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Updated over 5 years ago on . Most recent reply

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Jeffrey Harden
1
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12
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Texas Wholesaling - Explaining the TREC to sellers

Jeffrey Harden
Posted

Hi, everyone

This is my first post here on biggerpockets, it's nice to meet everyone! 

So just like most newcomers here, I'm fairly new to real estate/wholesaling and been doing a lot research to grasp a good understanding of it. I've been reading a lot of old discussions regarding the topic of wholesaling in Texas and found the information to be very valuable. Lately I've been stuck on whether to use the TREC contract or a one page purchase contract for the assigning process. I did my research on the TREC through Youtube videos and learned the importance of it. However, I feel like when presenting the contract to the seller they'll feel intimidated by how thorough and lengthy it is compared to a one page purchase contract. I noticed here on biggerpockets that it really comes down to the wholesaler preference on which contract they want to use. I wanted to know for those who uses the TREC, do you sometimes experience resistance from the seller when presenting the contract? If you do, how do you help better explain the contract to them in order for them to feel more comfortable?

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10
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5
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Denzell Hoover
  • Investor
  • Austin, TX
5
Votes |
10
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Denzell Hoover
  • Investor
  • Austin, TX
Replied

@Jeffrey Harden I prefer to over explain the whole contract with them that way they know the ins and outs of the deal and my intentions. I prefer transparency last seller kinda cut me off and just wanted to move along. I would just ask to see how they feel, I prefer to read everything but everyone is different. Wishing you the best in your ventures and feel free to reach out to me as well. It's always a pleasure sharing/exchanging info with other REI newbies like myself.

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