Remember, regardless of the type of purchase contract you use, the purpose of the contract is to communicate. The more straightforwardly the purchase contract states your intentions to the seller, the easier it will be for the seller to understand what you are trying to do with your offer. If the seller understands what you are trying to do with your offer, then it is more likely he or she will be predisposed to accept your offer. In other words, the simpler your purchase contract is, the better.

Assignment A real estate assignment allows you to take any contract and make Quick Cash by assigning your interest in the contract to someone else for a fee. The important part is for you to write every real estate contract with the clause and/or assigns as part of your name in the buyers name section of the contract. This will give you the right and ability to assign a contract of whatever kind to another buyer for a fee.

Presenting Your Offer

The purpose of presenting your offer is to have the seller accept it. There are three responses a seller can have to your offer. The seller can accept your offer. The seller can counter your offer. The seller can reject your offer. If the seller accepts, you have a contract. If the seller counters, you have something to work with. If the seller rejects and says no, you may be at a dead end. You dont want the seller to say no.

You begin building rapport the moment you start an interaction with a person. We have found that smiling at, being respectful toward, and being complimentary to a seller builds rapport. You also have to be energetic and upbeat when you interact with a seller to instill the belief that you can get a real estate transaction done.

We go into every transaction with a seller with a win-win attitude. We want the seller to win, and we want to win. You will find that as a real estate investor, getting a good deal is easy. You just have to ask. When we make an offer, we want to get a good deal. We find that when we get a good deal,we are solving a problem for the seller-especially the seller in the foreclosure process. That makes it a win-win for the seller and for us.

Where to Present Your Offer Always present your offer at the sellers kitchen table. Arrange to sit at the head of the table with your back to an outside wall. You want the sellers attention focused on you, not what is going on in the rest of the house.

Closing

By presenting your offer at the kitchen table, you convey that this is a business situation. If you present the offer in the living room, it conveys a social interaction. Ask that televisions and radios be turned off. Do not accept an offer of food. Accepting an offer of a beverage (nonalcoholic) is fine.

When to Present Your Offer Present your offer within 72 hours of seeing the property for the first time so you will convey a sense of urgency and interest to the seller. Sellers want to know if you are a serious buyer. Serious buyers take action in a timely manner. When you are working with the owner in pre-foreclosure, we recommend you make your offer after you make the foreclosure options presentation.

Closing

In our Quick Cash in foreclosures system, you may wind up receiving money directly from another real estate investor without going to a closing. You could be flipping a property before the closing. You could be assigning a purchase contract or an option contract to another investor, who will then go to a closing with a seller. You will get a feel for when you will go to a closing and when you will not.

Escrow

Understanding how the escrow closes can make you comfortable with a process many buyers and sellers find very confusing. Escrow is a type of closing in which you and the seller deposit money and/or documents with a neutral third party-the escrow holder. You and the seller give the escrow holder instructions to hold and disburse documents and funds after certain conditions are met.

An escrow is complete when all conditions listed in the escrow instructions are met and all acts specified in the instructions are performed. When an escrow is complete, the escrow holder disburses the funds and documents to close the escrow.

In its simplest format an escrow would have the buyer put the money in the escrow account at the opening of escrow. The seller would take the money out of the escrow at the closing of the escrow. The seller

would put the deed to the property in escrow at the opening of the escrow. The buyer would take the deed to the property out of the escrow at the closing of the escrow.

Many things are occurring during the escrow period: termite inspections, physical inspections, money partner inspections, geological inspections, title searches, procuring hazard insurance, obtaining financing, preparing loan documents, calculating closing costs, preparing deeds, and so on.

Opening an Escrow Consider choosing an escrow holder who is willing to take the time to explain what is happening and what you need to do. Choose a company that is located a convenient distance from where you live, so you can sign and deliver documents or money easily.

Depending on your area, the party that acts as the escrow holder can include independent escrow companies, escrow departments of lending institutions, title insurance companies, real estate brokers, and real estate attorneys. You may find that your area does a closing with an attorney rather than conducting an escrow.

The Buyers Day The day the escrow closes is considered the buyers day. What this means is that all the prorations of property taxes, hazard insurance, mortgage interest, and property rents are figured on this day.

Lets say the escrow closes on the 14th day of the month.The seller is responsible for paying the property taxes, hazard insurance, and mortgage interest through the 13th day of the month. If the property is receiving rental income, the seller is entitled to receive a prorated share of the monthly rent through the 13th day of the month. This is because rents are paid in advance, usually on the first day of the month.

The buyer is responsible for paying the property taxes, hazard insurance, and mortgage interest starting on the 14th day of the month. If the property is receiving rental income, the buyer is entitled to receive a prorated share of the monthly rent from the 14th day of the month until the end of the month.

Closing Statement Once the escrow closes, a closing statement is prepared by the escrow holder. The closing statement is set up as a debit and credit accounting. The purchase price appears as a credit to the seller and a debit to the buyer. Any rental security deposits will be credited to the buyer and debited to the seller. Everything else will be pro-