Forums +Resources for Success+ step by step layout to completing a transaction after the purchase agreement

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  • #29572
    Matthew McIntear
    Post count: 5

    What is a full step by step layout to do after a purchase agreement is signed? if needed include where the broker is added and the sells attorney

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  • Kevin Farrell
    Post count: 2176

    Matthew – You have posted several important questions and you need to know so much detail that I don’t know where to begin. I read all of your posts so I know that you have been getting information from podcasts and that is all good. You would do much better to join Land Academy and get the training to fill in all the gaps that you are asking about. Obviously, you know how to send out the offers but you need all the other steps to buying and selling land and that is what the LA training gives you.

    I will try to help you: Once you have a signed PA you then look for a funding partner. This is difficult because you may be accepting deals that are overpriced or may not be good deals for some other reasons like access, zoning, etc. You may not have the credibility that you need to present a “good” offer to a funding partner. That is why I always suggest that you do 5 to 10 deals on your own so that you will have the experience of buying and selling land before approaching a funding partner.

    I am concerned that if you are getting a lot of deals accepted that you might be giving overpriced offers. This is very common for new land investors and you need to learn to avoid this trap. Again, it takes training and experience.

    If you have a signed PA and the funds to purchase, then just email that PA to a title company in the county where the land is located and ask them to close the transaction with title insurance. This will cost you about $1200 to $1500 per transaction.

    Kevin Farrell - Moderator
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