Drawing up a contract is one of the most critical aspects of closing a real estate deal. Once the terms have been agreed on the sale, it is the quality of the contract which ensures that the deal goes through smoothly and the property changes hands in a timely manner.

There are four main types of real estate contracts; the one most will be familiar with is a purchase agreement. This is a standard contract between the buyer and the seller which outlines all the details of the deal, including the purchase price and the closing date.

Real estate investors need to be familiar with the other types of contracts too. Assignment contracts are usually used in wholesaling, as the “assigns” section allows investors to claim the property and quickly pass it on to a new buyer.

Lease agreements are used by landlords and tenants, while power of attorney documents are ideal for investors who want to take a backseat deal. NexGen Invest covers all aspects of contracting, providing investors with the security of knowing that the paperwork will be present, correct, and watertight.