I am going to be doing my first deal as a consultant on a L/P. The owner has the T/B already lined up. As far as using the proper forms, are there any other forms that I should use besides the Consulting Contract and the Residential Lease with Option to Purchase Agreement? Thanks!

Hi, T-Man, good to hear you've got something brewing. Before I can answer your question, I need to ask you one....
Are you doing a straight consultation, or is this a Cooperative Assignment? It sounds like a straight consult since the homeowner already has the tenant/buyer lined up. But I want to be certain so you use the correct agreements.

Yes, this will be a straight consult. He has asked me to do the background check on his T/B, though.

Thanks!

Good going, T. You will need the Consultation Agreement, along with the Residential Lease Agreement, and the separate Option to Purchase Agreement.
You are not using the Residential Lease with Option to Purchase Agreement. This is the one between you and the homeowner when you are setting up a sandwich lease. It offers a lot more latitude to the tenant, and is not the one you want when setting up a consultation. Let me know if you have any questions on this.
Running some checks on the t/b isn't a big deal. I do it for homeowners whenever they ask. It's good customer service and just may lead to a referral and another deal.
Keep us posted.

Thanks for the proper information, Michael. I will keep you posted on the deal.

Hiya,

WOW M.C.! I didnt know you have consultation forms in your package too? Man you gotta mention that somewhere...or did I not see it? Either way, Im that much more excited.