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Purchase Contracts for Residential to 'Buy & Sell' RE
Terms in this set (10)
Is it important to take pictures while showing properties?
Very important to remember what things you want included in the purchase price
What kind of preliminary questions should you know?
1. Do you know what you want to offer?
2. How much down payment?
3. What do you want included or excluded?
4. When do you want to close?
Should you have a convo with your buyers in the house?
No bc there are cameras, nests etc. Have to convo outside
Prior to filling out contracts what do you need to do?
When your client wants to make an offer...
Call the listing broker to give them notice, ask how they would like to receive it? (digital, fax, etc.) Anything else we should know?
Once offer is in go to the office..
1. Access public records
a. Need owners name
b. Lien Situation
2. Get comps
3. Fill out contract and get oversight from overseeing employing broker
Once contract is ready to send..
Send email intro'ing yourself with contact information
-Phone and contact details for lender
What are 'income-residential' contracts?
They are for clients looking for investment properties
Is it typically required to get an appraisal for a loan?
With FIRPTA how much needs to be withheld for a purhcase price between $300-$1M?
10% of the purchase price needs to be withheld
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