How To Do The Paperwork On A For Sale By Owner Property (real estate investing)

Рет қаралды 41,391

3 жыл бұрын

Chandler breaks down the entire process required to fill out the purchase and sale agreement. This video will help you know how to fill out the agreement if you land an off market for sale by owner deal.
Chandler David Smith has been investing in real estate for the last eight years. He currently owns over $14 million of rental properties and has gone through the purchasing process dozens of times. In this video, Chandler shows you how to go through the paperwork on a for sale by owner deal. He talks about picking the proper title company, filling out the purchase and sale agreement, and all the do’s and don’ts throughout the process. This video gives you everything you need to know to be able to lock down an off market deal. Filling out the purchase and sale agreement can be intimidating but it really isn’t something worth stressing.
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Пікірлер: 98

@ryanertz9884 3 жыл бұрын

Exactly what I was looking for. Simple and to the point! Thanks

@co2mc266 3 жыл бұрын

Yup my sister knows her stuff. Proud of you sis.

@Real.Estate.Report 3 жыл бұрын

I was super nervous doing my first FSBO but the title company is your best friend during the process.

@eleric3635 3 ай бұрын

Can you help me

@makingdecisons1677 3 жыл бұрын

No not boring video at all! Love these too keep it up chand

@JessicaGonzalez-hq9fb Жыл бұрын

Thank you very much so much for this video. It was very instructive.

@rachelheermann5665 Жыл бұрын

Thank you so much. You made an intimidating paper work less intimidating. I am ready to go, but I wish you were speaking from the seller’s side.

@jsk4502 Жыл бұрын

It is pretty much everything he said in the video, except turn it around and see it from the seller's view on closing costs. I had one buyer who tried to get me to pay all the closing costs plus a 3% commission back to him because he was a licensed realtor and said he felt like he should get a fee. I balked at it and because he wanted the property, he caved in on the fee and the closing costs. Also, let them do their inspection, but be prepared for them to come back and want a lot of things repaired or upgraded or want more money off. Be prepared to just say no at that point and wait for another buyer to come along if it is going to reduce your profits significantly.

@jtrentals2438 3 жыл бұрын

I find I love FSBO better than going through a realtor, because some realtors in idaho do some shady stuff. Purchase agreements are extremely easy to fill out and you just have to know how to negotiate with the seller. I love that you touched on some things you can't do in negotiation because of the type of loan you're using. This will save people from making mistakes in the negotiation process. I've been currently trying to get my first owner carry where they're not literally trying to rip you off with worst terms than a conventional loan. Wish me luck because I need it. Love your channel.

@RealEstateAndLandlordNews 3 жыл бұрын

Keep up with the great content Chandler!!

@seanlovesrealestate 3 жыл бұрын

What's annoying is that there are tons of different types of purchase and sales agreements. Wholesalers can also write their own version on a Word doc if they want :). In many purchase and sales agreements, there are also check boxes that determine who pays for what closing fees, which further complicates things. In short, get a friend who works at a title company who knows what they're doing and your escrow process will be smooth!

@phillipqin1186 2 жыл бұрын

Great video! Do buyers still need to hire attorney when having good title company as you found?

@scotteric8711 Жыл бұрын

Great video! I see an alarming Amount of videos like this with the comments turned off, but yours is not. It speaks volumes of your context.

@meowmix2731 2 жыл бұрын

Thank you, muchly.

@catherinebullock9748 2 жыл бұрын

Good video, but I would not skip the earnest money provision. Many states require consideration for a valid legally binding contract.

@GreggoryThorpe 3 жыл бұрын

I wish I would have seen this video when it came out and not 3 weeks late!

@natusfreedom472 2 жыл бұрын

Buying property from friend , agreed to pay appraisal price . No agents involved , so we would just need a title company and loan officer for the loan . Correct me if I’m wrong Thxs

@brucethomson5347 7 ай бұрын

Love this video! But when does the bank get involved. After the purchase agreement is signed by both parties? And I assume the title company will notarize it before it can go to the bank?

@gregarnet 2 жыл бұрын

What state are you Chandler? Can a title company outside the state where property is located and not the state of either buyer or seller be used?

@joedevitto6113 2 жыл бұрын

What does it cost about for the fees of the Title Co. i did sell my house about 15 years ago i paid 2k im sure it might of went up since then . I paid 1k for paper work and 1k for the insurance. , this paper work is available at the title office then , last time i paid for a legal form to fill out

@alg5870 2 жыл бұрын

Hi this may sound like a dumb question but does anyone know HOW or WHERE a person may be able to get a legitimate purchase agreement and associated documents? Is there a website or agency?

@bager1246 Жыл бұрын

staples

@scotteric8711 Жыл бұрын

Title company/real estate attorney. You can pay for online templates and have a notary sign it, but I would pay to have an attorney review it which saves steps and extra people involved.

@godsarmyonearth6065 Жыл бұрын

Is it the same procedure when you stay making payments instead of paying with a loan ?

@jazminsthesweetlife 2 жыл бұрын

Where did you find this document?

@u2b608 6 ай бұрын

Where do you Get the purchase agreement form?

@VictorTorres-rx7xv 7 ай бұрын

What if the seller has an agent but I am representing myself. Do I use the same contract or is there something different done?

@starwreck 3 жыл бұрын

just the video i needed

@V_TV 7 ай бұрын

Isnt ernest money like a insurance? What if they dont end up buying?

@adolpholiverbush5867 3 жыл бұрын

If your paying all cash no lender is it as easy as filling out the paperwork with the title company and sending the funds?

@perzer3177 2 жыл бұрын

is this considered wholesaling?

@gratefultedd969 Жыл бұрын

To bad about those big fat rings because she is an all around winner. But also great video bro. People really need to understand that we can buy without a realtor as long as you have a great title company. Love her though.

@sailakokitchen356 Жыл бұрын

how to get those paper work title companies or do I have to hire a lawyer to write,

@WRMRanch Жыл бұрын

at 9:05 are you talking to the buyer? or the seller?

@user-mu7gh3vj7k Жыл бұрын

Can we have a copy of your contract template?

@joeygarcia6783 10 ай бұрын

I need help with this

@TheVisionWeShouldShare 3 жыл бұрын

Great video. Keep the quality content coming!!

@gregorysmith884 3 жыл бұрын

Where can I get this paperwork? At the bank?

@lennymarsidi2605 2 жыл бұрын

I use Homepie, pay a little fee for everything you need, and they help you all the way you need till closing, try this new way to sell or buy house your self.

@jeffdorris5321 3 жыл бұрын

Nice work 🎆🎇✨

@perzer3177 2 жыл бұрын

do for sale by owner deals require an appraisal? or how does that work when you want to buy a beat up property but the owner wants to sell at market value? does the title company help with the requirements needed to buy any property?

@scilfilms2783 Жыл бұрын

They will typically help with that process. An appraisal is usually required if a loan is required for the mortgage.

@oldcomputer6785 3 жыл бұрын

Hi Chandler, what compounded annualized return has your real estate portfolio given you since you started?

@meg6gaz 3 жыл бұрын

I love Kylie!! She taught me so much when I first got into the real estate industry, she's amazing!

@stevemolina505 Ай бұрын

So technically you can pay someone cash money and buy a house ?

@tylerh8275 Жыл бұрын

Ive seen most for sale by owners not get any offers or nothing but lowballs then finally go with a realtor and sell right away for more. Commissions are negotiable people, u can find a realtor with a good rate 😉

@jsk4502 Жыл бұрын

It depends on the location. I say, go ahead and try FSBO first and try to save that commission. You can always fall back on a realtor if you need one later on. But 6% of nearly a million dollars for the average house around here is a lot of money.

@tylerh8275 Жыл бұрын

@@jsk4502 commission I paid was 2.8% all in….you’ll sell way less on ur own then on the open market and mls

@kfergus3662 2 ай бұрын

I sold my house as is and the buyer is paying closing cost

@spldrong 3 жыл бұрын

Valuable video

@fran2688 2 жыл бұрын

I was a little confused watching this video. If I'm selling my home (FSBO) I should have the buyer agent fill out that form. After all, they made 3%commission and all they did was bring a buyer🤷

@jenniferbmendezful Жыл бұрын

It is a transaction. Say you are getting a divorce- you want to be the one to file the terms. Granted, wherever you are at your real estate attorney will have this template contract and you can fill in and ask them questions if you don’t want to pay seller agent commission. Your attorney will have this.

@luckydogsanctuary 7 ай бұрын

who is Ernest and why would we need his money????

@chrisklupenger4999 3 жыл бұрын

I’m confused on how the title company can find you wiggle room and ways to save in your contract if they’re supposed to remain neutral?

@ChandlerDavidSmith 3 жыл бұрын

This is on their fees.

@therealmaxoutgold 3 жыл бұрын

Uno

@tylerh8275 Жыл бұрын

U end up getting way less money then when u sell on MLS with maximum exposure. Most all buyers use realtors when buying since its free. So realtors arent gonna show a by owner property. Its a hassle and most for sale by owners will be hard to deal with and want some ridiculous price. Plus you have no E and O insurance going private, good luck with that down the road !!

@tatiansantana7563 Ай бұрын

If you have a a title company do you still need a lawyer??

@Nournourhayati409 Күн бұрын

No from my experience

@MamaKat27 2 жыл бұрын

WHAT??? The seller paying half of buyers financing fees? NO WAY!

@mikaylastrong7622 6 ай бұрын

As a current seller, and running into SO MANY shady "investors" in just 3 days, that's where I stopped his vid. I totally get needing to make a profit, but trying to gouge an old lady with cancer trying to sell to get closer to her family (my situation) is, if not unethical, deeply disappointing. Money sucks the humanity out of people. And that side eye emoji shows he knows it bad behavior.