Real Estate Forms Portfolio

A Comprehensive Collection for Real Estate Investors

THE PROFESSIONAL EDUCATION INSTITUTE 7020 High Grove Blvd., Burr Ridge, IL 60521 (630) 325-8700
REAL ESTATE FORMS PORTFOLIO

Throughout this portfolio, we have provided forms that real estate investors find very useful. These are your master copies. It should be noted, however, that a form cannot replace the advice of a competent legal professional. Therefore, it is recommended that professional advice be sought.

The Professional Education Institute has attempted to provide you with the best forms for the situation. In several instances, more than one version has been provided for use in different circumstances.

These forms are meant to be copied by the students of Carleton Sheets for use in your real estate investing. Simply make photocopies whenever appropriate and fill in the blanks. Other duplication or inclusion within another publication is prohibited unless permission is expressly given by The Professional Education Institute.

© 2000 by The Professional Education Institute All rights reserved. 5th Edition 2000.

The forms in this portfolio have been collected by Carleton Sheets over his investing career. Everything you need is included to start your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

Planning And Scheduling Finance Weekly Planner Installment Note
Weekly Priority Schedule Mortgage Mortgage Loan Record

 

Analysis Of Property Promissory Note Seller Information Form Buyer's Property Inspection Report Lease/Rental

 

Property Analysis Form Rental Application Cash Flow Analysis Month-To-Month Rental Agreement Property Rehabilitation Analysis Residential Lease With Option To Purchase Market Sales Analysis Residential Lease/Rental Agreement Pet Agreement And Waterbed Agreement

 

Acquiring Property Agreement For Deed Property Management

 

Real Estate Sales Contract Move In/Move Out Form Addendum Deposit Note

Attorney Approval Quit Claim Deed Closing Statement

Bill Of Sale Affidavit And Memorandum Of Agreement Monthly Income Record
And Expense Allocation Summary Extension Of Lease
Permission To Sublet
Tenant's Mandatory NoticeTo Landlord Of Intention To Vacate Notice Of Overdue Rent

Payment Agreement
Landlord's Five-Day Notice
30-Day Notice To Terminate Tenancy

your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Planning And Scheduling Weekly Planner

 

1 Anticipate the time available for your investing activities 1 during the week and record it in this form to schedule

 

their completion.

 

Weekly Priority Schedule 2 Determine the relative importance of things to do and 1

schedule them on this form.
your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Analysis Of Property Seller Information Form 3 Use this form to record information from telephone 7 discussions with sellers.

 

Buyer's Property Inspection Report

 

4 Record on-site physical characteristics of properties after 7 prequalifying both the seller and the property.

 

Property Analysis Form 5 This is an on-site form to record financial and other 7 information critical to your investment decision.

 

Cash Flow Analysis 6 Record the information available from the property analysis 9 and your own experience in this form to determine if your investment will be profitable.

 

Property Rehabilitation Analysis

 

7a/7b Use this form to determine the cost of fixing up a property to 19 enhance its fair market value for resale or rental.

 

Market Sales Analysis 8 This form reflects the appraisal technique most likely to 9

yield an accurate estimate of fair market value of a single family residence.
your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Acquiring Property Agreement For Deed 9 Also known as a Land Contract, it is a contract between a 13

buyer and seller where the buyer pays the seller on an
installment basis. When paid off, the seller deeds the
property to the buyer.

Real Estate
Sales Contract

 

10a/10b To be used for making offers which become a contract upon 18 10c/10d sellers acceptance. Do not use this form to sell your property.

 

Addendum 11 This form is used for the inclusion of additional terms and 18 conditions in a Sales Contract.

 

Deposit Note 12 Initial deposit on sales contract (earnest money). 13

 

Attorney Approval 13 If both parties sign this form, it gives their attorneys the right 18 to make specific changes to the contract that are mutually acceptable.

 

Quit Claim Deed 14 Use this deed to clear a title for transfer of ownership. 18

 

Closing Statement 15 A form of agreement between the buyer and seller that provides for the distribution of sale proceeds and allocation of prepaid expenses of ownership.

 

Bill Of Sale 16 Because a deed only transfers real property, this form is 18 used to convey personal property.

 

Affidavit And Memorandum Of Agreement

17 This form allows you to put a document on public record 13 without fully disclosing its content.
your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Finance

 

Installment Note 18 This is a note evidencing the debt that is collateralized by a 18 mortgage or deed of trust.

 

Mortgage 19 abcde Collateralization of mortgage note. 18

 

Mortgage Loan Record 20 Use a Mortgage Loan Record to keep track of periodic 18 payments made on a note that is collateralized by a mortgage.

 

Promissory Note

21 A document evidencing a general, usually unsecured, debt. 18 your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Lease/Rental

 

Rental Application 22 This form holds information from potential tenants that a 21 landlord uses to evaluate tenant worthiness.

 

Month-To-Month Rental Agreement

23 For short-term tenancies and/or potential trouble tenancies, 21 this form can be terminated more easily than a long-term lease.

Residential Lease With Option To Purchase

 

24a/24b Use this lease form when a tenant is renting to eventually 15 purchase a property.

 

Residential Lease/Rental Agreement

 

25a/25b A lease form used for general residential purposes. 21

 

Pet Agreement And Waterbed Agreement

26 & 27 If tenants own pets or have a waterbed that could cause 21 potential damage, these agreements protect the landlord from financial loss.
your own career; from planning and scheduling to agreements and contracts. Most are discussed in the "No Down Payment" course where Carleton describes their use with examples. The following list will help you refer back to the course chapter where you will find specific or general information about each form.

FORM PEI CHAPTER PAGE FORM DESCRIPTION REFERENCE

Property Management Move In/Move
Out Form

28a/28b Landlord and tenant sign this form to agree about the 21 condition of the premises at the time of possession and to the date it is vacated.

Monthly Income Record And Expense Allocation Summary

29 & 30 Use these forms to record the original posting of income 21 and expenses for bookkeeping purposes.

 

Extension Of Lease 31 To extend the term of an existing lease. 21

 

Permission To Sublet 32 This form is used by a landlord authorizing a tenant 21 to sublease space to a specific subtenant.

Tenant's Mandatory Notice To Landlord Of Intention To Vacate

33 If the lease permits a tenant to vacate the property during 21 the term of the lease, this form is used to allow the landlord time to search for another tenant.

Notice Of Overdue Rent 34 This form notifies a tenant that the rent plus a penalty 21 is past due.

 

Payment Agreement 35 The tenant formally acknowledges the rent due and commits 21 to pay in this agreement. It allows the landlord to change locks without going through eviction.

 

Landlord's Five-Day Notice

36 This is an initial document in the eviction procedure. It is 21 the notice used in most states as the first step in evicting a defaulted tenant.

30-Day Notice To Terminate Tenancy

 

37 The landlord uses this form to demand that the tenant 21 vacate the premises

WEEKLY PLANNER

WEEK BEGINNING THROUGH

 

TIME MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY

9:00
9:15
9:30
9:45
10:00
10:15
10:30
10:45
11:00
11:15
11:30
11:45
12:00
12:15
12:30
12:45
1:00
1:15
1:30
1:45
2:00
2:15
2:30
2:45
3:00
3:15
3:30
3:45
4:00
4:15
4:30
4:45
5:00
5:15
5:30
5:45
6:00
6:15
6:30
6:45
7:00
7:15
7:30
7:45
8:00
8:15
8:30
8:45
9:00
WEEK BEGINNING

WEEKLY PRIORITY SCHEDULE_{WEEK ENDING}

MONDAY
AM PM
TUESDAY
AM PM
WEDNESDAY
AM PM
THURSDAY
AM PM
FRIDAY
AM PM
SATURDAY
AM PM SUNDAY AM PM

SELLER INFORMATION FORM

Seller: Good Flexible Rejected Inflexible Source or Lead: ________________________________

Property Address: ________________________________ Date: ___________________ ________________________________ Phone: ___________________ 1. Seller's Name ________________________________________________________________ 2. Property

A. Size (s q. ft.) ______________
B. Total Rooms _____________
C. Layout ___________________ Bedrooms _______ Baths: Full ______ Half ______ D. Lot Size __________________
E. Garage ___________________ Size ____________
F. Special Features ________________________________________________________ G. Appliances, etc. _________________________________________________________

3. Price: $ _______________________
4. Existing Financing
A. Assumable ________________
B. Lender ________________________________ C. Payment: Current ________________________
5. Will seller assist financing? ______________________
6. How long on market? ___________________________
7. How long owned? ______________________________
8. Why selling? _________________________________
9. Like most? ___________________________________ 10. Renters in neighborhood? _______________________ 11. Lease / Option? _______________________________ 12. Cash Deal, Quick Close Price $ __________________ 13. Broker Involved:
Name: ____________________________________ Background: _________________________________ Could manage? _______________________________ Rental Value $ _______________________________ Amount $ ______________________ Amount $ ______________________ Cash needed? __________________

Like least? _____________________ Rent rates? _____________________

 

Phone: ________________________

 

Vacancy Rate ___________________ Any other good investment properties? _____________________________________________

 

BUYER'S PROPERTY INSPECTION REPORT

 

Property Address: _______________________________________________________________________________________________________
Noted below are my/our findings of the physical condition of the above mentioned real property as of _______________ (mo./ day) _______(yr.). Items not marked as UNSATISFACTORY are considered to be in satisfactory condition. GENERAL BUILDING EXTERIOR

Grounds
Landscaping .................................................................. Pool ................................................................................ Sewers or Septic Tank ................................................. Sprinklers ...................................................................... Other .............................................................................. UNSATISFACTORY ESTIMATED COST OF

REPAIR, REPLACEMENT, OR ADDITION

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Building
Roof ................................................................................ Chimney ......................................................................... Foundation ..................................................................... Wood Exteriors ............................................................. Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

GENERAL BUILDING INTERIOR

Heating And Air Conditioning Systems
Furnace ......................................................................... Air Conditioning ............................................................. Water Heater ................................................................. Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Built-In Appliances And Equipment
Ovens ............................................................................ Burners .......................................................................... Microwave ..................................................................... Dishwasher ................................................................... Disposal ......................................................................... Smoke Detectors .......................................................... Intercom ......................................................................... Electric Garage Door Opener ...................................... Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Electrical Systems
Interior Lighting .............................................................. Exterior Lighting ............................................................ Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Plumbing
Bathrooms ..................................................................... Kitchen ........................................................................... Laundry .......................................................................... Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Glass Windows ........................................................................ Screens ..................................................................... Window Panes ..........................................................

Glass Doors .................................................................. Shower Glass ................................................................ Tub Enclosures ............................................................. Mirrors ........................................................................... Other ..............................................................................

________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ ________________________

Personal Property
Carpets .......................................................................... Draperies ....................................................................... Other ..............................................................................

________________________ ________________________ ________________________

TOTAL ________________________ ________________________ ________________________ ________________________

REMARKS:
DATE: ____________________________________________ PURCHASER: _________________________________________

 

PROPERTY ANALYSIS FORM
1. OWNERSHIP AND PROPERTY LOCATION

Owner's Name _____________________________ Telephone ____________________________________ Owner's Address ____________________________________________________________________________ Property Address ____________________________________________________________________________

2. PHYSICAL DESCRIPTION

Size in Square Feet __________________________ Bedrooms ______________ Baths: Full ___ Half ___ Appliances Refrigerator _____________ Stove _________________ Oven _________________ Washer/Dryer ___________ Water Softener __________
Microwave ______________ Garbage Disposal _______
Dishwasher _____________ Other __________________
Basement ________ Attic ___________________ Porch _________________ Utility Room ____________
Garage __________ Den/Family Room ________ Lot Size ________________ Zoning ________________
Fireplace _________ Window Coverings _______________________________________________________
Carpet ___________ Construction ____________________________________ Age __________________
Central AC ________ Heat ___________________ Largest Utility Bill ________________________________
City Water/Septic ____________________________ School District __________________________________
Public Transportation ________________________ Taxes _________________________________________
Comments _________________________________________________________________________________

3. OWNER'S SITUATION

How Long Owned? __________________________ How Long On Market? ____ Asking Price ___________ Original Asking Price _________________________ Date of Price Change _____________________________ Why Selling? _______________________________ Needs Cash ____________________________________ How Much Cash? ___________________________ Could Cash Be Spread Over Time? __________________ What Owner Will Be Doing With Cash Received ___________________________________________________ Will Owner Assist In Financing? ________________ How Much? ____________________________________ Interest Rate _______________________________________________________________________________ What Owner Likes Most About Property __________ Least __________________________________________ Comments _________________________________________________________________________________

4. RENTAL ANALYSIS

Is Property Rented Now ______________________ To Whom? _____________ Children? ___ Pets? ___ How Long? ________________________________ Lease Or Month To Month? ________________________ Monthly Rent _______________________________ Last Increase ___________ Last Month's Rent _______ Security Deposit __________________________