How to Write a Creative Deal Contract

1. Have a good real estate lawyer standing by, with whom you have cultivated a relationship

2. Study enough to have a decent understanding of real estate contracts. You don’t need to know everything, but basic familiarity will help you. 

3. Sit with your seller and write out on a legal pad everything you are going to do and everything they are going to do. Include all timelines and money that will be changing hands. Both of you sign the legal pad. Or you can start with a pre-printed generic purchase and sale agreement and hand-write special stipulations. 

4. Tell your seller your attorney will convert this into a proper contract with all the correct language required by law. They tell them you’ll be coming back to get the seller to sign the contract written by the attorney. 

5. Do that. 

It is entirely possible you and your seller will agree to something that is impractical or in some cases not allowed by local and state laws. Your attorney will catch this, inform you, and you and your seller can discuss alternatives. 

You can structure deals in many different ways and many things are legal and permissible if everything is in writing. And keep in mind, real estate contracts MUST be in writing, not oral.

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