Ep25: 20-Year Proven RE Contract Clauses That PROTECT You From Losing Your Earnest Money Deposit, The Deal & More - Marco Kozlowski
Big Fat Real Estate Checks
Marco Kozlowski
5 • 957 Ratings
🗓️ 29 October 2020
⏱️ 37 minutes
🧾️ Download transcript
Summary
In this episode, we touch upon all that you need to know about contracts. We get into all the pitfalls with contracts and how to avoid them, we used some fascinating examples so that you are not only educated but also entertained.
WHAT YOU’LL LEARN FROM THIS EPISODE
- Things to keep in mind when drafting your contract.
- Do not send money to an agent or seller directly.
- How to avoid scams.
- There should always be a timeline for you to receive your documents.
- The due diligence period only begins once you have the information.
- How to save time and money with contracts.
- How to not get taken advantage of by sellers.
RESOURCES FROM THIS EPISODE
Click here for the free quick start course "Get Deals By Tuesday" Masterclass.
CONNECT WITH US
- Email: [email protected]
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
Transcript
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| 0:00.0 | 50% of the time they're going to say yes and 50% of the time they're going to say there's no way we're going to do that. |
| 0:05.0 | And that's okay. We're okay with either scenario. |
| 0:08.0 | It's just if we don't ask, we don't get every offer you never make will be refused. |
| 0:12.8 | Welcome to the big fat real estate checks podcast with Marco Kuzlowski, |
| 0:19.8 | where we help investors like you get the knowledge and skills you need to replace your J-O-B with passive |
| 0:26.3 | cash flow for life. |
| 0:28.3 | Hey Marco here, I really |
| 0:35.0 | strong and I know you will learn a lot. Our mics were not the best, but the content was really strong. |
| 0:39.0 | And I know you will learn a lot. |
| 0:41.0 | We had an absolute blast recording this and I know you're absolutely |
| 0:45.5 | going to love it as much as we loved recording it. This extremely content-rich |
| 0:50.2 | information will not only give you the edge in your real estate investing business, but in everyday life. Enjoy. |
| 1:00.0 | Welcome to another episode where we're going to be discussing contracts and the kind of fun clauses and fun additions that we've implemented into our agreement over the last 20 years that allows us to protect ourselves, |
| 1:15.0 | a level the playing field to make sure that more of a control position |
| 1:19.0 | not necessarily have to deal with shady sellers. |
| 1:22.0 | What I mean by that is it can be common practice in |
| 1:25.4 | commercial real estate specifically where we go under contract we have a certain |
| 1:29.3 | amount of days for due diligence and then we have a certain amount of days to close. |
| 1:33.6 | And in some instances we get a property to contract, at least in the past. |
| 1:38.5 | We wait for due diligence documents that never arrive. |
| 1:41.0 | The seller does not give it to us. |
| 1:42.9 | There is no stipulation in the agreement |
... |
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