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Real Estate Investing Contracts on Toilet Paper
Even if your real estate contract has been written on toilet paper, it's valid. Content of your real estate investing contract is what's important. Your financial destiny in real estate investing is sealed BEFORE you walk into a real estate closing as a buyer. You have set inconcrete your profit (or loss) before you turn the door knob to enter the office of your attorney or title company at closing. The payoff of the transaction under anticipation is predetermined when the contract is signed between you as the buyer and the other party who is the seller. The interpretation of these cold, hard words is that you must recognize the importance of the real estate contract that ties together the property transaction. Your contract contains implications for determining profits in advance. When we strike a deal in real estate investing, we usually just reach for some pre-printed contract form that came from a real estate office or stationary store. We usually forfeit many of our closing rights to some stranger who put together traditional jargon and processes without recognizing that we ourselves have the right to charter this course. Subjecting ourselves to legalese of an attorney who may not even be a real estate investor nor own more than his own home is the pattern followed by most who purchase and sell real estate. The first order of business in writing contracts is understanding that any sale or purchase of property is negotiable. While the payment of certain closing costs may be customary or traditional for the buyer and the seller, we are not bound by this protocol. Without differing specification in your contract to dictate your personal direction, the closing agent simply resorts to customary convention. But by understanding your rights as buyer or seller of real estate property, you can actually INCREASE your profits on a transaction by the wording of your contract. However, these settlement terms must be in writing on your contract in advance of the closing. Otherwise, potential profits fly out the window. One of the most euphoric feelings I have ever experienced in this business of real estate investing was walking out of a closing with a check payable to me for $75,000 on a package of a few cheap real estate properties! As with anyone, I had a use for that cash! But those profits were dictated on my special personal contract in advance of closing. Much more cash at closing is available to real estate investors who take control of the options available by independently choosing wording in the content of their own purchase contract and sales contract. This choice is readily available to the real estate investing professional who understands these rights and applies them in the construction of a personal contract. The suggestion in this article is not legal advice but encouragement to take advantage of an opportunity available in real estate investing. This suggestion is not encouragement to become greedy with legal rights but to give notification that negotiation is available over the dictates of closing costs. Sometimes transactions are profitable only when these considerations are understood. Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. http://www.CashinHouses.com/ He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at http://www.RealEstate-Investing.net/business/flipping.html/ Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" at http://www.AAREIT.com/
MORE RESOURCES: Landmark Settlement Breaks Up the Real Estate Cartel The American Prospect Top real-estate CEO sees decades of housing pain ahead: 'What the Fed did will have a 30-year tail on it' Yahoo Finance Commercial Real Estate's Systemic Threat: Separating Fact From Fiction Commercial Observer Rules that helped set real estate agent commissions are changing. Here's what you need to know The Associated Press Refined Real Estate: Historic Queen Anne Polson House lists for $6,950,000 seattlerefined.com The Realtors' Big Defeat The New York Times Luxury's Latest Battleground: Real Estate | BoF The Business of Fashion Seabold Construction Ties Demise to Dispute with Real Estate Developer Engineering News-Record Local real estate agents face uncertain future with new negotiation rules WJHL-TV News Channel 11 Investigation underway after 44-year-old real estate investor seen on video firing shots off boat docked at Lakeview ... WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale Rules that helped set real estate agent commissions are changing. Here's what you need to know Lufkin Daily News What National Association of Realtors agreement means for Texas real estate KAMR - MyHighPlains.com Rules that helped set real estate agent commissions are changing. Here's what you need to know KXLY Spokane A luxury agent on how the NAR settlement will change his business The Washington Post What Seattle-area homebuyers should expect after national settlement The Seattle Times Cities Face Cutbacks as Commercial Real Estate Prices Tumble The New York Times National lawsuit could shakeup housing market, cut into real estate agent commission 11Alive.com WXIA CrewBaltimore’s mission to accelerate women’s success in real estate Afro American Newspaper Swimmo Invest Opens up a New Chapter in the Real Estate Industry Markets Insider Will March bring more madness to Craven County's real estate market? New Bern Sun Journal Realtor group will pay $418M to settle commission lawsuits The Associated Press Settlement will affect Iowa homebuyers KCCI Des Moines Realtors Reckon With a Seismic Shift to How They Get Paid The Wall Street Journal Pension funds snap up real estate at steep discounts Financial Times Israeli real estate event: Legal complaints escalate NorthJersey.com Once America's Hottest Housing Market, Austin Is Running in Reverse The Wall Street Journal A commission settlement may affect housing market 9News.com KUSA Making Sense of New York's Confusing Luxury Home Market The Wall Street Journal Illinois real estate: Home sales in Peoria, Tazewell, Woodford counties Peoria Journal Star Bay Area Real Estate Executive Charged with Wire Fraud, Identity Theft in Investment Scam - Hoodline What the death of the 6% real estate commission means in D-FW The Dallas Morning News Real estate commissions, unassailable for decades, could crumble after landmark settlement The Denver Post Is the Era of the Celebrity Real Estate Agent Over? Industry Reacts to Settlement That Could Slash Commissions Hollywood Reporter Foreclosures Are Rising—Especially in This One State—but Not for the Reason You Might Think SFGATE Rules that helped set real estate agent commissions are changing. Here's what you need to know News10NBC China's Real-Estate Market Just Set a Record—but Not a Good One The Wall Street Journal Real estate lawsuit settlement upends decades-long policies that helped set agent commissions WQAD Moline Chicago Voters Face Choice on Tax to Fund Homeless Programs The New York Times National Association of Realtors Agrees to Slash Commissions to Settle Lawsuits - The New York Times Manhattan Real Estate Update westsiderag.com Realtors Reach Settlement That Will Change How Americans Buy and Sell Homes The Wall Street Journal The NAR Settlement's Impact On Commissions And Home Prices Financial Samurai End of 6% real estate commissions could mean lower home prices The Atlanta Journal Constitution A Look Into the Future of Home Buyers' Agent Commissions The Wall Street Journal Artis Real Estate Investment Trust (OTCMKTS:ARESF) and Armada Hoffler Properties (NYSE:AHH) Financial Analysis Defense World Bridgemarq Real Estate Services (TSE:BRE) Share Price Passes Above Two Hundred Day Moving Average of $12.93 Defense World National Association of Realtors to cut commissions to settle lawsuits. Here's the financial impact. CBS News Agent Migration and the Power of New Mike DelPrete Blackstone, World's Top Alternative Asset Manager, Eyes Record Highs Amid Real Estate Bottom Investor's Business Daily Antitrust ruling rocks real estate: Buyers brace for shift in commission structures Straight Arrow News 4 Ways a Settlement Could Change the Housing Industry The New York Times Colony Ridge violated deceptive trade practices, Texas says The Texas Tribune Real Estate Stocks Drop As NAR Agrees to $418 Million Settlement Markets Insider 4 ways buying a home in D-FW may change after landmark Realtors settlement - The Dallas Morning News 4 ways buying a home in D-FW may change after landmark Realtors settlement The Dallas Morning News |
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