When you refinance your mortgage, everything hinges on the appraisal. Here's what appraisers look at, how to make your home look as valuable as... July 17, 2016 at 3:08 pm
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Good question – thanks for helping to clarify this. I can see where the confusion is coming from. The “non-refundable vs. refundable” issue comes down to each party fulfilling their respective ends of the purchase agreement. If the “outside investor” (i.e. – third party buyer) fails to perform their end, then they’re basically forfeiting their deposit (it’s non-refundable). However, if the original seller (or you, as the wholesaler) fail to perform their end, then they should be ready to give the deposit back… because the deal is basically falling apart, and it’s no fault of the third party buyer who put down their deposit. Does that make sense? I’ll try to clarify this in the article above.
Started Speak with a Representative Christina Shackleton on May 16, 2016 4:08 am Business Tools Having your property refinanced for lower bill payments on the mortgage while maintaining the same rent price will allow you to generate more money every month. This will enable you to have an extra for maintenance and earn more passive income. It will also enable you to save up for new rental deposits.
How To Start A House Flipping Business Step By Step 86 comments What should a contingency clause on a real estate wholesaling contract look like? Let's Connect
Certain companies combine all aspects of the supply chain into one integrated company. For instance, a company could manufacture mattresses in the back room while retailing mattress in the front showroom. The same concept can be applied to real estate to varying degrees. For instance, a home builder will often build a subdivision and then sell off the homes one at a time to owner occupants.
This clause is good to have because it informs the title company or closing attorney that all closing cost will be a debit to the buyer. So when the title company prepares the settlement statement the contract states what the buyer is paying for. We use the word “traditional” because their may be other fees or liens that maybe associated with clearing the title and you as the buyer want to ensure you are not on the hook for paying those fees.
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Ben May 22, 2015 Thanks for all the information and answering all the people who have posted. My question is concerning the contract. First, the assignment contract between me and the person that I found that is wanting to sell or assign their house to me for a particular price. Do you have an example of how that looks. Second, the contract that would be between me and the buyer. Do you have an example of that contract that you can lead me to. I found something on BP but am not sure if that is what I will need. Of course, I will screen it through an attorney but I just wanted to see how this looks so that I can get a better understanding. So, if you can refer me to or post an example of both, it would probably benefit everyone. Again, it’s just an example. I understand. Thanks, Tracy Sharpe, Fort Worth, Texas.
3 Best Entrepreneur Books – Have You Read Them? Can you assign a real estate purchase contract in Pennsylvania? Hey Raja – thanks for your interest! The package should be available for the foreseeable future – I have no plans to take it down, so don’t sweat it!
7. Closing on the Wholesale Property Build a Rental Property Empire: The no-nonsense book on finding deals, financing th...
tikiesha allen on February 1, 2018 11:43 pm SLIDE SHOW April 13, 2010 at 5:21 am 4 Ways To Sell My House Fast With a MD Real Estate Attorney Pendergraft – The Pendergraft Firm
More News… What is a short sale? More News… Assigning a contract is perfectly legal. However, what people are doing to get from contract to assignment is frequently not. Driving to the Beach is legal. Driving 90 miles an hour to get there is not. Assigning a contract simply takes a few sentences to accomplish. Of course, a specific contract can prohibit assignment, but the law clearly allows it.
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