Texas Real Estate Sales Contract Form – Fill Out and Use This PDF

1

. PARTI ES: The par t ies t o t his cont ract ar e

( Seller ) and

( Buyer ) . Seller agr ees t o sell and

convey t o Buyer and Buyer agrees t o buy from Seller t he Propert y defined below .

2

. PROPERTY:Lot

,Block

,

Addit ion, Cit y of

,Count y of

Texas, know n

as

( address/ zip code) , or as

descr ibed on at t ached exhibit , t oget her w it h: ( i)

im provem ent s, fixt ures and all ot her propert y

descr ibed in t he

Const r uct ion Docum ent s; and

( ii) all right s, privileges and appur t enances

t heret o, including

but not lim it ed t o: perm it s,

easem ent s,

and cooperat ive and associat ion

4 . FI N AN CI N G: The port ion

of Sales Price not payable in

cash w ill

be paid

as

follow s: ( Check

applicable boxes below )

A. THI RD PARTY FI NANCI NG: One or m ore t hird part y m ort gage loans

in

t he

t ot al am ount

of $

( excluding any loan funding fee or m or t gage insur ance pr em ium ) .

( 1) Propert y Approval:

I f

t he Propert y does not

sat isfy

t he

lenders'

underw rit ing

requirem ent s for t he loan( s) , ( including, but not

lim it ed t o

appraisal,

insurabilit y and

lender required repairs) ,

Buyer m ay t erm inat e t his cont ract by

giving

not ice t o Seller

prior t o closing and t he earnest m oney w ill be r efunded t o Buyer .

not es described in t he at t ached TREC Loan Assum pt ion Addendum .

C. SELLER

FI NANCI NG: A prom issory not e

from Buyer t o Seller of $

,

secur ed

by vendor 's and deed of t r ust liens, and cont aining t he

t er m s

and condit ions

descr ibed in t he at t ached TREC Seller Financing

Addendum . I f an

owner

policy of t it le

insurance is furnished, Buyer shall furnish Seller w it h a m ort gagee policy of t it le insurance.

5 . EARN EST M ON EY: Upon execut ion of t his cont ract

by

all part ies,

Buyer

shall deposit

$

as ear nest m oney w it h

, as

escr ow agent ,

at

( address) . Buyer shall deposit addit ional earnest m oney of $

w it h escrow

agent w it hin

days aft er t he effect ive dat e of t his cont ract . I f Buyer fails t o deposit t he

earnest m oney as required by t his cont ract , Buyer w ill be in default .

6 . TI TLE POLI CY AN D SURV EY:

A. TI TLE POLI CY: Seller shall furnish t o Buyer at

Seller’s

Buyer’s expense an ow ner policy of

t it le insur ance ( Tit le Policy) issued by

( T i t l e

( 1)

Rest rict ive covenant s com m on t o t he plat t ed subdivision in w hich t he Pr oper t y is locat ed.

( 2)

The st andard print ed except ion for st andby fees, t axes and assessm ent s.

Buyer in w rit ing.

( 6)

The st andard print ed except ion as t o m arit al right s.

( 7)

The st andard print ed except ion as t o w at ers, t idelands, beaches, st ream s, and relat ed

m ay have the exception am ended to read, "shortages in area" .

B. COMMI TMENT: Wit hin 20 days aft er

t he Tit le Com pany receives a copy of t his cont ract ,

Seller shall furnish t o Buyer a com m it m ent for t it le insurance ( Com m it m ent ) and, at Buyer's

expense, legible copies of rest rict ive covenant s and docum ent s evidencing except ions in t he

Com m it m ent ( Except ion Docum ent s)

ot her t han t he st andard print ed

except ions. Seller

aut horizes t he Tit le Com pany t o deliver t he Com m it m ent and Except ion Docum ent s t o Buyer

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 3 of 9 12-05-2011

m unicipalit y's

ext r at er r it or ial

j ur isdict ion or is likely

t o

be locat ed w it hin a

m unicipalit y’s

ext rat errit orial

j urisdict ion,

cont act

all

m unicipalit ies

locat ed in t he general

proxim it y of

t he Proper t y for furt her inform at ion .

( 6) PROPERTY

LOCATED I N

A CERTI FI CATED SERVI CE

AREA OF A UTI LI TY SERVI CE

PROVI DER:

Not ice required

by §13 . 257, Wat er Code:

The real propert y, described in

Paragraph 2, t hat you are

about t o purchase m ay be

locat ed in a cert ificat ed w at er or

sew er service area, w hich is

aut horized by law t o provide w at er or sew er service t o t he

propert ies in t he cert ificat ed area.

I f your propert y is locat ed in a cert ificat ed area t here

m ay be special cost s or charges t hat

you w ill be required t o pay before you can receive

w at er or sew er service.

There m ay

be a period required t o const ruct lines or ot her

acknow ledges receipt of t he foregoing not ice at or before

t he execut ion of a

binding

cont ract for t he purchase of t he real propert y described in Paragraph 2 or at closing of

purchase of t he real propert y .

( 7) PUBLI C I MPROVEMENT DI STRI CTS: I f t he

Propert y is in a public

im provem ent

dist rict ,

§5 . 014, Propert y Code, requires Seller t o not ify Buyer as follow s: As a purchaser of t his

parcel of real propert y you are obligat ed t o pay an assessm ent t o a m unicipalit y or count y

for an im provem ent proj ect undert aken by

a public im provem ent

dist rict

under

Chapt er

372, Local

Governm ent Code. The assessm ent m ay

be

due annually

or

in

periodic

inst allm ent s.

More

inform at ion concerning

t he am ount

of t he assessm ent and

t he

due

dat es of t hat

assessm ent m ay be obt ained

from t he m unicipalit y

or count y

levying

t he

assessm ent .

The am ount of t he assessm ent s is subj ect t o change.

Your failure t o pay t he

assessm ent s could result in a lien on and t he foreclosure of your propert y .

( 8) TRANSFER FEES: I f t he Propert y is subj ect

t o a privat e

t ransfer fee obligat ion,

§5 . 205,

Propert y Code, requires Seller t o not ify Buyer as follow s: The privat e t ransfer fee

obligat ion m ay be governed by Chapt er 5, Subchapt er G of t he Texas Propert y Code.

7 . PROPERTY CON D I TI ON :

A. ACCESS AND I NSPECTI ONS: Seller shall perm it Buyer and Buyer’s

agent s access t o

t he

Propert y at reasonable t im es. Buyer m ay have t he Propert y inspect ed by inspect ors select ed

by Buyer and licensed by TREC or ot herw ise per m it t ed by law t o m ake inspect ions.

B. CONSTRUCTI ON DOCUMENTS: Seller

shall com plet e all im pr ovem ent s t o t he Proper t y

w it h

due diligence in

accor dance w it h t he

Const ruct ion Docum ent s.

“ Const r uct ion

Docum ent s”

m eans t he plans and

specificat ions, t he finish

out schedules, any change orders,

and

any

allow ances relat ed t o t he plans and specificat ions, finish out schedules, and change orders.

The Const ruct ion Docum ent s have been signed by t he part ies and are incor por at ed int o t his

cont ract by reference.

C. COST ADJUSTMENTS:

All change orders m ust be in w rit ing.

I ncrease in cost s result ing from

change orders or it em s select ed by

Buyer w hich exceed

t he

allow ances specified in

t he

Const ruct ion Docum ent s w ill be paid by Buyer as follow s:

.

A decrease

or w ill not , in Seller’s j udgm ent , adversely affect

t he m arket abilit y of t he Propert y . Buyer w ill

m ake required select ions w it hin

days aft er not ice from Seller .

E. COMPLETI ON: Seller m ust com m ence const r uct ion no lat er t han

days aft er t he effect ive

dat e of

t his cont ract . The im provem ent s w ill

be subst ant ially

com plet ed

in accordance w it h

t h e

Co n s t r u c t i o n

D o c u m e n t s

a n d

r e a d y

f o r

o c c u p a n c y

n o t

l a t e r

t han

,

20

.

The im provem ent s w ill be deem ed t o be

subst ant ially com plet ed

in

accor dance

w it h

t he Const ruct ion

Docum ent s

upon t he final

inspect ion

and approval

by

all applicable

governm ent al

aut horit ies

and

any

lender

( Subst ant ial

Com plet ion

Dat e) .

Const r uct ion

delays caused by act s of God, fir e or ot her

casualt y, st rikes,

boycot t s

or

nonavailabilit y

of

m at er ials

for which

no

subst it ut e of

com parable

qualit y

and

price is

available w ill

be added

t o t he

t im e allow ed

for

subst ant ial

ext end beyond t he Closing Dat e. Seller

m ay subst it ut e m at er ials, equipm ent and appliances

of com parable qualit y for t hose specified

in t he Const ruct ion Docum ent s.

assignable m anufact urer w arrant ies.

G. I NSULATI ON: As required by Federal Trade Com m ission Regulat ions,

t he inform at ion

relat ing t o t he insulat ion inst alled or t o be inst alled in t he I m provem ent s at

t he Propert y is:

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 4 of 9

12-05-2011

( Addr ess of Pr oper t y )

( check only one box below )

( 1) as shown in t he at t ached specificat ions.

( 2) as follow s:

a)

Ext erior w alls of im proved liv ing areas: insulat ed w it h

insulat ion t o a t hickness of

inches which yields an R- Value of

.

b)

Walls in ot her areas of t he hom e: insulat ed w it h

insulat ion t o a t hickness of

inches which yields an R- Value of

.

c)

Ceilings in im proved liv ing areas:

insulat ed w it h

insulat ion t o a t hickness of

inches which yields an R- Value of

.

d)

Floors of im proved

living areas

not applied t o a slab

foundat ion: insulat ed w it h

insulat ion t o a t hickness of

inches w hich yields an R-

Value of

.

e)

Ot her insulat ed areas: insulat ed w it h

insulat ion t o a

t hickness of

inches which yields an R- Value of

.

including

asbest os and

w ast es or

ot her

environm ent al

hazards,

or

t he

presence

of a

t hreat ened or endangered species or

it s

habit at

m ay affect Buyer ’s

int ended use

of

t he

Propert y . I f Buyer is concerned about

t hese m at t ers, an addendum

prom ulgat ed by TREC or

required by t he part ies should be used.

I . SELLER’S

DI SCLOSURE:

Except

as

ot her w ise

disclosed

in t his

cont r act ,

Seller has

no

know ledge of t he follow ing:

( 1) any flooding of t he Propert y w hich

has had a

m at erial

adverse

effect on

t he use

of

t he

Propert y;

( 2) any pending or t hreat ened lit igat ion, condem nat ion, or

special

assessm ent affect ing

t he

Pr oper t y;

( 3) any environm ent al hazards or condit ions m at erially affect ing t he Propert y;

written agreem ents.

9 . CLOSI N G:

A. The closing of t he sale w ill be on or befor e

, 20

, or w it hin 7 days

aft er obj ect ions m ade under Paragraph 6D have been cured or w aived, w hichever dat e is lat er

( Closing Dat e) .

I f eit her par t y fails t o close t he sale by t he Closing Dat e,

t he non - default ing

part y m ay exercise t he rem edies cont ained in Paragraph 15 .

B. At closing:

( 1)

Seller shall execut e and deliver a general w arrant y deed conveying t it le t o t he Propert y t o

Buyer and show ing no addit ional except ions t o t hose perm it t ed in Paragraph 6 and furnish

t ax st at em ent s or cert ificat es show ing no delinquent t axes on t he Propert y .

( 2)

Buyer shall pay t he Sales Price in good funds accept able t o t he escrow agent .

( 3)

Seller and Buyer shall execut e and deliver any not ices, st at em ent s, cert ificat es, affidavit s,

releases, loan docum ents and ot her docum ent s reasonably required for

t he closing of t he

sale and t he issu an ce of t he Tit le Policy .

( 4)

There w ill be

no liens, assessm ent s, or securit y

int erest s against t he Propert y w hich w ill

not be sat isfied out of t he sales

pr oceeds unless securing paym ent of any loans assum ed

by Buyer and assum ed loans w ill

not be in default .

1 0 . POSSESSI ON : Seller shall deliver to Buyer possession of the Property:

upon closing and funding

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 6 of 9 12-05-2011

( Addr ess of Pr oper t y )

earnest m oney and ( iii) liable for t he loss of any earnest m oney caused by t he failure of any

financial inst it ut ion in w hich t he earnest m oney has been deposit ed

unless t he financial

inst it ut ion is act ing as escrow agent .

B. EXPENSES: At closing, t he earnest m oney m ust be applied first t o any cash dow n paym ent ,

t hen t o Buyer's Expenses and any excess refunded t o Buyer . I f no closing occurs, escrow

agent m ay: ( i) r equire a w r it t en r elease of liabilit y of t he escr ow agent

fr om all par t ies, ( ii)

1 9

. REPRESEN TATI ON S: All covenant s,

represent at ions and w arrant ies in t his cont ract survive

closing. I f any represent at ion of Seller in t his cont ract is unt rue on t he Closing Dat e, Seller w ill

be in default .

Unless expressly prohibit ed by w rit t en agreem ent , Seller

m ay cont inue t o show

t he Propert y and receive, negot iat e and accept back up offers.

2 0

. FED ERAL TAX REQUI REM EN TS: I f Seller is a " foreign person,” as defined by applicable law, or

if Seller fails t o deliver an affidavit t o Buyer t hat Seller is not a " foreign person,” t hen Buyer shall

w it hhold from

t he sales proceeds an am ount sufficient t o com ply w it h

applicable t ax law and

deliver t he sam e t o t he I nt ernal Revenue Service t oget her w it h appropr iat e t ax for m s. I nt er nal

Revenue Service regulat ions require

filing w rit t en

report s if currency

in

excess of specified

am ount s is received in t he t ransact ion .

2 1

. N OTI CES: All

not ices from one part y

t o t he ot her

m ust be in w rit ing

and

are effect ive w hen

E- m ail:

E- m ail:

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 7 of 9

12-05-2011

( Addr ess of Pr oper t y )

2 2 . AGREEM EN T OF PARTI ES:

This cont ract

cont ains t he ent ire agr eem ent

of t he part ies and

cannot be changed except by

t heir w rit t en

agreem ent . Addenda w hich

are a part

of t his

2 3 . TERM I N ATI ON OPTI ON : For nom inal consider at ion, t he receipt

of which is hereby

acknow ledged by Seller , and Buyer's agreem ent t o pay Seller $

( Opt ion Fee)

t er m inat e t his cont r act by giving not ice of t er m inat ion t o Seller w it hin

days aft er t he

effect ive dat e of t his cont ract ( Opt ion Period) . I f no dollar am ount is st at ed as t he Opt ion Fee or

if

Buyer fails t o pay t he Opt ion Fee t o Seller w it hin t he t im e prescribed, t his paragraph w ill not be

a

part of t his cont ract and Buyer shall not have t he unrest rict ed right t o t er m inat e t his cont r act .

I f Buyer

gives not ice of

t erm inat ion w it hin t he t im e prescribed, t he Opt ion Fee

w ill not be

refunded;

how ever, any

earnest m oney w ill be refunded t o Buyer . The Opt ion Fee

w ill

w ill

not be credit ed t o t he Sales Price at closing. Tim e is of t h e e sse n ce for t h is pa r a gr a ph

a n d

st r ict com plia n ce w it h t h e t im e for pe r for m a n ce is r e qu ir e d .

Buyer's

Seller's

At t orney is:

At t orney is:

Telephone:

(

)

Telephone:

(

)

Facsim ile:

(

)

Facsim ile:

(

)

E- m ail:

E- m ail:

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 8 of 9 12-05-2011

( Addr ess of Pr oper t y )

EX ECUTED t h e

da y of

, 2 0

( EFFECTI V E D ATE) .

( BROKER: FI LL I N TH E D ATE OF FI N AL ACCEPTAN CE. )

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12

Cont r act Concer ning

Page 9 of 9 12-05-2011

( Addr ess of Pr oper t y )

OPTI ON FEE RECEI PT

Receipt of $

( Opt ion Fee) in t he for m of

is acknow ledged.

Seller or List ing Broker

Dat e

CON TRACT AN D EARN EST M ON EY RECEI PT

Receipt of Cont r act and $

Earnest Money in t he form of

is acknow ledged.

Escr ow Agent :

Dat e:

By:

Em ail Addr ess

Telephone (

)

Address

Facsim ile: (

)

Cit y

St at e

Zip

I nit ialed for ident ificat ion by Buyer

and Seller

TREC NO. 23 - 12