What contracts do I use for a subj 2 in the state of TEXAS ?
Need contracts have a owner that wants to keep loan in place…? HELP !!!
Where can I find them without paying a million Dollars…
THANKS GW
I’m subscribing to this because I’m looking for a good contract also.
In what part of TX are you?
Any updates on this?
The TREC contract for “1 to 4 family residential contract” has a section (page 5 Section 11) for “special provisions”. I’ve never used this contract for a sub 2 (I’m working on my first sub2 right now as well) but I’ve heard others that have used that section to add the provision that the purchase is subject to the existing mortgage remaining in sellers name.
I’ve just recently purchased a sub 2 program to learn more about it.
As soon as my seller clears up their title issue, I’ll be moving along with it (husbands name is on title, he was deceased several years ago).
Looking forward to learning this method and utilizing it.
-Buck
I don’t believe it violates any posting rules, but here is a link to the public TREC (Texas Real Estate Commission) contract:
http://www.trec.state.tx.us/pdf/contracts/20-11.pdf
Hope this helps
-Buck
That’s fine Buck…you just can’t advertise your OWN website.
Keith
Moderator
The Contract isn’t as important as the forms. You can use any of the standard free contracts on the internet that address “Subject to 1st mortgage” and “Subject to 2nd mortgage” ect.
The forms and disclosures that you need to use is the most important. Make sure you have good ones.
Those are what you need to find a good source to acquire them and yes they will cost you unless you can talk one of the guys here to send them to you.
Good luck