MULTISTATE FORM US-00472B CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE NO BROKER - VACANT RESIDENTIAL LAND WARNING THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL. FOR VALUABLE CONSIDERATION OF TEN DOLLARS and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged Seller whether one or more and and agree as follows AGREEMENT TO SALE AND PURCHASE Seller agrees to sell and Buyer agrees...
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I mark the land ich here let's talk about those three fatal mistakes that I see the average real estate investor making every single day first big mistake you've got to call the County Recorder and confirm that that seller owns the property so what do you do first of all you find out exactly what county that property is located in then you quickly go on neigh co.org if it's wwa org that lists all the counties in the country do a quick search you can do the state you can do the county whatever you want to do but make sure you go there then all you need to do is if you don't want to talk on the phone you can email the recorder and simply ask whom owns this property at this legal description they'll email you back or they'll tell you it's frontier equity properties LLC when was it recorded and that gives you a good clue as to how long did that seller even own that property are they buying it for long term are they flipping it what's going on with that property kind of gives you a little bit more in the story anyways so now you've got that information we're going to email our seller now and say hey can you fax me or email me a copy of your recorded deed for that property when they do it we're good to go if it takes some time a little sketchy if they don't do it at all don't buy the property what I've seen is people go online and they can just easily copy now whatever ad is online and say hey that's my property they can use a fake PayPal account or a fake escrow account and take people's money the typical term for this is a phishing scam that is the number one fatal mistake that I see people make you've got to confirm that that seller owns that property otherwise who knows what you're getting into now there are where I've actually sold property under an option and that's a whole other ballgame because I'm just controlling that if that's the case then you need to have a copy of the option agreement to see that they are controlling that property otherwise look out not a good thing at all all right second most fatal mistake I see the average real estate investor making online is they get real excited about a property they're going to build their dream home there or they're going to put their RV on the property and they're just going to camp out and hang out six months out of the year or they're going to raise sheep they're going to do something cool on that property but they don't confirm with the county planning Zoning Commission if what they're use for that property is allowed and so they'll invest thousands of dollars ultimately to be disappointed and 99.9% of the sellers out there they don't guarantee that property you're stuck with it and now whatever dream you had to do on that property is wasted and then you've got to go on and try to resell that property it's a whole hassle and just a big ball of disappointment so what do you do like we did with the first mistake we've got to contact the county planning Zoning Commission we're going to go back...