839 » Why You Should Consider Using Realtor’s Contracts » REI In Your Car

from Real Estate Investing Mastery Podcast

First of all, before we get started today, I want to tell you to take everything I say with a grain of salt, and that you should definitely consult a real estate attorney when dealing with legal matters. But now that I have that out of the way, I want to offer up some creative ways for finding and using realtor contracts as the jumping-off point for your own contracts. One of the benefits of using a realtor’s contracts is that they’ve already been written by a lawyer. These contracts have already been written with the local city, municipal, county, and state laws in mind, so any tricky local laws you might run up against have already been accounted for. You could straight up ask a realtor friend for one, or you could get your own real estate license so that you could access one, or you could ask a realtor’s association for one. Some of the associations might copyright their contracts, so you’ll have to tread lightly if that’s the case. When I use these contracts and come to the part for the broker stuff, I just cross it out and write in big, bold sharpie, “Non-brokered transaction”. Or, if you want, you could cut and paste the relevant part of the contract out for your own use. You really just need the right language for your contract, which these provide. The bottom line is, review the contracts you do use with a real estate lawyer. Find an investor-friendly, creative type real estate lawyer to sign off on your contract. I’m closing with some examples of how a contract protects you, why you need a standard purchasing agreement in place, and how to find the best eviction attorney in town. If you do decide to become a realtor, I’ve been working with Keller Williams for years, and I’ve been really happy with them. If you head their way, tell them I sent you. What’s Inside: —How to find realtor contracts. —How to find a great eviction attorney. —At what stage you should partner with a real estate attorney. —Why having an airtight contract protects you.

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This episode was published on February 19, 2020.

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