Forums $10K a Month for Life; Cash Flow From Land Chapter 6 – Cash Flow From Land Do you always get the purchase agreement signed?

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    Greg B
    Post count: 5

    If a seller doesn’t mail back a signed purchase agreement, and instead call you to negotiate a deal. After you come to an agreement, do you still require a new agreement to be signed? Or do you just exchange a signed deed for a cashiers check via the local notary?

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  • Jill DeWit
    Post count: 464

    We still always have them sign the Purchase Agreement. Even if we work out a deal and they’re sitting in the bank parking lot to wire transfer the money, we would still have them sign it after the wire. Just good practice and an extra safety net.

    Barry Warren
    Post count: 19

    I agree with Erin’s post. It’s best to have something that shows a “meeting of the minds” stating exactly what was agreed upon should the need ever arise down the road.

    Chaz Albrecht
    Post count: 120

    Glad I saw this. I haven’t thought much about it just negotiated and sent the cashiers check. I’ll send a purchase agreement with the notary next time.

    Post count: 138


    Erin, I think Greg B was asking about when we are buying property, not selling it. Do you always do a purchase agreement when buying, too?

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