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The Most Creative Real Estate Technique ever published to Control Properties Tip #45

Take your time when reading and understanding this powerful Tip #45.

45 Pay at Closing

To create a valid contract without a significant deposit, offer both negotiated funds and check funds. "An initial deposit of $50 in cash will be paid today to Seller. Within 5 business days, Buyer will deliver to the title company a check for $5,000 to be held until Closing." The $50 assures a legally binding contract, and the check is to be held (not negotiated) until closing.

QUESTIONS

How would you use this tip to your advantage?

Why do you think I suggest that this is a very powerful tip?

Can this tip get you in trouble? Why?

Charles Parrish

Listen every Monday, 7pm (EST) to a creative real estate interviews, this Monday, 1-218-486-1400, Pass code: 34061

Posted by Charles Parrish on 08/19/2007 09:53 AM

Comments (2)

check funds, nothing down, controlling real estate, business days, negotiated funds, no negotiated

2 Comments on The Most Creative Real Estate Technique ever published to Control Properties Tip #45

AUG

2007

I think you might have trouble if the buyer defaults and the check is bad.

On the plus side, someone could get into a deal for $50 and not need any more money unitl later. Seller is a creditor on the 5k. I can't see many of my sellers going along with it.

Thanks for your comment. If you are representing yourself, there is never a problem. Remember that the cehck is contingent on approval of lien and title. If you are representing others, make sure the know that they must make that check good. Always make all disclosures.

Since I do not represent sellers, I need to agree with you. But as a buyer, this technique has work for us thousands of time in Maryland for great profits.

Always disclose.

Charles Parrish

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