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Updated over 11 years ago,
Need advice on Terms of a Deal
After searching for a real estate agent in Houston on Biggerpockets I keep getting responses from people from New Western Acquisitions. They are a wholesaling company and my understanding is that they work in Houston and Dallas. They also sent me a prenegotiated contract that says they do not work with conventional bank financing, no/option/inspection periods or financing contingencies are allowed (they also check a box in the contract they are not required to furnish the notice of properties condition under Texas code and there are no inspections for lead based paint), and title company is at sellers choice (buyer pays).
They also require $5000 down payment is the form of certified funds to be delivered at the time of contracting.
I don't know anything about this company, so I am doing my due diligence. I welcome any comments about what someone thinks of these terms.