Newbee (agent, contract, closing, seller) - Real Estate Professionals - City-Data Forum

cafee · 07-08-2014, 08:59 PM

In an "unimproved property contract" for a residential land lot, where do I put a remark to state that seller would pay for all fees associate with closing cost. Sorry if this seems like a dumb question but I am a newly licensed holder and my broker does not provide much training yet. Also do I need to state that I am a buyer/license holder in the contract - if so do I put that in the Special Provisions section?

Thanks.

2bindenver · 07-08-2014, 09:32 PM

you need a better broker. we have no idea of what your contract says.

cafee · 07-08-2014, 10:46 PM

It's this form here: https://www.trec.state.tx.us/pdf/contracts/9-11.pdf

MikeJaquish · 07-09-2014, 05:35 AM

Quote:

Originally Posted by 2bindenver

you need a better broker. we have no idea of what your contract says.

I agree 100%.
You need to affiliate with a firm that will help you get started so you don't have to ask fundamental questions on the internet.

George Chong · 07-09-2014, 07:12 AM

Quote:

Originally Posted by 2bindenver

you need a better broker. we have no idea of what your contract says.

Quote:

Originally Posted by MikeJaquish

I agree 100%.
You need to affiliate with a firm that will help you get started so you don't have to ask fundamental questions on the internet.

young92 · 07-09-2014, 08:47 AM

OMG! Get yourself to another office! Fast! Any Broker in charge who does not care enough to help a newly licensed agent needs not to be supervising them. Anything you do can get the BIC in hot water so it is in their best interest to supervise you and train you. Get yourself to an office IMMEDIATELY that will give you the guidance you need

As for where to put the information on the form, I can only speak for NC contracts. Sorry. Maybe there is another agent in your office that will help?

SmartMoney · 07-09-2014, 12:59 PM

Ditto, ditto, ditto. Move the license, before you buy. Almost every RE office will not charge the agent for their personal transactions. Even if it's to decide what you really want to do with your license after this transaction. Something tells me you made this decision so you didn't rack up a bunch of fees - think how much more this will cost you if this contract blows up.........ie, don't be penny foolish.

Also, whatever you do, be certain to give yourself a contingency with a "study period" - this gives you an out if what you want to do can't be done on that lot. Minimum 30 days, most go 60- 90 days if house plans are being drawn.

TrentBeaver · 07-09-2014, 01:14 PM

Read page 8.

But before I wrote anything I would find another broker as everyone else has said. It sounds as if you have been thrown to the wolves.

Trent

cafee · 07-09-2014, 04:52 PM

OK I get you. Which broker would provide good training for a first few transactions in Texas. Reason I went with this broker as I thought my background is in IT and I can find most answers myself by google for it - guess it's not the case with Real Estate.

George Chong · 07-09-2014, 04:58 PM

Quote:

Originally Posted by cafee

OK I get you. Which broker would provide good training for a first few transactions in Texas. Reason I went with this broker as I thought my background is in IT and I can find most answers myself by google for it - guess it's not the case with Real Estate.

You need to interview a lot of Brokers to see what type of training and/or mentor-ship they offer. Google cannot answer all questions. You are dealing potentially big money so get trained/educated.