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By Nate Kennedy on March 12th, 2012
Forms Download
These are the very forms that we have used and revised over our years of investing in hundreds of properties. While we have found that they have worked very well for us, we want you to understand that we are not attorneys or accountants, and strongly urge you to review these forms with your professional team as you deem appropriate. We do not warrant nor imply that these forms will be sufficient for every situation in every state. We only say that they have worked well for us over the years, and we have made revisions as experience dictated.
With that disclaimer made, we really believe that these are a great set of forms for your real estate investing career. Our experience has been that this set of forms is sufficient for most types of transactions without being an overwhelming volume. The forms are all in “Word” format except for a few at the bottom which are in “Excel” format.
Affidavit Of Option File at court house to protect your Option interest in a property |
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Affidavit Of Purchase Agreement- File at court house to prevent anyone else from purchasing the property |
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Assignment Of Contract Use to assign rights to purchase property to another individual |
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Assignment of Mortgage File at court house to transfer mortgage holder from one entity to another. Used for selling mortgages. |
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Closing Checklist Use this form to follow-up on key tasks prior to closing, and to obtain key information at closing |
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HUD-1 Settlement Statement This is a sample of the form that the closing attorney will complete for a property sale. |
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Lead Interview Sheet Use this form every time a Seller calls you with a house to sell. It provides you with all of the pertinent questions to ask so you can critically evaluate whether there’s a deal available or not. |
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LO Option To Purchase- Buy Use this as your Option agreement for Lease Option (LO) purchases when you are the Buyer |
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LO Option To Purchase- Sell Use this as your Option agreement for Lease Option (LO) purchases when you are the seller |
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Payoff Calculation Use this form to quickly calculate the payoff for a loan that is not amortized. Interest is calculated on a daily basis. |
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Promissory Note This is our very simple 1 page Note when we are the Borrower. As a Lender, you may want more extensive and explicit terms notated. |
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PSA- Purchase This 1 page Agreement is used when we PURCHASE properties. It is missing many of the traditional clauses found in a Board of Realtors Agreement, or even in our SALES Agreement. The advantage of this form is that it is simple for Sellers to understand. You may, however, wish to review both of our Agreements, and determine if you want to re-insert any of the clauses for your protection. |
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PSA- Sell This is our lengthier version of the same Agreement with most of the traditional clauses, but re-worded for simplicity. |
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PSA- Termination This is used to officially terminate a Purchase & Sales Agreement. All parties must sign, and it outlines what will happen to the earnest money. |
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Quit Claim Deed Filed at the court house to transfer any rights an entity may or may not have in a property to another entity. Note: If the Grantor has no right in the property when they sign this document, you have no recourse against them since they are only transferring any rights they have – even if they have none. This is different than a Warranty Deed |
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Rental Application Reservation Complete when accepting applications from prospective tenants. This covers the terms of the application fee and requires a reservation fee to hold the rental unit. |
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Rental Pet Application Used to evaluate and document pet acceptance in rental units |
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Rental Property Intent To Vacate Tenant completes and submits to landlord to notify of their intent to vacate the property. |
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Rental Property Lease Use this lease for tenants occupying your rental units. It can also be used as the lease portion of a Lease Option transaction. |
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Rental Property Move-In Inspection Report Use this form when a tenant first moves into your property. Do NOT turn over the keys until they have signed this form. |
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Rental Property Periodic Inspection Report Use when inspecting rental properties during tenant occupancy to document findings |
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Security Deed This is the mortgage document which is filed at the court house to secure a loan with a piece of property. This mortgage works in Georgia which is a non-judicial foreclosure state. You should discuss the use of this form with your attorney prior to securing a loan. Note: The “Grantor” is the owner of the property. The “Grantee” is the “lender”. |
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Security Deed Modification Use this form when a change to a recorded Security Deed is required. A common example would be to extend the maturity. This must be filed in the original court house or town hall where the Security Deed was filed. |
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ST Disclosure- Buy Use to “Cover Your Assets” whenpurchasing a property “subject to” the existing mortgage. Do not be confused because the form is entitled as a Disclosure for “Subject To” Sales, this is the form to use when YOU purchase, but it is titled as the disclosure for the Seller when they are selling.The Seller acknowledges they understand the responsibility for the loan will remain in their name although the property is being sold. Have the Seller sign this form at the same time as the Purchase and Sales Agreement, then again at closing where you can have their signature notarized. |
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ST Disclosure- Sell Use to “Cover Your Assets” when selling a property “subject to” the existing mortgage. Do not be confused because the form is entitled as a Disclosure for “Subject To” Purchases, this is the form to use when YOU sell, but it is titled as the disclosure for the Buyer when they are purchasing. |
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ST Disclosure- Wholesale Use to “Cover Your Assets” when wholesaling a property “subject to” the existing mortgage.In addition to the original Disclosure used when the PSA was signed, the Seller is further acknowledging that they understand that the original Buyer is no longer responsible for the loan and that the new Buyer will take over responsibility. |
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ST Lender Letter Create this letter for the Seller to sign for “subject to” transactions notifying the Lender to forward all correspondence to you |
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Subject To Info Sheet Use this to ensure you capture all of the information you need from the Seller for a “subject to” purchase. |
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Warranty Deed File this at the court house to transfer ownership of a property from one entity to another. This provides more rights than does a Quit Claim Deed. |
