Forwarding a contract to seller tomorrow morning.. I’m nervous

Cleveland, Ohio
Wholesaling
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Forwarding a contract to seller tomorrow morning.. I’m nervous

Jeahni Bobbitt
Real Estate Agent · NYC · Member since 2022 · 12 posts · 4 votes

The contract I have is the Columbus Realtors version. The property is located in Cleveland.

I’m so scared to send it.. idk if I should edit and modify it in any way.

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Taylor DaschBusiness Member
Real Estate Agent · Temple, TX · Member since 2022 · 1k+ posts · 700 votes
4y

I dont think that it will matter, I would just send it, if they have any questions or would like to use a different form, you can accommodate them and send again. Are you scared because you feel it is a different contract form or for another reason?

[email protected]254-718-4249
Taylor Dasch | EG Realty561 Reviews
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  • Taylor DaschBusiness Member
    Real Estate Agent · Temple, TX · Member since 2022 · 1k+ posts · 700 votes
    4y

    I dont think that it will matter, I would just send it, if they have any questions or would like to use a different form, you can accommodate them and send again. Are you scared because you feel it is a different contract form or for another reason?

    [email protected]254-718-4249
    Taylor Dasch | EG Realty561 Reviews
    WebsiteView Page
    1Reply
  • Paul De Luca
    Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    4y

    @Jeahni Bobbitt

    If that's the standard contract in your market, what are you concerned about?

    I don't think it's a good idea to modify the form.

    0Reply
  • Jeahni Bobbitt
    OP
    Real Estate Agent · NYC · Member since 2022 · 12 posts · 4 votes
    4y
    Quote from @Taylor Dasch:

    I dont think that it will matter, I would just send it, if they have any questions or would like to use a different form, you can accommodate them and send again. Are you scared because you feel it is a different contract form or for another reason?

    I just wanted to know if I should add anything in to protect myself as a wholesaler. Maybe in the “additional terms and conditions” section.

    0Reply
  • Taylor DaschBusiness Member
    Real Estate Agent · Temple, TX · Member since 2022 · 1k+ posts · 700 votes
    4y

    I am not really a wholesaler, but a great wholesaler in the area told me that All Texas Contracts Are assignable. Here is what I found online. 

    When the parties opt to make the contract assignable, Section 7 of the contract provides two options:

    The first option provides that Buyer 1 “may assign and thereby be released from any further liability under this Contract.” This clause is far more favorable for Buyer 1, because it contains a type of release, which is a means for Buyer 1 to remove some of their liability through the release language.

    This may not be exactly what is written in yours, but I would at least confirm there is something similar prior to sending. Or get with another experienced wholesaler in your market. 

    [email protected]254-718-4249
    Taylor Dasch | EG Realty561 Reviews
    WebsiteView Page
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  • Daniel PaloscioBusiness Member
    Lender · Tampa, FL · Member since 2013 · 228 posts · 95 votes
    3y

    @Jeahni Bobbitt How did it go!?

    0Reply
  • Carla Kordab
    Property Manager · Cleveland, OH · Member since 2022 · 80 posts · 48 votes
    3y
    Quote from @Jeahni Bobbitt:

    The contract I have is the Columbus Realtors version. The property is located in Cleveland.

    I’m so scared to send it.. idk if I should edit and modify it in any way.


    Jeahni, I would like to help you. Let's connect!

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Jeahni Bobbitt:

    The contract I have is the Columbus Realtors version. The property is located in Cleveland.

    I’m so scared to send it.. idk if I should edit and modify it in any way.

     I would just consult a local attorney. I believe those contracts are only allowed to be used by Realtors

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Jeahni Bobbitt
    OP
    Real Estate Agent · NYC · Member since 2022 · 12 posts · 4 votes
    3y

    Really? Because a title company employee sent it to me.. why would the manager know I’m sending one over if it’s not for the consumption of a wholesaler?

    0Reply
  • Kyle Martin
    Investor · Fort Worth · Member since 2020 · 4 posts · 2 votes
    3y

    Dont be nervous, send the contract. Go over it with the seller. Make any adjustments that can be agreed upon. Good Luck, keep us posted.

    0Reply
  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    3y
    Quote from @Taylor Dasch:

    I am not really a wholesaler, but a great wholesaler in the area told me that All Texas Contracts Are assignable. Here is what I found online. 

    When the parties opt to make the contract assignable, Section 7 of the contract provides two options:

    The first option provides that Buyer 1 “may assign and thereby be released from any further liability under this Contract.” This clause is far more favorable for Buyer 1, because it contains a type of release, which is a means for Buyer 1 to remove some of their liability through the release language.

    This may not be exactly what is written in yours, but I would at least confirm there is something similar prior to sending. Or get with another experienced wholesaler in your market. 


     Do you mean the TREC forms are all assignable? Custom forms could easily prohibit assignment without consent.

    0Reply
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