Make Sure Sellers Agree With Verbal and Written Agreement Before Signing

Transactional real estate engineers must always have deal
meetings with sellers. This call is for negotiation, for verbal
agreements, and to walk through the contract. Once everything is
clear and understood, sign the contract right away on the same
call!


In this episode, learn how to avoid deals falling apart and
seller misunderstandings before closing. Hear how to do double
closings and how to find out which lenders do them. Listen about
how to fund real estate deals. Discover how to handle a terms
deal in which a seller wants money immediately.


Finally, learn how to handle deals involving divorce decrees, and
how to deal with sellers wanting their own lawyers to get
contracts assigned.


Mentioned Resources:


Ron LeGrand

Cameron

Flipsimpli

ProTitleUsa

Craigslist



In this episode we covered:


00:04:41 – Avoiding a subject-to deal with a carryback from
falling apart before closing due to misunderstandings

00:15:17 – About a ten-packet cash deal contract that has
been signed, how to do a double closing, and how to fund the deal

00:22:10 – About a seller who has come back after three
months willing to do business

00:23:00 – How to handle a terms deal in which the seller
wants money fast

00:31:12 – How to deal with sellers wanting their own lawyers
to get contracts assigned and about trusts

00:39:43 – About trust transfer and whether if separate bank
accounts are needed for each trust

00:40:47 – Talk on a client’s concerns in a skinny subject-to
deal involving a divorce decree to the seller, ownership of the
property, and who is named in the mortgage

00:46:00 – Scenarios in which sellers don’t get back after
having sent the contract, and how to approach a seller who wants
to make a cash deal out of two separate houses on two separate
lots they own free and clear.

00:54:44 – How to prove a seller’s payment when they haven’t
sent back the authorization release form for a subject-to with a
carryback

00:56:16 – Searches that should be done once a property is
locked up, average attorney costs, and resources for title search

00:57:41 – Whether acquisitionists are allowed to go on call,
and pipeline program on client’s behalf

01:00:07 – What to say to sellers and how to approach them in
regards to the deal’s exit strategies

01:03:31 – Whether the 90-day program can be used to train
other team members in a personal business

01:03:57 – What to do if a buyer has locked in with a deposit
and then a second buyer pops up with more down payment

01:05:48 – Where to find documents for agreements and
declarations of trusts and taxes, and filling in the insurance
policy doc.

01:08:44 – Recommendations for lenders who do double closings



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


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Thank you for listening!