How To Complete a Purchase Contract

On this podcast episode I talk about how to complete a purchase contract. You will need to have a standard purchase and sale agreement in order to be able to purchase houses. If you have sent out postcards, made an appointment with the seller and gone on the appointment then the next step is to agree on a price. If you and the seller have agreed on a price, then your next step is to have them sign a purchase contract and sales contract. You can use any standard purchase and sale agreement for your State. You can Google the search term “Purchase and Sale Agreement” and you can also purchase them online from legal web sites or you could have your attorney prepare one for you. The 14 main variables that are components of this contract are: 1. contract date 2. name of seller 3. name of buyer 4. address of property 5. legal description 6. property ID 7. purchase price 8. deposit 9. balance to close 10. closing date 11. Title company (or attorney) 12. Inspection period 13. date signed 14. signature Some of the above variables can be prefilled in a contract template that you have. For example, buyers name, title company, # of days inspection and deposit amount could all be the same. The most important are the # of days inspection (inspection period), the closing date and the amount of deposit. Disclaimer: this is not meant to be taken as legal advice. Please consult with your attorney in your State as to which purchase contract will work best for you. Tip: go to real estate investment club meetings in your area and network with other investors and wholesalers and ask them what contract they are using. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON’T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book “Wholesaling Bank Owned Properties” at https://www.lexlevinrad.com

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Incredible podcast!

This podcast is a must listen for anyone looking to level up their real estate investing strategies! Lex is a great host and his conversations with guests reveal everything you need to know to succeed.

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Lex does such a good job covering a variety of topics. The guests offer valuable insight as well. I would recommend this podcast to anyone looking to be inspired and informed!

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Absolutely Top Class!!!!

Excellent content from one of the top boots on the ground investor. Personally changed my life and my Real Estate investing career. Many thanks Lex for providing amazing content, mentorship and for sharing your knowledge and real world experience.

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Whether you're a seasoned real estate investor or just dipping your toes in, Lex is the guy you want in your corner - and your headphones! I cannot tell you how much I've learned from this show. Thanks a million, Lex!

Arlie K

Excellent Content!!!!!

This is a wonderful podcast to listen to with such valuable content. I was very interested to listen to your take on why one should purchase rental property.

Fashionistagirly1967

Best real estate investor podcast.

Lex gives you real tips with actual names of multiple sites and services to use from the beginner up to advanced. I feel he’s giving away his classes for free on the podcast. Most podcasts stop short of details and give generic advice unless you join there groups.

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Anna B David

Great show for beginners or experts!

As an amateur flipper since I was in my teens, I kind of have gotten pretty good at identifying great opportunities and taking advantage of them. But, Lex dives much deeper and gives actionable tips on how to make sure you are looking at everthing before making any decisions. I'm hooked!

Mitche Graf

Be Prepared to Learn!

Two words: Information Dense. Sweet Moses. I’ve listened to other real estate investing podcasts but this by far is the most practical, the most hands-on podcast I have heard to date. You can tell that the host, Lex, is very passionate about real estate investing. That passion with his experience translates into an excellent podcast. He shares theory about a topic and then tells a story about his experiences in the real world. That to me is gold!

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