Mailer Template Purchase Agreement

[Luke Mitchell]

Hey guys, hope everyone is doing well. Just curious how many of you send just the PA in the mailer from O2Os to the title company/attorney versus closing with another version of a PA, perhaps even as far as a state or Realtor version of a PA? I only bring this up because many attorneys have sort of chuckled at my PA I’ve used when I was wholesaling houses, as if to say they were short sided and too basic for such an agreement. Just wondering if the one used in the mailer is more of a barometer of testing the willingness of the seller, and then from there you utilize a more detailed and “professional” purchase agreement. Thanks!

Topic

[Kevin Farrell]

#28233

Luke – I normally use the second page of our offer letter as the PA that I send to the title company. I have not had any problems. It helps to present it with a short email note describing the purchase and target date for closing. I also always put the full contact information for BUYER and SELLER. And I attached the vesting deed if I have already pulled it. By providing this information with the signed PA I am telling the recipient at the title company that I know what I am doing and that I am a professional that they can deal with.

I recently was asked for an Amendment to a PA. I had it created, signed by both parties via docusign, and sent to the title company within the same business day. The reply to that was “I wish all of our customers where like you!”

Be that customer for your title company and they will work for you.

Kevin Farrell - Moderator
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[Luke Mitchell]

#28236

Thanks so much, Kevin! What’s the best and fastest way to get the Vesting deed? Would TitlePro 24/7 have that info?

[Laurie Phillips]

#28244

Hi Luke,

Yes, you can get them from TitlePro if they’re available online. If you can’t find it there and the county doesn’t have online recorded docs, don’t worry about it. The title company will find it.

Best,
Laurie

[Luke Mitchell]

#28245

Hey Laurie, thanks so much! Loved your recent interview by the way…you are doing great things and are an inspiration to us just starting out!

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