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Further
Reading ...
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Finding the Perfect Part-Time Home Business - Joe Bingham
The Internet has created a whole new era that's added incredible flexibility to business. Through an affiliate program, you can now have all the power of a dynamic, global company at your backing and still run it from the computer in your bedroom. ...
Setting up an Internet Business? Consider Drop Shipping - June Campbell
You've tried affiliate programs, but you'd like higher profits and more control over your business. You don't have your own products and you don't want to manage an inventory. Drop shipping might be your answer. Mail order businesses have used...
Top 5 Tips for Frustrated Affiliate Program Marketers - Isaiah Hull
Do you go through affiliate programs like most people go through pairs of socks? Many Internet marketers do. In fact, 97% of all Internet marketers never make a single cent advertising opportunities on the Internet. They jump from one opportunity...
Magnificent Meetings - 5 Tips for Success - Peter Murphy
It is already marked in your diary in red ink - MEETING. You wish you could skip it because you have so much work to do. Deep down though there is another reason you would like to avoid the meeting - what if a colleague puts you on the spot and you...
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Basic things you should know about a lease purchase contract
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Written By:
Amanda Shoemaker
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What exactly is a contract?
By definition, a contract is an agreement between two or more parties to do, or to refrain from doing, a particular thing in exchange for something valuable. The parties can be individuals, businesses, organizations and government agencies.
They key elements of a successful real estate contract:
1. Offer and acceptance
This implies original signatures with no alterations to the contract. Don't mistake offer and acceptance for counter-offer. When the original offer is marked up and initialed by the party receiving it, then signed, you got a counter-offer and not offer and acceptance. When you come to a final agreement, you should rewrite the contract according to the agreement and this contract must be signed by both parties.
2. Consideration
Usually, money is the form of consideration people use, but sometimes, a promise to perform/pay is also good. .
3. Written contract
All real estate contracts must be in writing. In order to write a good real estate contract, you must keep in mind these things:
You must write the full name of the parties on the contract and thus identify the parties.
You must have the legal description on the contract. Sometimes, the address will do, but it's preferable to have the full legal description. - continued below ...
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continued ...
By having this on the contract, you will have the property identified.
You must have the amount of the sales price on the contract.
The contract must be signed by all the parties involved, or it won't be enforceable.
Keep in mind that minors, drugged persons, mentally unfit etc, cannot sign any contracts. Make sure that all the parties involved are competent.
Make sure all parties know the essential details, rights and obligations that are stated in the contract.
What exactly is a lease purchase contract?
Lease purchase contracts combine the basic lease contract with the option to purchase and, during or at the end of the lease period, it gives the tenant/buyer exclusive right to buy the home under the terms to which both parties agree in the contract. But first, the tenant/buyer have to pay the landlord/seller a non-refundable option deposit that is applied to the purchase price of the home. Then, the tenant/buyer pays a sum that is typical to the rental amount and usually, it is done on a monthly basis. A portion of that monthly payment is applied to the purchase price of the home.
About the Author
Amanda Shoemaker owns a great directory of lease and lease purchase properties and houses for rent. Visit her site at http://www.leasebeast.com
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| _Additional Resources ... |
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Dealing With Business Slowdowns - Vishal P Rao
When times are slow for your home-based business, chances are you won't have the luxury of waiting and seeing if things improve. You'll need to take steps quickly to get back on track. These suggestions will help you get business back to...
Astonish Your Customers With These Customer Service Tips - Catherine Franz
Customer service today is getting worse. Win customers over and you build your business for life. Proven by the leader in the industry -- Nordstrom's. Nordstrom's customer service keeps improving and they continue to drive others out of business...
THE “SEVEN Cs”: PARTNERSHIP DANGER SIGNS - Competitive, Not Complementary Action - Dorene Lehavi
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble. Competitive, Not Complementary Action James Carville and Mary Matlin are public relations spokespeople for the Democratic and Republican...
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