Forms Needed
Hello,
My name is Lynn and I am in the very beginning of my journey to become a successful Real Estate Wholesaler. In this quest I have quickly noticed there are certain forms I will need and certain ones that do not apply to me. Does anyone have a list or will be willing to give me a list of the most important forms I need from start to finish? I live in Texas, Houston specifically if that makes any difference at this point. I have a background in Finance and have already secured my Title company and have done all the required research to get started. I just want to make sure I have all the necessary forms from everything to locating the properties to initiating contact with the sellers, contracts, etc. Any help in these beginning stages would be very much appreciated.
Thank you,
Lynn Bergin
Here are some documents you can search out and ad to your list of possible ones needed:
Assignment of contract
Standard purchase and sale agreement
These two should serve you just fine to get started.
Welcome!
There are no legal requirements in Texas that you use a specific form as a purchase contract. The only restriction is that, if you are a licensed realtor, you can't introduce a form other than the TREC promulgated forms. However, as an investor, even if you're using a realtor, you can hand that realtor a contract of your own choosing. Now, with all of that said, I have encountered the issue that people in Texas can be familiar with and comfortable with the TREC forms to the point they refuse to sign anything else.
Fortunately, the standard TREC forms provide you with plenty of opportunity to sculpt them the way you like. They also include an addendum for assignment of contracts and the purchase of property subject to existing financing, seller financing, etc. It's pretty much all covered. And, you can add an addendum that covers just about anything else you can think of. All the TREC forms are available free of charge, in PDF form, from the TREC website. TREC Forms
I have an Adobe professional license that allows me to convert PDF documents into Word, Excel, etc. I've converted the TREC 1to4 contract into a Word doc with my standard changes. It allows me to create a purchase contract in about 2-min. If you want to PM me, I'll be happy to share the Word version with you.
Curt - Thank you so much for replying to my post. I can use all the help I can get right now in these beginning stages...LOL
Hattie - Also, thank you so much for the reply to my post. Again, all the help I can use...LOL Additionally, I did email you about the forms you discussed. Thank you so much for the offer and I will definitely take you up on any help offered or forms.
Lynn - [email protected]
Hey @Lynn Bergin
Welcome to the site!
When tagging someone in your posts, use the @ symbol and type the first few letters of the persons name. At the bottom of "Post a Reply" that persons name will pop up.
I'm in the beginning stages of wholesaling myself.
Good Luck
Originally posted by @Hattie Dizmond:Welcome!
There are no legal requirements in Texas that you use a specific form as a purchase contract. The only restriction is that, if you are a licensed realtor, you can't introduce a form other than the TREC promulgated forms. However, as an investor, even if you're using a realtor, you can hand that realtor a contract of your own choosing. Now, with all of that said, I have encountered the issue that people in Texas can be familiar with and comfortable with the TREC forms to the point they refuse to sign anything else.
Fortunately, the standard TREC forms provide you with plenty of opportunity to sculpt them the way you like. They also include an addendum for assignment of contracts and the purchase of property subject to existing financing, seller financing, etc. It's pretty much all covered. And, you can add an addendum that covers just about anything else you can think of. All the TREC forms are available free of charge, in PDF form, from the TREC website. TREC Forms
I have an Adobe professional license that allows me to convert PDF documents into Word, Excel, etc. I've converted the TREC 1to4 contract into a Word doc with my standard changes. It allows me to create a purchase contract in about 2-min. If you want to PM me, I'll be happy to share the Word version with you.
Is it possible for me to get a Word version?
Thanks.