The Real Estate Purchase & Sale Agreement Download & Guide

In this section, we’ll be going through the contract line by line with simple explanations so that you come out of this section with a good grasp of how the contract works so that you can effectively put it to use in your business.

Buckle up, pay close attention, and let’s dive into the details of the Purchase & Sale Agreement.

This section details the nuances of what I call the "Sell-Side" Purchase & Sale Agreement.

This contract is used when double-closing a wholesale deal.

It's a VERY IMPORTANT contract to have in this particular case.

Let go through the contract line by line and learn how to use it effectively.

In this lesson, we’ll go through the contract files that are downloadable as part of this course. There is a PDF file and also an ODT file.

The PDF is the one that I call the “working copy”. It’s the one you’ll use to print, email, or otherwise use to get business done.

The ODT file is the one that you can personalize, edit, export, and modify. It’s the one you can use to make any changes you need in order to make the document your own.

Remember, your downloads are available in the final lesson of this course.

Another important thing to remember is that I am using a Macbook Pro computer running Open Office during these videos. If you’re on a different machine, your screen is going to look different, but the general functionality should be very similar.

The primary function of the Purchase & Sale Agreement is to establish equitable interest in a piece of property you intend to purchase, but as the name would suggest, it’s also commonly used to sell property.

Now, within this course we cover 2 different versions of the Purchase & Sale agreement and I want to make an important clarification as to why there are 2 different versions.

The reason for this is specifically if you intend to wholesale Real Estate by means of a double closing.

During a double closing - or a simultaneous closing (as it’s also known by), you will be acting as both the buyer & seller at the same time.

On the 1st transaction you’re the buyer (which requires a contract between you and the Seller), and on the 2nd transaction you’re the seller (which requires a contract between you and your Buyer).

The reason for 2 different contracts, instead of just using the same contract on both closings, is because each one is strategically written in order to give YOU the power, leverage, and protection needed to effectively close the deal without taking risk, and without potentially losing your earnest money if the deal falls through.

In other words, each contract gives special considerations and power for the specific role you are in. In this way you are always in control and not at risk, even though you are simultaneously the BUYER and SELLER when closing a wholesale deal by means of a double closing.

While the SELLING version of this contract is really only useful for double closings, the BUYING version, also known by myself as the “standard version”, is the one that you’ll want to use when simply buying a property for any other reason, such as for rental property or to fix-&-flip.

If you are simply pursuing a “typical” Real Estate purchase, the standard Purchase & Sale agreement that I’ve provided is the one you’ll want to use.

Don’t let its simplicity fool you.

It’s intentionally designed to be as simple as possible so that it’s very easy to understand without intimidating sellers with a bunch of fancy legal language, but even though it’s short & simple it still packs in features that you want to have in order to establish and maintain control of your Real Estate purchases.

With this contract you’ll be able to secure houses, maintain control, and also protect yourself from potentially losing your earnest money or even exposing yourself to greater liabilities.

The Purchase & Sale Agreement has allowed me to successfully close over 300 Real Estate deals thus far. It’s been a very handy contract to have, and I know you’ll get a ton of value putting it to work in your own business.

So from here there’s only 1 more lesson left, but it’s one that you definitely don’t want to miss!

YOUR CONTRACT DOWNLOADS:

Within this bonus lecture, you'll find both a PDF and ODT version of the contract.

Go ahead and download them to your computer, personalize them as you see fit, and start putting them to use.

SPECIAL BONUS:

Download your free copy of my Repair Estimate worksheet! This is a very handy for that you can use to help accurately size up repair estimates, which will ultimately result in getting more offers accepted.

EXTRA SPECIAL BONUS:

I'd like to extend an invitation for you to download a complete set of my own personal Real Estate contracts. This set of contracts has been painstakingly developed over the last 15 years of active use. They've been scrutinized at a cost of over $10,000 by multiple Real Estate attorneys. All together this contracts package puts you in. a position to profit from a WIDE range of investment opportunities such as rentals, flips, and wholesale deals.

Download the complete set for just $7 by visiting my website ContractsFor7.com.