Basic Real Estate Contract and Lots of Warnings

First, I strongly advise you to use the article How To Get The Paperwork For Your Deal to get the right paperwork for your real estate investing from someone who is both local and can advise you on how to use the paperwork correctly.

I am NOT an attorney. I am not qualified to teach you contract law. I am not qualified to teach you how to fill out a contract. With that being said, I get requests all the time from real estate investors who ask me for a real estate contract they can use to buy property.

I strongly advise you again to use How To Get The Paperwork For Your Deal, but if you want a basic real estate contract to take to your dream team to get changes made that are appropriate for what you are trying to do and for your local laws and market then you can start with this very, very basic real estate contract (a resource for our Real Estate Investor Bronze Members only).

I cannot stress the important of my warnings above to you: you need to learn the proper way to fill out a contract from someone that is qualified to teach that. I am not qualified to do so. You should have all your contracts reviewed by an attorney on your dream team that is representing you and your specific interests.

There are lots of real estate courses that will give you a contract to use and do not educate you, or even more frightening is they try to educate you in a few pages, on how to fill out a contract. It raises the hair on the back of my neck; it is that scary. While 9 times out of 10 you may be fine filling out a generic contract–even filling it out wrong. You’ll only know how valuable this is when you run into a problem with your transaction and that could wipe you out completely financially if you did not get advice up front.

Until my next post,

James

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