Purchase Contract (Assigned from Wholesaler)

[Travis H.]

Howdy!

I am getting set up with wholesaling, and wanted to get your opinions, as investors who are purchasing assigned contracts from other wholesalers.

I have read that it is beneficial to closing the contract with the seller to have a very brief contract written in plain english as opposed to the longer official state contract (TREC contract in Texas).

I have drafted a version of this wholesaling contract, it has two or three clauses that will protect me in case I need to get out. My question to you is - are you folks comfortable with purchasing a contract like this, or would you prefer a TREC contract? If you are ok with a custom wholesaling contract, what clauses do you need in it to protect you after I assign it to you?

Thanks!