hello everyone. I am just getting off of my feet in my wholesaling ventures. I have a question involving using the right contract. I live in NC and am planning on using my states realtor contract and then adding my own clauses in addition. I am wondering how i am to add these clauses to my contract if i am using a realtors contract? Is there a spot on the contract that i should write “see addendum” and add the clauses to a separate sheet attached to the back? Thanks for your help everyone!
actually i now realize my mistake in the previous post. i have found a contract i am going to use on google instead of the realtor contract, do you think this is an ok idea? my first question still stands though? should i write see addendum and attach the clauses or should i modify the contract i have found and just add the clauses in the contract?
Run it by your attorney. Whatever contract you use must meet your state’s requirements. People use standard contracts because they are well known, well understood, and legal. Custom agreements require an attorney review, which can slow down the process.
From my experience I would recommend using your local realtor form and then bending it to fit your needs. There is a good piece of mind in knowing that your contract is used by everyone else in the area so it must be acceptable. I do suggest bending it to your needs or putting together an addendum to the listing agreement to attach to all purchase agreements.