The Commitment to Invest in Real
The Commitment to Invest in Abilene Texas Real
Where the Paper meets the
In several post over the last couple of weeks
Iâ€™ve outlined the process of Investing in Real Estate. How to select an
Investment Property, how to evaluate the investment and determine selected
property will render a return in the investment. If you are an Abilene Texas
Investor just now finding my blog in one of the many locations and want to find
them it should not be that difficult, My Facebook business page contains most if
not all, as well as my web site.
In this post I want to touch on what to do after
locating and evaluating the property. You have come to an offer price, Now What?
The State of Texas has made it fairly simple for Realtor with promulgated forms
(thatâ€™s a fancy word).
The Sales Agreement or Contract for Sale is
fairly simple well thought out by real estate Lawyers and developed over the
years of sale contracts. Your Realtor/Agent and you should be very precise with
the terms of what you are looking to do and when, as well as when you want
things done. The contract establishes a timeline outlines responsibilities and
leads the real estate transaction to closing. Timelines amended its just
paperwork to deal with (uhg). Simply Stated: Itâ€™s a legal
document used in the sale of real estate.
Examples if what you will find on the
Purchase Price, Down Payment, Deposits &
Escrow (where escrow goes), timeframe for agreements and accepted dates along
with any contingencies. Then there the proration's of Taxes, Insurances, Buyer
& Sellers Commission splits, Contingencies for Financing. Lets not forget
timeframe for title work, physical inspection, surveys pest inspections.
A lot of things have to take place to get the
deal done. Keep in mind an offer does NOT BUY THE PROPERTY,yes even full price
offers... You may get a counter offer on price, closing date, money down or just
about anything in the contract.
At this point there is still a long way to go to
get the keys in your hand and the property in your name.
Randy Dodd, Realtor, ePro, GRI, TAHS
Licence # 0583833
2301 Barrow Abilene Texas 79605
(325) 692-5275 Office
(325) 692-5277 Fax
(325) 733-4405 Cell Phone