I am meeting with a gentleman that wants to sell his house tomorrow and I am planning on wholesaling the deal. I am using a TREC form and I know that I put my name where is says buyer and then I put and/or assigns. My question is once I find an investor do I fill out a new TREC form or do they initial on the original form? I hope this is not an extremely stupid question but I would really appreciate any help you can give me.
Thanks
Michelle
I just did one where the title company provided a form where the new buyer and the wholeseller signed agreeing to assign the contract. It was a simple one paragraph agreement. Landmark America Austin Title Company supplied it for us. Hope this helps. Probably best not to mark up the existing contract. Also I have read that it is best not to put and or assigns as the contract is assignable unless it states otherwise. There is always another point of view on everything and if you get really good at this stuff you may want to pay your attorney a few bucks to look over your back
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
Hi Ted, thank you so much. I had an attorney draw up an assignment contract for me and I was not sure if anything else was needed. Once again thanks for the advice I really appreciate it.
Michelle Kasper