Need help writing addendum contract (10-5 TREC)

Bird Dogs, Wholesaling
1

For wholesaling, I think I’ve nailed down my P&S as the TREC 20-7. I’ve already got my assignment contract. Now I need to create my addendum. Can someone please tell me what needs to be added or changed about the following contract? I got a different response that I need to add a clause stating that I can enter whenever without seller permission to show the property. Can someone tell me exact wording for this or what else needs to be added? Or if I’m even looking at the correct addendum contract??!? :help

Here’s the TREC 10-5 contract:
http://www.trec.state.tx.us/pdf/contracts/10-5.pdf

I feel like I’m soo close to getting the wheels rolling, yet so far away at the same time! hehe :deal

2

You do not need this addendum, this one is to sell a second property.

In section 11 of 20-7 contract, add your conditions. For example:

  1. Seller agrees to allow buyer, buyer agents, contractors, and prospective buyers to view the property.

  2. Seller agrees to install lockbox on the property.

  3. Seller agrees to buyer placing for sale signs on the property.

Now, if buyer still living in the house, you cannot expect them to let you go in without prior notice and permission. You just have to coordinate it with them.

3

Thanks for the reply and help! I really need to get my TREC finished or an addendum. This is about the only thing I have left before I can actually start doing deals.

I tried to get in touch with a lawyer today about getting the contracts setup. When I told him I’m doing wholesaling he asked me what it is. I told him and then he proceeded to tell me I need to get a “Securities Broker” license and that he would have nothing to do with me (he thought I was being unethical since I’m starting my business with no license).

I’m having trouble finding a lawyer (I have searched). I found 2 lawyers so far that are involved with rei. One of them charges an arm and a leg for anything I want done (wanted $1700 to setup my LLC) and the other doesn’t want anything to do with me haha…Can someone PLEASE help me with the clauses that are necessary for my purchase contract or addendum?? I understand that many or most people have paid money for this contract or clauses. Perhaps I can offer some kind of service or can pay for one from someone else on this board (preferably from someone in TX since that’s where I am)? I don’t mind paying for it. I just want a decent price and a good solid contract or addendum. It doesn’t seem like it should be so hard to get one contract or addendum with a few clauses written up, but it’s taking me forever and I still don’t have it…

OR, can someone recommend a decent rei lawyer in Dallas who isn’t going to rake me over the coals?? :banghead

fadiz, thanks for the reply and example clauses. I just need to nail down exactly what clauses to use and the wording…