Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.
* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…
* How to have a buyer or renter before you even buy property…
* How to have them already pay you money before you sold them anything…
These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.
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Hi! It's Lou Brown. With another one of my 101 ways for
real estate investors like you to win, close more deals and accelerate your
cash flow. Today's tip is number 11. "Have the seller pay all closing
costs". Alright, so I have a contract that I've spent many years putting
together in my career. There's 40 plus years now. I've been buying, selling and
holding property and I created something called the Standard Real Estate
Purchase and Sale Agreement. Now I'll just take this one clause and focus on it
because I talked about the agreement in tip number 10 so let me tell you about
this particular clause. Now this is our Standard Real Estate Purchase and Sale
Agreement. It is loaded with profit centers, protection and negotiation for
you. And this particular one says.
real estate investors like you to win, close more deals and accelerate your
cash flow. Today's tip is number 11. "Have the seller pay all closing
costs". Alright, so I have a contract that I've spent many years putting
together in my career. There's 40 plus years now. I've been buying, selling and
holding property and I created something called the Standard Real Estate
Purchase and Sale Agreement. Now I'll just take this one clause and focus on it
because I talked about the agreement in tip number 10 so let me tell you about
this particular clause. Now this is our Standard Real Estate Purchase and Sale
Agreement. It is loaded with profit centers, protection and negotiation for
you. And this particular one says.
"Seller will pay all closing costs, to include
recording fees, intangibles tax, credit report, funding fee, loan origination
fee, document preparation fee, loan insurance premium, loan discount, title
insurance policy, attorney's fees, courier fees, overnight fees, appraisal fee,
survey transfer tax, satisfaction recording fees, wood destroying organism
report and any other costs and fees associated with funding or closing this
agreement, BUYER will pay all additional monies".
recording fees, intangibles tax, credit report, funding fee, loan origination
fee, document preparation fee, loan insurance premium, loan discount, title
insurance policy, attorney's fees, courier fees, overnight fees, appraisal fee,
survey transfer tax, satisfaction recording fees, wood destroying organism
report and any other costs and fees associated with funding or closing this
agreement, BUYER will pay all additional monies".
Isn't that fantastic?
"All taxes, rentals, condominium or association fees,
monthly mortgage, insurance premiums and interest on loans will be prorated as
of the date of closing".
monthly mortgage, insurance premiums and interest on loans will be prorated as
of the date of closing".
So what happens is that this clause is already in the
agreement. And many times our clients don't negotiate. They just simply go
along with it. Now of course it's negotiable. So you could strike out seller
and put buyer. The other way you could fix it is actually say, well, you will
pay the first $500 or seller will pay the first $500 of any closing costs. And
then you'll pay the difference. So of course everything in the agreement is
negotiable. But if it's already built that way, many times people don't
negotiate.
agreement. And many times our clients don't negotiate. They just simply go
along with it. Now of course it's negotiable. So you could strike out seller
and put buyer. The other way you could fix it is actually say, well, you will
pay the first $500 or seller will pay the first $500 of any closing costs. And
then you'll pay the difference. So of course everything in the agreement is
negotiable. But if it's already built that way, many times people don't
negotiate.
I'd love to share more of my profitable tips with you. I
hope you've enjoyed this one and you will use it. I know it will make a
difference in your profits. How can you get more of my tips? Well, depending on
where you're seeing this. I'd like you to like it. Or love it. Or comment on
it. And subscribe. Share it with your network too. Thank you for watching. And
I hope to see you soon. Yeah, baby! Thank you.
hope you've enjoyed this one and you will use it. I know it will make a
difference in your profits. How can you get more of my tips? Well, depending on
where you're seeing this. I'd like you to like it. Or love it. Or comment on
it. And subscribe. Share it with your network too. Thank you for watching. And
I hope to see you soon. Yeah, baby! Thank you.
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