I finally have 2 multi unit properties that I'm scheduled to look at Saturday. Putting ads on Craigslist paid off. I'm going to fake it till I make it on this one.
I need advice on how to go about this. What should I do first? I'm looking to assign this.
I know that the asking price on the properties are going to be at 65% FMV, that's what I told him I what I would buy them at. I did the comps.
I want to lock it up with a minimum deposit and have all the excape clauses in it. I'm not sure on how to fill out the P&S agreement. I do know to sign it "Name and/or assigns".
Do I open up an escrow account with the deposit and when do I do that? Do I let them know that I'm reassigning the properties and will they assist me in completing the P&S agreement and all other necessary documents correctly?
I did read about locking deals up/reassigns by dgadmin but I'm a little nervous about putting it under contract because I never did it before.If someone could guide me on what to do, I would appreciate it.
I'm getting closer to the prize!
I still have so many questions.