How To Do The Paperwork On A For Sale By Owner Property (real estate investing)
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- Опубликовано: 10 сен 2024
- Chandler breaks down the entire process required to fill out the purchase and sale agreement. This video will help you know how to fill out the agreement if you land an off market for sale by owner deal.
Chandler David Smith has been investing in real estate for the last eight years. He currently owns over $14 million of rental properties and has gone through the purchasing process dozens of times. In this video, Chandler shows you how to go through the paperwork on a for sale by owner deal. He talks about picking the proper title company, filling out the purchase and sale agreement, and all the do’s and don’ts throughout the process. This video gives you everything you need to know to be able to lock down an off market deal. Filling out the purchase and sale agreement can be intimidating but it really isn’t something worth stressing.
#purchaseandsale #forsalebyowner
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Exactly what I was looking for. Simple and to the point! Thanks
Yup my sister knows her stuff. Proud of you sis.
I was super nervous doing my first FSBO but the title company is your best friend during the process.
Can you help me
Thank you so much. You made an intimidating paper work less intimidating. I am ready to go, but I wish you were speaking from the seller’s side.
It is pretty much everything he said in the video, except turn it around and see it from the seller's view on closing costs. I had one buyer who tried to get me to pay all the closing costs plus a 3% commission back to him because he was a licensed realtor and said he felt like he should get a fee. I balked at it and because he wanted the property, he caved in on the fee and the closing costs. Also, let them do their inspection, but be prepared for them to come back and want a lot of things repaired or upgraded or want more money off. Be prepared to just say no at that point and wait for another buyer to come along if it is going to reduce your profits significantly.
I find I love FSBO better than going through a realtor, because some realtors in idaho do some shady stuff. Purchase agreements are extremely easy to fill out and you just have to know how to negotiate with the seller. I love that you touched on some things you can't do in negotiation because of the type of loan you're using. This will save people from making mistakes in the negotiation process. I've been currently trying to get my first owner carry where they're not literally trying to rip you off with worst terms than a conventional loan. Wish me luck because I need it. Love your channel.
What's annoying is that there are tons of different types of purchase and sales agreements. Wholesalers can also write their own version on a Word doc if they want :). In many purchase and sales agreements, there are also check boxes that determine who pays for what closing fees, which further complicates things. In short, get a friend who works at a title company who knows what they're doing and your escrow process will be smooth!
Hi this may sound like a dumb question but does anyone know HOW or WHERE a person may be able to get a legitimate purchase agreement and associated documents? Is there a website or agency?
staples
Title company/real estate attorney. You can pay for online templates and have a notary sign it, but I would pay to have an attorney review it which saves steps and extra people involved.
It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.
Great video! I see an alarming Amount of videos like this with the comments turned off, but yours is not. It speaks volumes of your context.
Good video, but I would not skip the earnest money provision. Many states require consideration for a valid legally binding contract.
Buying property from friend , agreed to pay appraisal price . No agents involved , so we would just need a title company and loan officer for the loan . Correct me if I’m wrong
Thxs
Great video! Do buyers still need to hire attorney when having good title company as you found?
No not boring video at all! Love these too keep it up chand
I wish I would have seen this video when it came out and not 3 weeks late!
If your paying all cash no lender is it as easy as filling out the paperwork with the title company and sending the funds?
Thank you, muchly.
Keep up with the great content Chandler!!
Thank you very much so much for this video. It was very instructive.
So technically you can pay someone cash money and buy a house ?
What if the seller has an agent but I am representing myself. Do I use the same contract or is there something different done?
Love this video! But when does the bank get involved. After the purchase agreement is signed by both parties? And I assume the title company will notarize it before it can go to the bank?
Is it the same procedure when you stay making payments instead of paying with a loan ?
What does it cost about for the fees of the Title Co. i did sell my house about 15 years ago i paid 2k im sure it might of went up since then . I paid 1k for paper work and 1k for the insurance. , this paper work is available at the title office then , last time i paid for a legal form to fill out
Isnt ernest money like a insurance?
What if they dont end up buying?
What state are you Chandler? Can a title company outside the state where property is located and not the state of either buyer or seller be used?
To bad about those big fat rings because she is an all around winner.
But also great video bro. People really need to understand that we can buy without a realtor as long as you have a great title company.
Love her though.
Where do you
Get the purchase agreement form?
Can we have a copy of your contract template?
I sold my house as is and the buyer is paying closing cost
how to get those paper work title companies or do I have to hire a lawyer to write,
Where can I get this paperwork? At the bank?
I use Homepie, pay a little fee for everything you need, and they help you all the way you need till closing, try this new way to sell or buy house your self.
is this considered wholesaling?
I love Kylie!! She taught me so much when I first got into the real estate industry, she's amazing!
Where did you find this document?
just the video i needed
I need help with this
Ive seen most for sale by owners not get any offers or nothing but lowballs then finally go with a realtor and sell right away for more. Commissions are negotiable people, u can find a realtor with a good rate 😉
It depends on the location. I say, go ahead and try FSBO first and try to save that commission. You can always fall back on a realtor if you need one later on. But 6% of nearly a million dollars for the average house around here is a lot of money.
@@jsk4502 commission I paid was 2.8% all in….you’ll sell way less on ur own then on the open market and mls
Hi Chandler, what compounded annualized return has your real estate portfolio given you since you started?
Great video. Keep the quality content coming!!
who is Ernest and why would we need his money????
do for sale by owner deals require an appraisal? or how does that work when you want to buy a beat up property but the owner wants to sell at market value? does the title company help with the requirements needed to buy any property?
They will typically help with that process. An appraisal is usually required if a loan is required for the mortgage.
If you have a a title company do you still need a lawyer??
No from my experience
Nice work 🎆🎇✨
at 9:05 are you talking to the buyer? or the seller?
Valuable video
U end up getting way less money then when u sell on MLS with maximum exposure. Most all buyers use realtors when buying since its free. So realtors arent gonna show a by owner property. Its a hassle and most for sale by owners will be hard to deal with and want some ridiculous price. Plus you have no E and O insurance going private, good luck with that down the road !!
I was a little confused watching this video. If I'm selling my home (FSBO) I should have the buyer agent fill out that form. After all, they made 3%commission and all they did was bring a buyer🤷
It is a transaction. Say you are getting a divorce- you want to be the one to file the terms. Granted, wherever you are at your real estate attorney will have this template contract and you can fill in and ask them questions if you don’t want to pay seller agent commission. Your attorney will have this.
WHAT??? The seller paying half of buyers financing fees? NO WAY!
As a current seller, and running into SO MANY shady "investors" in just 3 days, that's where I stopped his vid.
I totally get needing to make a profit, but trying to gouge an old lady with cancer trying to sell to get closer to her family (my situation) is, if not unethical, deeply disappointing. Money sucks the humanity out of people.
And that side eye emoji shows he knows it bad behavior.
I’m confused on how the title company can find you wiggle room and ways to save in your contract if they’re supposed to remain neutral?
This is on their fees.
Uno
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For sale by boomer/boomer financing video next.
Bad video
Your favorite tenant passed away in White Plains.. RIP DMX !!!
is this considered wholesaling?
is this considered wholesaling?