Hi I'm just now getting started in wholesaling and need a purchase sale agreement that alows assigning i live in Houston tx. please help
@Austin Lee use the TREC 1-4 for the purchase. The assignment document can be very generic. You can find one online or more than likely ask the title company you are using if they have one you can use.
@Austin Lee check DM...
@Colby Hager Thanks for info so does the contract have a no assignment clause or do i just need to get it filled out and don't need to add anything to it too assign it.
@Austin Lee trec contract doesn’t have a non assignable clause. It is considered assignable unless special language is added to make it not assignable.
To add, correct. just fill it out and use a separate assignment for your end buyer.
@Austin Lee the best option is to get with the Title company (or companies) you will be using. My Title Company in Nashville prefers that I use one of their contracts for wholesaling instead of the official 14 page long generic contract. My contract is two pages long and works much better with sellers and the Title Company.
I strongly recommend that in Texas, you stick with the TREC contract. There is absolutely no legitimate reason to do anything other than that.
@colbyhager is right in that in Texas you really want to stick with promulgated forms, unless you have a very specific reason not to, and then get your lawyer involved. I've never assigned a contract before, but from my understanding, you can add the language "or assigns" to the buyer. Double-check that, though; I'm not a lawyer.