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Guide of Offer To Purchase Form

what's up guys this is Teddy welcome to.my youtube channel in this video I'm.gonna be talking about how to fill out.and offer to purchase contract in real.estate whether you are a real estate.agent a real estate investor or maybe.even a commercial real estate agent.alright so the whole point of an offer.to purchase is number one lay out the.purchase price price that you plan on.paying for the property how you plan on.paying for the property.how much earnest money that you're.planning to put down and the dates in.the close date for the property you.could probably fit those five things are.the most important right there and how.you communicate those five things is.going to determine how strong and how.weak your offer is in this one we have.the seller and the buyer up here try to.be as detailed as you can about the.seller and the buyer.pull up your tax record information for.the property because you're going to be.kind of looking at these things.simultaneously and filling them out.whoever is the owner of the property so.if you know Jim Smith is the owner of.the property put and if he holds the.property in an LLC put the LLC don't put.Jim Smith and the buyer try to put the.first middle and last name put the full.name for the buyer and try to make it as.detail as possible obviously you're.going to have to fill out the address.just make sure that you don't put the.address run that's pretty much standard.for that and then you have the legal.description the legal description throws.a lot of people off simply because they.don't know where to find this.information all the legal description.right here can be found in your tax.record and that's where you're going to.have to go to get this don't ever rely.on the MLS because a lot of times people.put wrong stuff on the MLS they do it.all the time so make sure that you're.obtaining this information on your own.accord and you're not just using the MLS.information so lot unit block these.things can be found in the legal.description whenever you look at the tax.record the legal description is usually.a word that looks like this that is in.all caps and this is going to show you.the lot and the block section you also.have a text identifier number so each.property in your county has what's.called a tax identifier that's what.these state uses to identify the.property that you have that you need to.pay taxes.book and slide my County is not a slide.state either your County is a book state.or a slide say I have a book County or a.slide County I'm in a deed book County.many people wonder like what is this.deed book like page thing what up why do.I have to do that in your city there's a.thing called the Register of Deeds and.the deed for the property that you're.trying to buy is held in giant books.like you'll see if you go down there.there's literally giant books in the.Register of Deeds and the book in the.page is what you need there so that the.attorney can go in and maybe even the.potential buyer can go in and take a.look at the deed if they so choose.alright so purchase price the purchase.price kind of just goes without saying.how much are you planning on buying the.property for if you've done your.homework you already kind of know what.you plan on paying the due diligence fee.in the earnest money.many people wonder should I put a due.diligence fee or should I put in you.have to put in earnest money deposit.down never ever ever in a hundred years.accept an offer that doesn't allow you.to put down EMD money or earnest money.money or some type of deposit and this.actually happened to me one time I had a.like a $40,000 condo listed this person.said that they did not want to put down.deposit and they gave me the whole spill.her do you know I'll you know I'm good.for the money.this person bailed on the contract and I.looked really stupid never you know let.people put get a property under contract.without earnest money due diligence fee.it's a hundred percent different you.don't have to put down into diligence.feet and most properties people don't.put down to diligence fees if they don't.have to if you're in a multiple offer.situation a due diligence fee can be.helpful especially a big one so if.somebody puts down $500 due diligence.fee that check goes straight to the.seller they get to deposit it in their.account and it's not held in deposit.it's literally just free money to the.sellers showing that you know if you let.me take this property off the market I'm.gonna give you five hundred bucks or.something along those lines.they do dojos fee is never as much as.the earnest money deposit so a good rule.of thumb is for every one hundred.thousand dollars may.be put down $100 due diligence and $1000.earnest money deposit if you have.additional earnest money you know this.is where you put that but most of time.not unless you get further into the deal.and people want to put down more my.deposit that's usually not the case make.sure you put n/a for all these you never.want to leave anything blank because you.don't want people to get the idea that.they can just start altering stuff like.this because you never know people do.weird stuff like that and then the.balance is going to be the $100,000.minus the initial deposit and this is.what usually what the lenders use the.lenders mainly uses part down at the.bottom but it's still required for the.real cetacean to fill that out all right.earnest money deposit that kind of goes.without saying the escrow agent the.escrow agent is important because if.things go awry in the deal and people.start grabbing for the earnest money.deposit you want this to be at a third.party traditionally it is the listing.agent but it could also be the buyers.buyers agents firm or the lit it's.usually the listing agents firm though.but it also could be the attorney it's.never the real sedation never let and I.don't think anybody would ever do this.but never let a real estate agent or the.seller just hold the earnest money.deposit because if things go wrong.people we're gonna start grabbing for.that earnest money okay just be aware of.that the due diligence period you always.in a real estate deal the buyer wants.the due diligence period to be as long.as possible the seller wants the due.diligence period to be as short as.possible if you were the selling agent I.would shoot for a week due diligence.never ever let somebody tie up a.property and have super-long due.diligence the due diligence should never.not listen it's a commercial deal or.some other type of thing the due.diligence period should never be longer.than two weeks never let somebody put a.due diligence period of a month and try.it if I were the listing agent I would.say try and shoot for a week or maybe.even a little less than that the.settlement day is the day that you plan.on closing the property if the property.is being purchased through financing.this is going to be around a month.if the property is being paid with cash.it could be as little as two weeks but.for the most part you will usually want.to set it for around a month this is the.same thing as they do diligence period.it never ever let somebody tie up a.property for a really long time because.what a lot of people do and there's.these sketchy buyer's agents who will.get a property under contract you know.they put a month due diligence period.and then they're out looking at.properties with other buyers as your.property is tied up make sure that you.get you know just tell people you know.you've got a week to figure out if you.want to buy this thing or we're gonna.put it back on the market don't let.people screw with you because they will.all right items lease or not own this is.going to identify the personal property.that you may be once you throw in with.the deal are there any items least in.the house maybe you have a dishwasher.that is leased sometimes people lease.things or maybe you have a couch easily.sometimes people buy rent or buy couches.you never know but this is what those.are going to outline here maybe if you.have a beach rental and there's personal.property in there that you want to throw.in with the deal.once again you always need to outline.these things because if things get.heated and people start getting angry.you can always go back to the contract.alright.so buyer representation if you're the.listing agent you want to know whether.people are buying a property through.financing or cash if somebody is maybe.buying cash you want to know that.because maybe you could close the deal.quicker if somebody is buying through a.loan you need to know that because.you're probably going to be dealing with.lenders and usually what people are.paying for a loan you should expect more.money because it's a longer purchased.earth it's the property is gonna be tied.up for longer okay so other property.this is very small right here but this.is a big deal right here when you see.that this thing buyer does have to sell.property in order to buy this piece of.real estate essentially this means that.this person is listing their house and.there are out there looking for other.properties sorry something just flicked.it.occurred in my house when you have.somebody who is trying to sell their.house and they don't have an offer on.that house you want to be very leery of.that person because if there's not an.offer on the house that they're trying.to sell they're gonna get your property.under contract and the likelihood that.they're gonna be able to buy it.decreases just dramatically so always.make sure somebody is selling another.property that they have been offer on.the property or you could be heading.yourself down a very long road so this.goes over disclosures when somebody.sells a piece of real estate they have.to fill out a disclosure in my state and.a disclosure basically outlines what.issues the seller knows is wrong with.the property if they have seen this form.you check those your state might not.have that though a lot of times most.offered purchases are going to include.this most of this has to deal with.condos and HOAs you probably don't have.that okay so the next thing is that the.buyer oftentimes will ask the seller to.pay for expenses so if you're a buyer.wants to pay for expenses this is where.this is outlined right here so if your.buyer wants to have these or pay $1,000.expenses you would just do that right.there and normally it is credited at.closing this is if you want a home.warranty most offers aren't gonna have.that though possession.okay so possession before closing many.times when people are moving they want.to take early possession of the property.this is kind of dicey to a certain.extent but a lot of times it can work.out in your favor the seller can't allow.you to take early possession of the.property and the property doesn't closed.they'll charge you some type of fee make.sure if you do fill out the possession.before closing you take you take this.little box and you make them fill out.the addendum this also goes over any.other type of addendum that you plan on.using if if it's a short sale if it's a.vacation rental you're gonna have to.fill out all these little extra.addendums.and that is pretty much it after that.you get them to sign there at the bottom.you fill out this pay this part right.here which this is more or less for the.attorneys and then you have the receipt.of money so right here you have your.receipt of money so when somebody brings.in the earnest money deposit this is.what you fell out stating that you got.it you take a little picture of it and.then you scan it you load it up into.your Dot loot making sure that everybody.knows that you got the earnest might.pause it and then you have a pretty much.a deal going on but that is my offer to.purchase video for today I hope that you.guys enjoy it I hope you found it very.useful if you did make sure to hit that.like button make sure to hit that.subscribe button and as always thank you.for watching.

How to generate an electronic signature for the Offer To Purchase Form online

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How to create an electronic signature for the Offer To Purchase Form in Chrome

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How to create an electronic signature for the Offer To Purchase Form in Gmail?

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How to create an e-signature for the Offer To Purchase Form straight from your smartphone?

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How to create an e-signature for the Offer To Purchase Form on iOS?

Creating an electronic signature on a iPod Touch is not at all complicated. You can sign the Offer To Purchase Form on your iPhone or iPad, using a PDF file. You will locate the application CocoSign has created especially for iOS users. Just go to try CocoSign.

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Offer To Purchase Form FAQs

Here are the answers to some common misunderstandings regarding Offer To Purchase Form . Let us know if you have any other doubt.

Need help? Contact support

How do I create my own gang?

Look making gang is very easy I have made robots which are powerful like normal humans and they can also be destroyed . I have made at 20 to 25 robots and they follow my all commands . They are like 6 ft 2 inch tall and their weight is 80 to 90 kgs or little more . And I am trying to make more such robots. The robots also fights well. I have 5 to 6 such robots which can beat 3 to 4 people. Once I had fight with 15 to 16 persons in restaurant and they were asking to pay their bill . I have a radar system and I have installed them in my robots also and I can talk them whenever I want . I called t Continue Reading

Is an offer to purchase real estate binding?

That would be a cash offer with no contingencies of any kind - no inspection contingencies or anything like that. There would be no legitimate way of getting out of the contract unless you breach it and then, there would be consequences for that.

How do you invest in real estate for free?

How do you invest in real estate for free? Your question is unclear. Do you mean: How do you invest without paying for anything other than the property itself? Or How do you invest without paying anything at all? Further: How are you defining “invest”? Let’s start with a few basics, so we can figure out ways to work around them: When you’re buying real estate, your largest costs often are the down payment and closing costs. To eliminate your having to pay a down payment, you’ve got two options: Find a transaction that doesn’t require a down payment, or Have someone else pay it. There are some lending pr Continue Reading

When should I fire my co-founder? He told me that he doesn’t have any technical experience or skills to complement the start-up. Is it fair to just let him go, or should I give him 1% equity?

It also sounded to me like the OP meant "when is the best time to get rid of my partner." Of course, I could be wrong and I hope I am, because someone with that attitude will poison the environment and ultimately likely bring down the company. My answer is based on the more favorable interpretation of the question. [This is a good example of how such a question may be interpreted differently by different people with different experiences. Unfortunately, Quora is filled with poorly articulated questions.] Assuming the viability of the company is not exclusively dependent on the cofounder, I wou Continue Reading

Is a purchase and sale agreement binding?

As per section 10 of the Indian Contract Act, all agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. All legally binding agreements are contracts. If the purchase and sale agreement you are referring to has valid elements of a contract as mentioned in section 10 of the Indian Contracts Act then it shall be binding upon the parties.

What's the weirdest thing a guest has done at your house?

These are amazing stories…I’m not sure mine comes up to the standard (as it were) of other folks’ astonishing experiences. But here it is… When I was finishing the doctorate, I got a grant that covered about three months of research time in England. My husband decided he would take a sabbatical from his firm and come with me. We had a beautiful home in a historic district, and we had a couple of cats. So we needed someone to house-sit while we were gone for such a long period. The office manager at my husband’s law firm volunteered to do this. He had house-sat for other people and was known to b Continue Reading

How binding is an offer to purchase?

“Binding” is a fuzzy definition because the offer letter is an invitation to join a company and conveys or intimates that there is a legal relationship between an employer and a candidate. Most experts feel that offer letters are not absolute employment contracts and until you appear for work for the first day of work, the offer letter cannot be considered as a contract. I cannot advise you on your strategy of trying to “play one employer off of another”. In the coming period as the number of H1B visas dwindles or takes longer to obtain, the consequences on the bargaining position of candidates Continue Reading

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