How to use the Blind Offer Purchase Agreement

Title & Closing
1

I recently purchased the blind offer purchase agreement from the REtipster website and it looks great! Having said that, I do have a couple of questions. First, do I let the seller fill in their name and address on the purchase agreement or do I use the name associated with the property. For example, some parcels have the owner listed as "Smith Trust" while others have actual names such as John Doe. My final question is when to set the closing date on the purchase agreement. Should this be set 30-60 days after the expiration date or do you have another suggestion? Thank you REtipster for all that you do! You are a wealth of knowledge! -Kenny B

2

hey Kenny! I think I may be able to help a bit but just so you know I'm still at the beginning stages myself and have not done a deal so I take it as you will.


As far as the name and address I would fill it out yourself to make it as easy as possible for the seller. Maybe confirm with them that their info is correct before making the contract.

Also personally when I made my list I took out anything that had trust or LLC or something other then a real name just to make my first go as simple as possible

1 Like
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@kayarbe - pretty much what @jaydensdad7317 said. I would fill out as much as possible to keep it as easy and clear as possible for the other party.

I’ll set my closing dates for 45 - 60 days later, but I’m also using standard presort postage, which takes 2 - 3 weeks to arrive, so if you’re not using first class postage, but sure to bump out your acceptance deadline and the expiration date accordingly, to make sure they don’t expire before they even reach the recipients.

If you’re using letterprinting.net they’ll likely notify you if your dates won’t work with the timeline of your postage (in my experience, they offer much better customer service than some of the self serve websites).

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Thanks for the info @jaydensdad7317 @retipsterseth ! I am getting my first mailer ready now. The anticipation is killing me!

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@dirtdeeds said:

Seth Williams Does everyone self-close with the Purchase Agreement? I have only been using it when I sell on terms. Usually on an acquisition I just send the seller the Deed to sign and notarize.

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Some people sort out LLC's and Trusts from their mailing lists, but if you don't then definately merge them into your Name line on the offer letter.

Also, I leave 30 days (plus mailing time) for a date on the letter. People often send them back even after the date, bit I think it adds a sense of uegency.