TREC Contracts & L/O - Posted by Andy Williams

Posted by Bud Branstetter on January 31, 2002 at 16:19:59:

Consider the difference if you went into court with a BS, guru, contract versus a state approved contract. Would your contract be seen taking advantage of them? You can structure an addendum that you attach to the state contract that is pro you(buyer or seller). An addendum takes precident and supercedes any clause that it typed as part of the original. The opposition would find it more difficult to say “Yea, I knew I should have read it” rather than something slick embedding in some paragraph hidden in the preprinted guru contract. As far as leases there is a short term lease before closing and one for after closing. There is not one promulgated for a longer lease period. I do not know of a state form for an option.

State foms make a prospect feel more comfortable. They make title companies more comfortable.

TREC Contracts & L/O - Posted by Andy Williams

Posted by Andy Williams on January 30, 2002 at 09:53:01:

I have heard that a few well established investors in Texas like to use the TREC contracts with the needed addendums when doing the lease part of lease/options.

I want to know what the benefits are of use the TREC contracts so that I can see if I need to be using them instead.

Thanks for the help,