) 327-2140
Fax: (619) 327-2144
Email: [email protected]
Attorney
Ron Ballard
Ballard Law Offic22996 El Toro Road
Lake Forest, CA 92630-4961
Phone: 949-597-9596
Fax: 949-597-1649
www.ballardlaw.com
[email protected]
150
COMMISSION AGREEMENT
____________________________________
_______
X___________________________________
_DATE:__________
151
DISCLOSURE AGREEMENT
Date: _____________________
______________________ SS#_____________________
Ph#___________________
(Person Issuing Statement)
______________________ SS#_____________________
Ph#___________________
(Person Issuing Statement)
152
Land Contract
This Agreement is made and entered into by and between:
_________________________________________________________
________________________________
(seller)
whose address is:
_________________________________________________________
________________________________
hereinafter called the Vendor and
_________________________________________________________
________________________________
(buyer)
whose address is:
_________________________________________________________
________________________________
hereinafter called the Vendee.
Witnesseth: The Vendor, for himself, his heirs and assigns, does hereby
agree to sell to the Vendee, their heirs and assigns, the following real
estate commonly known as:
_________________________________________________________
_________________________________
and further described; as:
2. ENCUMBRANCES:
The Vendor agrees to keep the premises insured against fire and other
hazard for at least
___________________________________________Dollars
($_______), and shall escrow and add the cost for said insurance
premiums to the Vendee's principal and interest obligation herein.
Vendor herein shall have the right to enter the premises at least once
per year with twenty-four hours notice to Vendee of his interest to
exercise his right.
Vendee shall keep the building in a good state of repair and well painted
at the Vendee expense and no additions or alterations shall be made to
the building without the Vendor's permission, which shall not be
unreasonably withheld. At such time as the Vendor Inspects the
premises and finds that repairs are necessary, Vendor shall request that
these repairs be made within thirty (30) days at the Vendee's expense.
The Vendee has inspected the premises constituting the subject matter
of this Land Contract, and no representations have been made to the
Vendee by the Vendor in regard to the condition of said premises; and it
is agreed that the said premises are being sold to the Vendee as the
same now exists and that the Vendor shall have no obligation to do or
furnish anything toward the improvement of said premises, except as
may be provided herein.
5. POSSESSION:
6. ASSIGNMENT:
The Vendee shall not sell, assign, or pledge their interest in this Land
Contract without the Vendor's written consent which consent shall not
be unreasonably withheld.
7. DELIVERY OF DEED:
Upon full payment of this contract, the Vendee shall receive a General
Warranty deed to the property free of all encumbrances except as
otherwise set forth.
156
8. DEFAULT:
Failure of Vendee to maintain current the status of all real estate taxes
and insurance escrow payments and/or premiums as required herein
shall permit Vendor the option to pay any such escrow amounts,
premiums, taxes, interest, and/or penalty(ies), and to add same to the
next due installment payment or principal amount owing under this
contract, or to exercise any remedies available to Vendor.
In the event that the Vendor's interests in the property should become
compromised or otherwise extinguished for any reason, or should there
be an acceleration of any debt secured by the property, the Vendee
shall be entitled to a refund of all downpayment monies paid to the
Vendor, plus the principal portion of any payments made to date, as
follows: Upon notification of such conditions, Vendee agrees to suspend
subsequent payments due hereunder, and must continue to occupy the
property until required to vacate by judicial order. Vendee further agrees
that any refund amounts due hereunder will be reduced by the amount
of the missed payments. Both parties agree that this shall constitute the
entire liability of the Vendor, and that Vendor shall have no liability to
Vendee beyond this amount for any reason whatsoever.
157
9. GENERAL PROVISIONS:
It is agreed that this Land Contract shall be binding upon each of the
parties, their administrators, executors, legal representatives, heirs and
assigns.
_________________________________________________________
___________________________________
_________________________________________________________
___________________________________
_________________________________________________________
___________________________________
_________________________________________________________
___________________________________
WITNESS:
______________________________________________________
_________________________________________________________
_______
VENDOR:
_______________________________________________________
_________________________________________________________
_______
VENDEE:
_______________________________________________________
158
_________________________________________________________
_______
159
ARTICLE ONE
______________________(AND)_________________________
______(OWNER(S)), as Settlor and _________as Trustee. The
Settlors has/have transferred or will transfer property to the
Trustee, which shall be held, in trust, on the terms set forth in
this agreement.
ARTICLE TWO
ARTICLE THREE
ARTICLE FOUR
During the life of the Settlor, the Trustee shall pay to or apply
for the benefit of the Settlor monthly or as received all of the net
income of the Trust Estate. If the Trustee considers the net
income insufficient, the Trustee shall pay to the Settlor as much
of the principal of the Trust Estate as is necessary, in the
Trustee's discretion.
ARTICLE FIVE
ARTICLE SIX
ARTICLE SEVEN
ARTICLE EIGHT
ARTICLE NINE
__________________________________________________
(signature)
State of
County of } ss.
ProbateLetter
September 31, 2005
In any event, I wish the best for your family in their time of
loss.
Sincerely,
J. Edgar Hoover
108 Moody Ave S #2
Tampa, FL 33609
Date ___________
Case No. –
Property address:
__________________________________________
Name: ________________________
Address:
____________________________________________________
____
Phone: ________________________
169
Personal Representative #1
Name: _____________________________
Address:_____________________________________________
___________________
Phone / Email:
____________________________________________________
_______
Beneficiary #1:
Name: _____________________________
Address:
____________________________________________________
____________
Phone / Email:
____________________________________________________
_______
Beneficiary #2:
Name: _____________________________
Address:
____________________________________________________
____________
170
Phone / Email:
____________________________________________________
_______
Beneficiary #3:
Name: _____________________________
Address:
____________________________________________________
____________
Phone / Email:
____________________________________________________
_______
Beneficiary #4:
Name: _____________________________
Address:
____________________________________________________
____________
Beneficiary #5
Name: _____________________________
Address:
____________________________________________________
____________
171
Phone / Email:
____________________________________________________
_______
172
Property Address
Seller’s Name
Date:
Square Footage
Assessed Value
Year Built
* have this info complete if possible before meeting seller
st
a) 1 Comp Address
Date Sold
Square Footage
nd
b) 2 Comp Address
Date Sold
Square Footage
rd
c) 3 Comp Address
Date Sold
173
Square Footage
(Divide total sum of amounts sold of comps a-c by total square footage
price of comps)
Note: Try to get the comparable information about the subject property if you can
before you visit the seller. Sometimes the situation may call for you to make an
offer right then and there, and you want to be prepared.
Exterior of Property
Interior Features
Number of Rooms to be Painted
Comments:
General Comments:
176
177
PARTIES:
____________________________________________________
__ their heir(s), successors, administrators and assigns, as Seller who’s address is:
______________________________________________________and_______________
___________________________________________ _______________________their
heirs, successors, administrators and assigns, as Buyer, whose mailing address is
__________________________________________.
SUBJECT PROPERTY:
_____________________________________________
___________, hereinafter the property,
LEGAL DESCRIPTION:
_____________________________________________
__________________________
178
____________________________________________________
_____________________________________________
SALE PRICE:
$________________________
SUBJECT TO:
_____________________________________________
____ $________________________
____________________________________________________
_________________
EQUITY:
$________________________
INSURANCE: As consideration for this purchase the Seller will assign all
insurance policies on the property to the Buyer and Seller will grant a limited
power of attorney to the Buyer to deal with the lender(s) and insurance
provider(s).
RADON GAS & LEAD PAINT: Lead based paint and Radon, a
naturally occurring radioactive gas that may present health risks to persons
who are exposed to it over time, may exist in this property. Buyer may obtain
a risk assessment of “the property” by licensed inspectors. Dangerous
circumstances and the conditions, which caused said circumstances will be
corrected at the Seller’s expense before title transfers.
Buyer if title does not transfer in accordance with this agreement and said title
company will close this transaction.
SELLER: Agrees that the buyer may place signs and show the property
immediately upon acceptance of this contract by both parties.
____________________________ _______
_____________________________ ______
182
_______________________________ ________
_________________________________ _______
STATE: ________
COUNTY: ________________________
The foregoing instrument was acknowledged
before me this _________ day of
_________________, 200_, by
________________________________ and
__________________________, who have
provided driver’s license as identification and
who did not take an oath.
_____
__________
__________
__________
_________
183
Date: ___________________
Claimant: _________________________________
Property:
_____________________________________________
_____________________
____________________________________________________
__________________________
____________________________________________________
__________________________
_____________
_____________
_____________
_
185
STATE OF ______________ §
COUNTY OF ____________ §
Notary Public,
State of Texas
STATE OF _____________ §
COUNTY OF ___________ §
186
Notary Public,
State of Texas
My commission
expires:
_____________
_________
County of
YOUR NAME HERE, who being first duly sworn, deposes and
says
that:
WITNESS AFFIANT
WITNESS
(Seal)
189
NOTARY PUBLIC
STATE OF STATE NAME
HERE
My commission expires
Exhibit A
190
REALTOR SCRIPT
Agent – I’m too busy to meet you for lunch right now
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