The executor wants to send my contract to an attorney for review. Help!

[James Crow]

Here's the deal: I have an inherited property with a brother and a sister as the heirs. However, their uncle is the executor. I have everyone verbally agreeing to sell me the house at 60% of ARV, with very minimal repairs.

My problem is the uncle wants $500 earnest money. I told him I only put down the legal minimum in Texas, $10, and that I do this because I buy houses as-is, pay all the closing costs and taxes, and I don't ask the seller for a thing. I think he will go along with my low earnest money amount, but now wants me to send him a copy of my contract to show to the attorney who handled the estate. My question is:

What, if anything, needs to be taken out or added to my contract to easily pass the attorney's approval? I understand that every attorney is different, but does anyone have any experience with this that can offer some good advice? I still need my out clauses and to be able to have ample time to market the property to another investor, so I can wholesale it. I also need to make certain that I can keep my low earnest money amount. Message me and I will email you a copy of my contract, so you can look it over.

This will be my first deal, if I can get through this hoop. I'm supposed to send my contract out, but am hesitant to do it until I know an attorney will approve it. Any advice would be greatly appreciated. Thanks in advance!

James Crow

[Wayne Brooks]

James,
I think what Mark was saying is "$10 EM (complaining about $500) for a 30 day "free" option", screams Shaky/flipper/etc.