Category Archives: Contracts

Contracts

Dissection of ALL The Real Estate Investing Flipping Contract Clauses

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Click the buy it now link at the top for the full 17 page 9100 word full list of contract terms and uses……..

THE PARTIES

 

Contract Clause:

THIS AGREEMENT is made on this 1 day of May, 1999 by and between Bert Buyer, agent of Blah LLC and/or assignee, “Buyer” of 111 1st street., Hollywood, CA 90210 and Bell Mell of 333 St., Hollywood, CA 90210, “Seller.”

 

Notes:

The first section of a real estate agreement usually identifies the parties thereto.  Purchasers should carefully consider how to take title.  Personally, LLC, corporation, trust, joint tenants, tenants in common, tenants by the entireties, self-directed IRA, etc.  The best form depends on your intentions.

 

For example, naming a Limited Liability Company as buyer is an effective, low-cost way to limit liability to the assets of that LLC.  Additionally, the LLC can be used to create partnerships and raise captial.  When selling, avoid paying recording fees by transferring ownership of the LLC.  Buying in the name of a self-directed IRA may be ideal for buyers who intend to resell the property quickly – even before closing.  Buyers with few assets may simply take title personally.

 

Although the Right of Assignment is inherent in real estate contracts, this section can be used to specifically reserve that right.

 

 

ASSIGNMENT

 

Contract Clause:  (Pro-Seller)

Buyer will not assign or transfer this Agreement or any interest therein without prior written consent of Seller.  Seller may require as a condition of such consent (a) approval of the instrument of Assignment prior to the execution thereof, and/or (b) such consideration as Seller deems appropriate.  No permitted assignment will relieve Buyer of any of its liabilities or obligations under this Agreement.  Furthermore, no permitted assignment or transfer shall be valid unless and until Seller has approved and received a true and complete copy of the instrument of assignment, and delivered written consent.  Seller may grant or withhold its consent under this article in Seller’s sole and absolute discretion.

 

Contract Clause:  (Pro-Buyer)

Should Buyer assign this Agreement, Seller will hold Assignee responsible for all obligations in this Agreement and Buyer free of any and all liability.

 

Notes:

As seller, you want as much control over the contract as possible.  Clause 1 not only grants the seller control over assignment, it allows the seller an opportunity for a future profit.  Buyers should include Clause 2 in any purchase agreements they intend to assign, because it excludes them from liability after assignment.  (This clause is also included in the Default and Remedies clause below.)

 

 

INTENT

 

Contract Clause:

IN CONSIDERATION of the mutual covenants herein set forth and of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto intend to be legally bound.  This is a creative, non-adversarial contract of sale which presents positive and negative benefits to both Buyer and Seller to accomplish the financial goals of both Buyer and Seller.  Buyer will hold this property for long term or short term profit.

 

Notes:

This clause acknowledges the validity of the consideration and the intent of the parties to enter into an agreement.  Also, the clause discloses the buyer’s intent to earn a profit.  The purpose of the profit disclosure is let others (especially a judge) know that all parties entered into the agreement with open eyes.  By being open and up-front about your intentions, you will earn the trust and respect of the other party and avoid potential loss.

 

 

AGREEMENT TO SELL THE PROPERTY

 

Contract Clause 1:  (Property Conveyed In Fee)

Seller does hereby bargain and sell unto Buyer and Buyer does hereby purchase from Seller the following described real property (“Property”):  The real property known as 111 1st street., Hollywood, CA 90210 consisting of approximately 20 acres, together with any and all improvements, appurtances, rights, privileges, easements and other property interests existing thereon and benefiting, belonging or thereto pertaining and conveyed in fee.

 

Contract Clause 2:  (Additional Property)

Should a survey reveal occupation by the seller of land beyond the boundaries of the property herein described, seller will give Buyer a quitclaim deed at Closing to the land so occupied.

 

 

Click the buy it now link at the top for the full 17 page 9100 word full list of contract terms and uses……..

 

Contracts

Real Estate Flipping Investing Assignment Agreement Contract Pro-Assignor

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Click the download link above for instant access to the full contact and get flipping!

Assignment Agreement (Pro-Assignor)

 

This Assignment Agreement is made this _____ day of _______________ 20_____ by and between

 

______________________________”Assignor,” of _________________________________(address)

______________________________(phone)

 

and

______________________________”Assignee,” of _________________________________(address)

______________________________(phone)

 

WHEREAS

On                   date                 , Assignor entered into an Agreement of Purchase and Sale as Buyer of      property            in                    city                  for the price of            price                with                 name                , Seller, with Closing to be held on or before date                 .

 

 

Contracts

Acknowledgement of Assignment & Release of Liability Real Estate Investing Contract

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Use the download link above for the complete contract…..

Acknowledgement of Assignment & Release of Liability

 

 

This Acknowledgement and Release is made on this _____ day of _______________, 20_____ between _________________________”Buyer” of _________________________________(address) and _________________________”Seller” of _________________________________(address).

 

 

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