Thursday, October 23rd, 2014

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Real Estate Purchase Contract…Undressed (Free Download, Plus Video)

You remember the free option agreement form and video I gave out recently? Here’s another one for you...

Today it’s my “Quick N’ Dirty” buying contract — specifically the one I use for wholesale/quick flip deals…and even more specifically when going “belly to belly” with an individual seller (i.e. non-listed property)

I think you’ll be glad to see it’s about as simple, plain-English and non-threatening as you can get.

Granted, it may not be the most comprehensive real estate contract around — but for that you can go to your local board of Realtors.  And from time to time you probably will.

But I like this one a lot because it’s notably lacking in bloat, but I find it gets the job done real nice for me.

1) Start by downloading a copy of the contract for yourself…

To do this, right-click here and select “Save Target As…” from your Windows menu.

3 quick things:

1) Here’s a quick screen-capture video I made demonstrating how to download the doc in Internet Explorer on a Windows computer.

2) If you’re a Mac user, then instead do whatever it is you Mac folks do to download stuff.

3) The form is in MS Word (.doc) format.  If you don’t already have MS Word on your computer, then Open Office should do the trick for you (and it’s open-source freeware).

Oh, and I’m giving you a personal license to use this document in your own real estate business.  But please don’t sell it or give it away yourself.  If you know of someone else who would benefit from this, please send them a link to this page so they can come here and get it themselves.

Why?  Because I’d like to give them the chance to become an REI Tips subscriber…just like you.  :-)

2) Then watch the “how to” videos…

Here’s my short, 2-part video walking through this form, how to fill it out and how I use it specifically.

I hope you find it useful, and I’d really appreciate hearing any comments you may have if you could please share them below.

Thanks.

Real Estate Purchase Agreement, Undressed – Part 1

Real Estate Purchase Agreement, Undressed – Part 2

Technorati: Real Estate Investing, Free Real Estate Purchase Contract

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Real Estate Purchase Contract…Undressed (Free Download, Plus Video), 4.3 out of 5 based on 3 ratings

About 

JP Moses is a roughly-hewn man-child who first got into REI after reading Rich Dad, Poor Dad back in Y2K and went full time in 2002. He's tinkered in everything from landlording to short sales to rehabs to Realtoring to REOs to notes to owner financing, blah, blah, blah...Till he finally stuck his flag deep into wholesaling and has since flipped somewhere north of a couple hundred deals.

JP's not a “guru” but also doesn't think it's a bad word. Among his core values are authenticity, creativity, big honkin' value, general fun-ness and being unshaven. He's super proud to be chief blogger guy at REItips.com and host of the free REIology podcast. He also thoroughly enjoys sharing his 53 best real estate investing forms with anyone who wants them. You should totally check that out. :-)

  • Chantelle

    Thanks for the free contract! Things like this are treated as gold with other gurus and they rarely give out their gold. Quick question: Do you have the Preston Ely call available to your readers? You have to be a member of Preston's club to hear any archives. Just wondering.

    Thanks again!

  • Darlene

    Thank you. Your site has been very helpful!

  • ShortSaleSDude

    JP, I owe you guys big time for these vids! Ok, consideration of $10, 20, 50, or $100 makes the contract enforceable, right? Now what is the purpose of the earnest money if I just put consideration down to enforce the contract? What is earnest money? How much earnest money is needed?

  • http://REItips.com/ jp moses

    It’s a little hard to explain…but “legal consideration” isn’t necessarily the same thing as earnest money. I honestly don’t understand it fully myself…I did at one point, back in the day when I took my Realtor licensure classes. But I know Earnest Money can count as legal consideration…but other things can also…even love and affection in TN (as I mentioned in the video – crazy, I know).

    Typically when a real estate contract mentions “for $10 and other good consideration” you don’t actually give them the $10. No one I’ve ever known has done that.

    Not a lot of clarity there…but then again, I’m still lacking a little coffee this morning. :-)

    …jp

  • http://www.usgoldustinternational.com Valerie Robinson

    Jp..Thanks you for the REI forms and the walk through steps. Valerie Robinson

  • Anonymous

    HI JP,

    I see that there are two fields for seller signature, does the seller have to sign twice or is the other sig field for us when we flip the house?

    Also, when does the purchase contract come in? Is it after you have a confirmed buyer? I just got a little confused on this since we tie up the property with an option, right?

    Thanks,

    Mon.
    ***sorry, can’t edit handle on my disquss account***

  • BooDog

    He said ‘see deed’.  Not cd.

  • kim

    This is the  best site on RE that I found…you are awesome! Giving out free forms for the newbies and anyone who needs it. THANKS!! Gotta tell you, I’ve been searching for forms for a while and unable to find one until I found your site.