Use 20-7 One to Four Family Residential Contract (Resale). I would recommend you attend R2S’s Forms class, it is $99 and they usually teach it in Houston or San Antonio. Two days on how to use TREC contracts for investing. www.r2srealestate.com
This one is specific for Texas. It is written by the Texas Real Estate Commission (TREC) to be used by the agents. I would check and see which contract used by your state’s agents.
I use the TREC. In paragraph 11, I write “Subject to bids and inspections.” No addenda. No option period. Just that. I have found that the less add-ons the less suspicious the transactions.
I could probably fit my Addendum in paragraph 11, but it’s just neater for me if it’s typed out.
Hi, I’m Trish
I am also starting wholesaling with someone…and am about where you are in the process of starting it. Let me know any tid bits of information you find out and vice versa. I would be glad to offer you anything I find out.
I was told to use Foremost Insurance for real estate insurance…the number is 1-800-237-2060. What are u taking with you when you go and meet with your insurance company?
Why are you looking into insurance if you are wholesaling?
I’m in Texas guys, and I would be happy to help you guys out if you have questions or need specific help. Just ping me, email me, fax me, whatever.