How to Fill Out a Real Estate Purchase Agreement (STEP-BY-STEP)

How to fill out a real estate purchase and sale agreement. That's exactly what we're going to be going over today. And I'm super pumped to give you this lesson, guys, because I've gone really in depth on exactly how I can teach you guys how to fill this thing out and even what it is. And not only that, you'll never have to watch another video ever again. I promise you on how or what a real estate purchase agreement and sale is, especially if you're a wholesaler. Okay. So guys, stay until the end of this video as well, because I'm actually going to give you my own, my very own real estate purchase contract that I've done millions of dollars with. So I'm hooking you up. All right, let's go for it, everybody. If you're watching this and you're like, who the heck is this guy? Who's this guy Nathan Payne? And why the heck should I listen to him? Guys, my name is Nathan Payne, also known as Professor Payne. I love teaching and I've done over $2 million in assignment fees and wholesale fees. And here's some of the deals that I've done, just if you don't believe me. All right. Also, I got my degree at BYU-Idaho. Now I didn't get my degree in teaching, but I did get my degree. So I have some authority. I'm not technically a professor, but I believe I have the skills to be a professor. So we're going to be diving into why I like to teach. If you guys are watching this and you're like, you know, why is this guy teaching all this stuff? Guys, teaching is my passion. I grew up and I wanted to be a teacher when I grew up, but you know, it didn't meet my financial goals. Unfortunately, in the United States, teachers don't make that much money. And I moved to Canada recently, and in Canada, teachers can make up to like 6 figures. And you know, obviously they make a lot over here. So, but anyway, I wasn't born in Canada. I just live here now. And that's why I like to teach because I do real estate and I've done it for several years. I know what works and what doesn't work. It's my passion, and I'm glad that I can combine the two and teach you guys how to do it. So, and these are just a few people, as you guys can see on the screen, that I've worked with over the last couple of years to help them achieve the goals that I've, you know, I've been able to help them. And today we're going to be going directly into answering the question that I get all the time: what the heck is a real estate purchase contract, and how do you use it, and how do I navigate the whole thing? That's what we're going to be going over. Now, if you guys are wondering, like, why Why is today's lesson even matter— matters? Like, why do I even have to care about this? This one document, if you do not understand how to use this one document, you know, you're not going to be able to do a lot of deals if you don't know what a real estate purchase contract is, right? So the bonus also is, if you stay until the very end of this presentation, guys, I'm going to give you my very own document that I've had an attorney draft up. I've done hundreds of deals and made million dollars— millions of dollars in transactions off of using this very agreement that I'm just going to hook you guys up with. All right, so again, if you're like, you You know, is it worth staying to the end? I think it is. Well, that's why I made it, right? But I'm going to hook you guys up with everything that I have. All right. So what the heck is a purchase and sale agreement? Most of you all probably already know what the definition is, but I'm here to teach you guys. Okay. It's a legally binding agreement. That's a document that's outlining the terms of a real estate transaction between a buyer and a seller. It's pretty dang simple. Now, a lot of people think you need like a specific contract. Really, you could even do a deal on a napkin as long as you, you make an agreement and you both sign. But the cool thing about having a contract like I have it, outlines all the things that you need to know so you do deals the right way and you are protected. All right, so why is it important? Well, like I just said, guys, it protects both parties, it secures your deal, and ensures clarity, and it's legally required to move forward with the transaction. Okay, so if again, if you're wondering why do I need a real estate purchase agreement, that's why, and that's what it is right here. Okay, now let me tell you about a story. You guys are going to love this story. This is Carl. Carl is one of the clients I work with, Okay, Carl has never done a deal. He's brand new to the industry, and he had a seller that he was talking to that was facing foreclosure. Okay, it was actually on Monday. There was an auction date set for Monday, and the seller didn't do anything to prepare to sell her home. She was just— I don't know what she was thinking. I thought she maybe she just thought everything was going to work out and no one's going to foreclose and take her home. But what Carl did is he said, hey, your auction date's coming up. We can stop the auction date, we can stop the foreclosure from happening, but I need you to sign an agreement for me to buy 'Obviously, we're going to buy it at a price that makes sense so we can at least get you something so you don't walk away with $0.' And the seller signed, right? He signed the agreement, and that it was over the weekend. And then Carl called the attorney, the plaintiff's attorney, the attorney that was doing— performing the foreclosure and getting everything— that was in charge of it. He called them and he said, 'Hey, I have a contract, right? If you guys can see this, I have a contract to purchase this home. I need you to stop the auction date. I need you to stop the auction and the foreclosure from happening.' Okay, now Carl, if Carl brand new, if he didn't know how to do this, the lady would have lost her home. She had about $50,000— I'm going to write this down so you guys can see— she had about $57,000 left on her mortgage and she— her house is probably worth about $225K. That's a big spread, guys. That's a big spread that she was going to lose out on. And Carl saved the day. He stopped the foreclosure. The attorney called him back, said, okay, I looked at your agreement that you signed. You did it the right way. Congrats. I'm sure— I don't know if he said congrats, but Carl was able to stop that lady from losing her house. Now he's working with her. To buy it. Okay, so that is the power of having— knowing how to use the, uh, purchase agreement that we're talking about right now. All right, shout out to Carl. Carl, congratulations, man. I'm really proud of you. Okay, so in this video, I'm going to be going over the key sections of a contract because it's easy for me to tell you that it's like, oh, you need a contract, right? But maybe you don't know how to navigate it. Now, I've had to use— read the contract hundreds of times with sellers to go through with it so they would feel comfortable. I wanted to make sure that they felt good about the decision they're making, and I like to read through contracts with sellers. Not the whole thing, just review it and pass by it, pass over it. I like to do this so people feel, um, comfortable, right? Because I want to eliminate all the issues that they might feel like they're having, any of the roadblocks. I don't want to just send a contract to a seller and then just cross my fingers and hope they sign it or they feel good about it, right? That's just not how I roll. Okay, so let's go over it, because if you've been having this question of like, well, I'd like to understand contracts more, I got your back. Okay, that's what this lesson's for. So when you sign an agreement, key, key sections on this, and I'm I'm going to be going over it more in depth in the next slides, but you want buyer and seller information, okay? You want to have the purchase price on there, which is obvious, right? You want the buyer's information. You want to clearly state the agreed amount that you agreed upon. You want to have your contingencies to protect yourself. These are contingencies, and there's going to be more of them. And you also, you need the signatures, obviously. If it's not signed, it's not a legit agreement. So that's, that's obvious. All right, so let's go into this portion of the contract so you know what it is. So it's pretty simple. Most contracts will say especially the one that you guys are going to be getting as I give you this. This contract is made on— that's the date. So today, what is that? Today's 12/20. Merry Christmas, by the way, everybody. Merry Christmas, it's coming up. Okay, love you guys, and I love Jesus. Okay, so, um, this contract is made on the date by and between seller— so let's just call the seller Nate okay, and whose address is 123 Main Street, right? And/or buyer— and this, by the way, this is and/or assigned, so this is a dead giveaway that the assignable contract, because it says right here and/or assigns. So this would be what we'll call Professor Payne, right? He's the buyer, all right? And whose mailing address— and this would be the address of the LLC, right? Let's say Professor Payne LLC, and this would be your, your registered LLC, or you can just do it in your own name. Okay, so purchase price. Okay, so later on in the agreement, you have to put the address of the property, pretty simple, 123 Main Street. You got to put the purchase price and then any additional terms like, hey, I agree to buy this house. I'm also agreeing to move the seller, whatever terms you want in there, right? I'm giving the seller like a post-possession, letting them stay in the property. You outline, you know, the post-possession terms, purchase price of $123K, whatever you want. Well, let's put zeros. Okay, next part is contingencies. All right, so understanding these is pretty important. Prorations, that's for taxes. Defects, want to make sure you understand, like, they're disclosing if there's any major defects. No judgments, no liens. When you're going to get possession, it outlines when you're going to have possession of the property. Inspection, this allows you— this says buyer has the rights to inspect the property. Contingencies, this contract is contingent on the buyer having the right to inspect the property. This contingency part is pretty important. I had an attorney draft up mine, like, this, this section specifically where it's very lenient. It's like very skewed over to the buyer where like you can basically bail if you don't like anything about the property. Okay, so this is a good clause that I have, and I'm not trying to get squirrely on anybody, but I like to be protected, right? And the risk of loss, that's like if anything changes in the property after you agree to purchase it, I believe. So acceptance, EMD, and more. I've seen a lot of these companies come out recently, like I'm not going to name any names, but they like will lend you earnest money, EMD. Guys, if you know how to wholesale right, you don't need to borrow earnest, you don't need earnest money from anyone. I've used the EMD from my buyer like every time, right? If you have a buyer, you're just going to use their EMD. You don't need to go borrow EMD from someone else. That's actually how I make my offers extremely strong when I'm going against other wholesalers is I say, hey, I can give you like $10K, $15K, $20K EMD down, and then I have my buyer My buyer puts down the EMD. But anyway, I haven't put down EMD in a long time. Why? Because my end buyer does it. So acceptance, guys, this is another one we'll get to later on the video. I don't really put an acceptance date because I don't send contracts and just cross my fingers and hope that they'll sign it. I actually do it on the phone with them, or if they don't sign it within like, you know, a day, I call them and say, hey, was there an issue? Right? Like, I don't think a deadline is going to make them sign or not. So I actually put N/A because they're either going to sign it on the phone with me or they're not. Okay, deposit, you know, I put $100 for EMD. And a lot of time they're like, well, why are you just putting $100 down? I just say, hey, look, we're going to buy your house quick, fast, easy, and convenient. So we can put as much money as you want down. But really, it's either we're going to do it or we're not, right? Like putting $5K, $10K, like we have our inspection period, we're going to check everything out. I can put more if you would like, but that's just usually put because I'm going to buy it, right? I'm either going to buy it or not. And they're usually cool with that. You can put more, it doesn't matter. But, you know, if you do $10 or $1, I think that's kind of weak. I've been doing $100 and no problem, right? No one cares. And again, if you're borrowing EMD, like, I think the issue isn't necessarily like the EMD. I think the issue is your credibility. Maybe they don't feel like you're going to get it done, so they want a lot of EMD down. But for me, I put less down. If they got something to say, then I'll say, I put more down. I'm just— that's what we usually do. We have a lot of properties we're buying. We just, you know, closing on or before. So that means if the seller's like, when are you going to close? Say, on or before this date, right? So 3 months out, right? You could say, um, so today we're in December, so you could be like 3/20/25, okay? So I'm going to close on or before this date at 5 o'clock, okay? So don't worry, it's going to be on or before. It could be, it could be like 2, 2 weeks from now if you want a quick close. We just put it out further just so we have time. We don't have to redo, you know, sign addendums to the contract and, and keep extending. And if they're like, oh, I want— I don't want to do that, that's fine, whatever you want, you know. Other agreements: buyer agrees to purchase the Property as is. Here it is. That's the as-is part of the agreement that makes your purchase, your contract say, hey, I'm buying this. I'm not requiring you to do anything to it. Contract subject to an acceptable appraisal. I never do that. I don't know why that line's in there, but whatever. I keep it in there. Buyer to pay all closing costs. People like that when we say, hey, we'll pay all closing costs. Usually when you purchase property cash or you wholesale it, the end buyer is willing to pay both, uh, both sides of, um, both closing costs. All right, so if you're like, Nate, What makes the contract assignable? Remember we talked about it previously, everybody, that like and/or assigns does it, but we actually have a part in our agreement that it says it like spells it out really like if you read it, there's nothing to like miss. You're not going to miss it, right? It says buyer may assign or otherwise transfer any buyer's rights, title and interest in and to this purchase agreement to a third party without the seller's consent or to novate this agreement with placement agreement with a third party, blah, blah, blah. I'm not going to read the whole thing, but this allows us to do it. 'How do I say this? How do I explain this to someone who's got a problem with this?' Say, 'Look, I have a lot of LLCs. I have partners that I work with. Sometimes I buy it in my LLC, sometimes we sign it to another LLC where they buy it. Either way, we're, we're going to buy the house for what we agreed upon. No problem.' So there's no— quit tripping about assigning. It's normal. I have like 3 LLCs, maybe even— I think I actually have 4 LLCs. It happens, right? Maybe I don't want to buy it within my LLC. It like that's Ventures of Nathan Payne, whatever. I want to buy with OfferOn Homes or any of the other ones. Okay, that's how I explain it. All right, in the event that the buyer defaults, the remedy is the earnest money. Okay, this is, this is really good. I got this from an attorney, and I'm not an attorney, guys, so like anything you're using from this, like, take it with a grain of salt. Like, I'm not telling you that like this is a perfect agreement or anything. Like, um, this is what I use. So this is what protects you from the seller backing out. It's If a seller signs an agreement and decides they don't want to sell or they want to sell to someone else, this allows you to record a memorandum of contract, enforce your rights and interests to the property. The memorandum is to protect the buyer's interest, enforce its rights to buy the property, right? So we're not in the game of forcing people out of their house, but if they're trying to backdoor and go somewhere else, we're definitely filing an affidavit memorandum and protecting our deal. I have another video on that, and if you're interested in that, just comment and I'll send you the link. Okay, time is of the essence. Marketing. Okay, this— we're telling them, hey, we have the rights to market. If someone's like, well, I don't like that you are going to market the property, you can say, oh, we just use that so we can pre-market the property and we can know like who— the interest level of who's in this property once we fix it or when we rehab it. If they have a problem with that, that's fine. A lot of this is just about just being transparent. If they have questions, just answering it the way it is. Hey, we're flippers, we're always looking to make a profit and looking for the best exit strategy. Buyer's disclosure. This one tells them that you are doing— you're working with them, your goal is to make money on this property. That's what you're saying. So this protects you in the sense that if you're, you know, you make money on a deal and they're like, well, you made money off of me, it's like, yeah, that's what I was in the agreement. You know I'm an investor now. So anyone can sue anyone, all right? Even if you have an agreement, anybody can sue anyone. So this does kind of state that you're a flipper and you're looking to do this for a profit, but But again, nothing really— I wouldn't say nothing really protects you because anyone can sue anybody. All right, I know that might be scary, but that's just how it is. All right, so signatures. I don't have much else to say for signatures other than get the buyer to sign here on the dotted line and the date. You're the buyer, this is you, Professor Payne, and this is the seller, Nathan Payne. Okay, and then the dates and whatever. You, you guys get it, we don't need to go over too much. And if you are wondering what this part of the contract means where it says seller acknowledgement prohibition I'll be honest, I don't know very well. Go ask someone else. When I get to this part, they usually don't have a problem. They just want to sign. Okay. And if they have questions, I just— I think sell acknowledgment. I do know it says basically like you both agreeing. No one like made you sign the agreement. We both agree. Now, if an attorney is watching this, he's like, yo, this dude has no idea what he's talking about. Hey, say something. I'd love to learn. Okay. I've done hundreds of deals with this contract. If I'm not perfect at explaining it, which I believe I am really good, That's okay. Now I got a bonus for you guys. You guys want a dang bonus? I got one for you. If you're thinking about doing novations, here's an attorney-in-fact that, uh, a company that I listed a property on the MLS with my wholesale agreement because I can, and they're like, yeah, that's fine. And I actually have it listed here. I can show you the, the, the property if you guys want to see it. I listed it with just a wholesale agreement on the MLS, and I'm not a real estate agent. But he's like, hey, by the way, in the future, get an attorney-in-fact signed so there's no issues. Because some, like, a lot of the MLSs are saying, hey, you need an attorney-in-fact in order list, not with like the old-school wholesale agreement that I'm showing you. So what is this? You guys are going to get this obviously if you wait till the end, okay? This is the attorney-in-fact. This is what allows you to do novation and sign listing documents for the seller, okay? That's what a novation is. You're pretty much just signing all the documents for the seller. Wholesaling doesn't have to be complicated or lonely. Join my free Facebook group, Painless Flipping: Wholesaling Real Estate Simplified, where we're building a community of wholesalers crushing their goals. You're going to get access not only to free training but tools and even one-on-one help to land your deal. The link is in the description, so don't miss out. If you guys are enjoying this demo— this, not this demo, this live presentation— a lot, give me a like, give me a subscribe. I appreciate it because we're not even done. I told you I was going to go in depth on contracts. There's a lot more to go over. We've gone over the structure of contracts. Now I'm going to show you guys exactly how to fill one out. What you're going to get on this walkthrough— you don't just get taught when you, when you're with Professor Payne. You get, you get shown. And I want you to try and work on it as we're doing it so you learn, right? Because if you're just watching me, you're not going to be able to just replicate it unless you do it along with me. So everybody get out your computers if you're watching, or your phones, and do what I do, or pull up another screen if you got a dual monitor. Let's go through this. So I'm going to show you the key input details to put in, uh, on a live demo. I'm going to show you how to write the contingencies to protect yourself, okay? And common areas where people mess up. So if you guys are ready to do it with me, go to this— type into Google PandaDoc. It's absolutely free. Forget DocuSign. DocuSign's not a fan of DocuSign. I used to use it, not a fan. PandaDoc is free. Let's go right into it. Let me show you guys. So this is the contract I'm going to be hooking you guys up with. This is the one I use. Again, wait till the end of the video, you're gonna— you're gonna get this, this contract. Let's fill this bad boy out. So you— this is PandaDoc. All you do is you upload. Let me actually do it for people who are like, they can't even— no offense, but for the guys that can't even figure out how to upload a document. Okay, I'm gonna— we're gonna go there. All right, so you go here to select a file. You're gonna go all the way to the agreement that you downloaded. If you guys do not know how to download an agreement, I might have to come over there and bonk you on the head. But all you do is you go here, you go to down— sorry, my screen's in the way, but basically you're the top left corner where it says file, and then from file you go to download, and you download it as a Microsoft Word or you download it as a PDF. Doesn't matter, but it's just file, download. That's it. All right, so you take this, you upload this bad boy, you convert it because It says, hey, do you want to convert this? Sure, why not? What the heck? You put in your email, in your, your name, blah blah blah, and then you continue. Okay, and this is the name of who you're going to send the agreement to. I already filled— I already got this pre-ready. I, like I said, I performed— I got this whole thing ready for you guys because I want to make sure I'm crushing this because I'm tired of people asking all these questions about contracts. Say, hey, I'm just going to make a complete video that's going to be the master class on what real estate purchase contracts are and how to fill them out. Okay, so right here This contract is made on— how do you fill this thing out, guys? You just pull over the date like I'm showing you right here. I already did it here. And by in between seller, okay, you go over here and you navigate between you and the seller. So in this situation, we'll say this is Nathan Payne is the seller. So you're going to pull over his information. Um, we're going to go over to text field and we're going to type in his name. All right. You just type in the name. Whose address is, you type in the address. And whose mailing address, again, sorry, this is for the buyer. The buyer, then you're going to go over here, you're going to pull up the buyer's information. Boom, type in the buyer's name. Boom, boom, boom, you're going to pull up another text box and you're going to put in the address of that LLC, that buyer's LLC. You're going to pull in the address of the property you're buying, the purchase price, Terms. Okay, so what are terms? Terms are like anything additional that's not outlined in the contract. Like, hey, you're going to let the seller stay in the house post-possession for 30 days, but you're going to hold back $10,000 from the money they get until they move out. Okay, that would be an example. And if they don't get out within 30 days, you're going to reduce how much they get by $100 for every day. That'd be an example. We've had to do that. I had our lives threatened because we, we did a deal with a guy that unfortunately was on meth. He wanted to stay in the property. We said, okay, you got 30 days. He didn't get out. We said, "If you don't get out, you're losing $100 a day for every day until maybe 20 days, and then you lose it all." And he didn't get out at all. And we were like, "We're going to take all your—" We called him multiple times, but he was just flipping, tripping out. And eventually he got out, but he's like, "Give me my money." I'm like, "Bro, you lost all the money according to the contract." And he just was threatening to kill a lot of people, which is terrible, right? But we ended up giving half of him, half his money back. All right. He should have got out. Anyway, it really slows the flow of the buyers, slows the flow. And I don't feel terrible about doing that, guys, because we, we let him stay in it for 30 days. We let another 20 days. He knew what was going on. All right, so that's what the terms are for. Put whatever terms you want and, uh, you know, that you agree on, right? So let's keep going. As we talked about, guys, as you're going through the contract with the seller— and I'll kind of give you a quick review of what it would look like as I'm going through the contract with seller. Now, I don't fill this out with the seller. I have it filled out before before I send it to the seller. And then once I have it filled out, I say, hey seller, before I send you the contract, are you by your computer or your phone so we can review this together? I want to make sure that we're on the phone together because I don't want any of this language to spook you. It's pretty normal stuff. I just want to make sure that we're on the same page. And you know, that's it. So if they're like, yeah, that's cool, so then you go forward. So you're just filling this out again before you send it to them. I don't like to send it— I'll say it one more time— I don't like to send it if I can do it with them on the phone so I can explain it. So as if I'm going through the contract with the seller, all I'm doing is saying, hey, This is normal contract stuff. This is a very basic standard real estate purchase contract. Just says we're buying the house on 123 Main Street for blank price. The terms is we're gonna let you stay in the house for 30 days, but we're gonna hold back some money until you move out, out of what you— the proceeds you get. Prorations, that's just for tax purposes, making sure that's all legit. There's no major issues with the property that you know of. We've discussed this. No judgments, no liens. You've told me that there's not, so no problem with that. Possession, obviously we discussed possession. We put it in the the terms that you're going to be able to stay in the house 30 days after inspection. We've discussed this as well, that we're going to need to see the house within, you know, 7 days due diligence period that we have so we can make sure there's no major issues that we've missed. The contingency part is just like we have the right to back out of the agreement if we see something we didn't know about that we don't like. It's pretty simple. Risk of loss— this is what I say. Now, is it exactly true? I'm not 100% sure. I've never had an attorney listen to me on my calls. But basically I just say, hey, this allows me to cancel the contract if something happens. Any major damages happen after we sign. That's basically what I think it means. Acceptance, say, hey, I didn't put a date because you're either going to sign it right now or you're not going to sign it at all. So, or we're going to figure out what's the problem. I usually have N/A there. Deposit, like we discussed earlier, it's $100. I just say, hey, we just put $100 down. The reason we do that, I don't even explain the reason we do that. But if I needed to, I just say the reason we do is we buy a lot of properties and We have such a short turnaround, we just don't put a lot of money down. If they're like, well, can you do some more? Be like, yeah, would that make you feel more comfortable? You know, is there any issue with the $100,000? Well, no, there's not. Okay, great, let's keep going. Close date, on or before— I put 2 months out. We discussed we're going to try and close as soon as possible, but there are some issues that we're facing with having to deal with the, the liens you have, or, you know, whatever. So instead of having to sign like a short close date, it's on or before. We're going to try and close as soon as we can, but we have it out so we don't have to always be extending this contract if it takes a little bit longer. As you can see here, Mr. Seller, you know, we're going to buy the house as is. We don't get an appraisal, but this allows us to get one if we need one. Uh, we're going to pay all your closing costs. This paragraph here just says we have the rights to buy in any LLC that we want. In the event that if we default, you're going to get our earnest money. But again, we're going to— can't— we're just going to let you know we're not going to waste your time if we can't buy the house. That's not what we do. And this just allows us, like, if we sign the agreement that— and by the way, I don't go over every line. I'm just doing this for you guys. Okay. So, and this says basically, if you sign, you're agreeing that you're going to sell to us, not sign with us and then try to sell behind our back, because then we have the right to purchase the house after you sign, obviously, or you wouldn't sign this, right? Oh no, I wouldn't sign it if I didn't feel comfortable. Of course, I wouldn't expect you to. Okay. Time is of the essence. We have the ability, or we are agreeing to close within the timeframe we said. We like to talk, you know, we like to market the property before we close on it just so we can be ready and we can move the deal as fast as we can because we're in the business of making money. This is to let you know that we are buying this to make a profit. We're a business. We're trying to make money. You understand that, right? Awesome. This is if there's any issues with, you know, attorney fees or anything, like we go to court. I don't go too in-depth for this. I just say, hey, this is just if, you know, things get crazy and we go to court. This just outlines how the attorney fees are laid out. Seller acknowledgement, prohibition— those just say, hey, we're both agreeing to this, no one made us. Okay, that's what I say. I say, okay, now I've gone through the whole agreement with you. Do you have any questions, or is there anything that would make you— would hold you back from moving forward? No, I feel pretty good about it. Let's sign. Boom, signed it. And if they're like, I don't know, I feel pretty lousy about you only putting $100 down for earnest money, I said, well, what would you like? You know, I can put as much as you want. It just depends what you, you know, I just, we just do that. That's just standard, right? And if they're like, oh no, it's fine, that's fine, let's keep going. Or if they're like, well, can you do $500,000? Like, I can give you $505,000. How's that sound? I can give you $605,000. I can give you whatever you want. Because in all reality, guys, what did we discuss? The buyer puts down the earnest money. All these lenders that are like, let me give you EMD, you don't need someone to give you EMD. If you have a buyer, the buyer puts down the EMD and you use their EMD. It's pretty simple. I don't know how this lending thing started happening. Do people not know they use the buyer's money for EMD? Anyway, and right down here, guys, if you want, I'm trying to get this signed every time. And I explain, hey, one of our extra strategies to selling the property is also putting on the market. So potentially we can find a partner to work on the deal with if we want, right? Or whatever you want to say. I haven't mastered explaining the Novate authorization listing docs that allows you to list it on the MLS., and do a novation. And what is that? That allows you to get paid by someone that has funding, like a family that has traditional financing versus cash. Okay, that was a demo of how to fill this out. And if you guys are like, well, you didn't show us how to put all the boxes— here they are, everybody. You just drag, you type, type in what you want, and then when you get to the very bottom, you just put the signature. You are the buyer in this case, so you would drag your signature over, okay, over here. Bam, bam, buyer, seller. You switch over and say, okay, the seller, let me drag the agreements over there. Like, let me drag the boxes over there. Hope this has been good, guys. Again, if you're watching this, if you could get— if you find this information useful, I'm diving— I'm doing a full deep dive on this stuff, so you will never have to watch another video again on how to fill out real estate purchase contracts and what the heck they are. So if you like this, give me a like, subscribe, or get actually a comment and a like. Just tell me where you're watching from. And that would help me out a ton because the more people that engage, the more the algorithm says, hey, this guy's actually producing some, giving out some good information if people like it. So help me out with that. I'd appreciate that. All right, guys. So let's go over some common mistakes. We're almost done. Some common mistakes that people might have as they're doing this. I know a lot of people fill it out and they send it sometimes to the wrong email. They might forget, like mistype it and not know if it got to the person., and they're like, oh man, did it, did it work? Check the email. Let's talk about some other common mistakes that happen. Forgetting contingencies, missing inspection clause, you can leave, uh, can leave you liable. So remember your contingencies in the terms part of the section. If you have additional terms you want to write down, leaving fields blank. Make sure that you put the closing date and you fill out all the, the right terms. And misaligned seller names. Okay, so pretty simple. I know some of the boxes can get kind of confusing, but just make sure everybody's the seller's box is for the seller, the buyer's box is for the buyer, and this who's signing and, and so forth. All right, so here's your next step, everybody. Join my free Facebook group called Painless Flipping Wholesaling Real Estate Simplified. If you're ready to take action and close your deals faster, this is where you need to be. You're gonna be getting live trainings, free resources, and support all along your way. Link is below in the description, so just click it there. And don't stop there, watch the next video here to learn more about wholesaling strategies that will help you get your next deal faster. Click it now and let's keep the momentum going.