Texas Trec Residential Contract Form PDF Details

The Texas TREC Residential Contract form is a critical document for anyone involved in buying or selling residential property in Texas. Designed by the Texas Real Estate Commission (TREC), it serves as a comprehensive agreement covering all aspects of the transaction for one-to-four family residential properties on resale. This form is meticulously structured to ensure both the buyer and seller are well-informed and agree on the terms of the sale, including details about the property, sales price, financing, and closing conditions. It addresses the land and improvements, defines the included and excluded accessories, and outlines the financing methods available to the buyer, ensuring transparency and compliance. Additionally, it covers earnest money requirements, title policy, survey stipulations, and discloses specific conditions like seller's disclosure notices and lead-based paint hazards for homes built before 1978. Understanding the conditions for property inspections, repairs, environmental considerations, and brokers' fees is paramount. It also clarifies procedures for closing, possession, and handling casualty losses, defaults, and mediation. This contract not only lays the groundwork for a legally binding agreement but also guides parties through potential pitfalls, ensuring a smoother transaction process. As a vital tool in Texas real estate transactions, it emphasizes the importance of staying informed and comprehending its provisions fully.

QuestionAnswer
Form NameTexas Trec Residential Contract Form
Form Length11 pages
Fillable?No
Fillable fields0
Avg. time to fill out2 min 45 sec
Other namestrec contract residential, trec 1 4 residential contract, residential contract tx, trec one four

Form Preview Example

Cont r act Concerning

Page

of 8

02 - 13 - 06

 

( Addr ess of Pr oper t y)

 

 

EQUAL HOUSING

PROMULGATED BY THE TEXAS REAL ESTATE COMMI SSI ON ( TREC)

 

 

OPPORTUNITY

ON E TO FOU R FAM I LY RESI D EN TI AL CON TRACT ( RESALE)

 

 

 

 

 

 

 

NOTI CE: Not For Use For Condom inium Tr ansact ions

 

 

 

 

 

 

1 . PARTI ES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( Seller) agrees t o

sell and convey t o

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( Bu y e r )

and Buyer agrees t o buy from Seller t he Propert y descr ibed below .

 

 

 

 

 

 

2 . PROPERTY:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A.

LAND:

Lot

 

 

Block

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A d d i t i o n ,

 

Cit y of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

, Count y of

 

 

 

 

 

, Texas, know n

 

as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( addr ess/ zip code) , or as described on at t ached exhibit .

 

 

 

 

 

 

 

 

B.

I MPROVEMENTS: The house, garage and all ot her fix t ures and im provem ent s at t ached t o

 

t he above- described r eal propert y,

including w it hout lim it at ion, t he follow ing pe r m a n e n t ly

 

in st a lle d a n d

bu ilt - in it e m s,

if

 

any: all

equipm ent and

appliances,

valances,

screens,

 

shut t ers, aw nings, wall- t o- w all

carpet ing,

m irror s, ceiling

fans,

at t ic

fans, m ail boxes,

 

t elevision ant ennas and sat ellit e dish

syst em

and

equipm ent , heat ing and air - condit ioning

 

unit s,

securit y

and fire det ect ion

equipm ent ,

w iring,

plum bing

and

 

light ing

fixt ures,

 

chandeliers, w at er soft ener syst em ,

kit chen

equipm ent ,

gar age

door

openers,

cleaning

 

equipm ent , shr ubbery, landscaping,

out door

cooking equipm ent ,

and

all ot her

propert y

ow ned by Seller and at t ached t o t he above descr ibed real propert y .

C.ACCESSORI ES: The follow ing descr ibed relat ed accessories, if any: w indow air condit ioning unit s, st ove, fireplace screens, cur t ains and rods, blin ds, w indow shades, draperies and rods, cont rols for sat ellit e dish syst em , cont rols for gar age door opener s, ent ry gat e

 

cont rols, door key s, m ailbox keys, above ground pool, sw im m ing pool

equipm ent

and

 

m aint enance accessor ies, and art ificial fireplace logs.

 

 

 

D. EXCLUSI ONS: The follow ing im provem ent s and accessories w ill be r et ained

by Seller

and

 

rem oved prior t o deliv ery of possession:

 

 

 

 

 

 

 

 

.

The land, im provem ent s and accessories are collect ively referred t o as t he “ Propert y” .

3 . SALES PRI CE:

A.Cash por t ion of Sales Price payable by Buyer at closing .................. $

B.Sum of all financing described below ( excluding any loan funding

fee or m or t gage insur ance prem ium ) ........................................... $

C.Sales Price ( Sum of A and B) ...................................................... $

4 . FI N AN CI N G: The por t 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 hir d part y m ort gage loans in t he t ot al am ount of

$

 

 

( excluding any loan funding fee or m ort gage insurance prem 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) , t his cont ract w ill t er m inat e and t he earnest m oney w ill be

 

 

refunded t o Buyer .

( 2)

Financing Approval: ( Check one box only)

( a)

This cont ract

is subj ect t o Buyer being approved for t he financing described in

 

t he at t ached Third Par t y Financing Condit ion Addendum .

( b)

This cont ract

is not subj ect t o Buyer being approved for financing and does not

involve FHA or VA financing.

B. ASSUMPTI ON: The assum pt ion of t he unpaid principal balance of one or m ore prom issor y

 

not es descr ibed 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 $

 

 

 

 

 

 

,

 

 

secured by vendor's and deed

of t rust liens, and cont aining

t he

t erm s

and condit ions

 

described in t he at t ached TREC Seller Financing Addendum .

I f an

ow ner

policy

of

t it le

 

insurance is fur nished, 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

 

bot h

part ies,

Buyer shall deposit

$

 

 

 

as earnest m oney w it h

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as escr ow agent , at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

w it h escr ow

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 insurance ( Tit le Policy) issued by

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( Tit le Com pany)

in

t he am ount of

t he Sales Price, dat ed at or aft er closing,

insuring Buyer

I nit ialed for ident ificat ion by Buy er

 

 

 

 

 

and Seller

 

 

 

 

 

 

 

 

 

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

Page 2 of 8 02 - 13 - 06

 

( Addr ess of Pr oper t y)

 

 

against loss under t he provisions of t he Tit le Policy, subj ect

t o t he prom ulgat ed exclusions

( including exist ing building and zoning or dinances) and t he follow ing except ions:

( 1)

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

( 2)

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

( 3) Liens creat ed as par t of t he financing descr ibed in Paragraph 4 .

 

 

 

 

 

 

 

 

 

 

 

( 4) Ut ilit y

easem ent s cr eat ed by

t he dedicat ion deed or plat

 

of t he subdiv ision

in

w hich t he

 

 

Propert y is locat ed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 5) Reservat ions or except ions ot herw ise perm it t ed by t his cont ract

or as m ay be approved

 

 

by 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 pr int ed except ion as

t o w at er s, t idelands,

 

beaches,

st ream s, and

r elat ed

 

 

m at t ers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary

 

 

lines, encroachm ents or prot rusions, or overlapping im provem ents. Buyer, at Buyer’s

 

 

expense, 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

receiv es 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

at Buyer's address show n in Paragraph 21 .

I f t he Com m it m ent

and Except ion Docum ent s

ar e

not

delivered

t o

 

Buyer

w it hin

t he specified

t im e,

t he

t im e

for

delivery

w ill

be

aut om at ically ext ended up t o 15 days or t he Closing Dat e, w hichever is earlier .

 

 

 

 

 

 

C. SURVEY:

The survey m ust be m ade by a r egist ered professional land surveyor accept able t o

t he Tit le Com pany and any lender . ( Check one box only)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 1)

Wit hin

 

 

 

 

 

 

 

days aft er t he

effect ive dat e of t his cont ract ,

Seller shall

furnish

t o

 

 

 

Buyer

and Tit le Com pany

Seller 's exist ing survey

of

 

t he

Propert y and a Resident ial

 

 

 

Real Pr oper t y Affidavit prom ulgat ed by t he Texas Depart m ent of I nsurance ( Affidavit ) .

 

 

 

I f

t he

 

exist ing

survey

or Affidavit is

not accept able t o

Tit le

Com pany

or

Buyer's

 

 

 

lender,

 

 

Buyer shall obt ain a new

survey at

Seller's

Buyer's expense

no lat er

 

 

 

t han 3

 

 

days

prior t o

Closing Dat e. I f

Seller

fails

t o

 

furnish

t he

 

exist ing

survey

or

 

 

 

Affidavit

w it hin

 

t he t im e

prescr ibed,

Buyer

shall

obt ain

a

new

 

survey

at

Seller's

 

 

 

expense no lat er t han 3 days prior t o Closing Dat e.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 2)

Wit hin

 

 

 

 

 

days aft er t he effect ive dat e of t his cont r act , Buyer shall obt ain a new

 

 

 

survey

 

at Buyer's ex pense. Buyer is deem ed t o receive

t he survey on t he

dat e

of

 

 

 

act ual r eceipt or t he dat e specified in t his paragraph, w hichever is earlier .

 

 

 

 

 

( 3)

Wit hin

 

 

 

 

 

days aft er t he effect ive dat e of t his cont r act , Seller , at Seller 's expense

 

 

 

shall furnish a new survey t o Buyer .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

D. OBJECTI ONS: Buyer m ay obj ect

in w rit ing t o defect s, except ions, or encum brances t o t it le:

disclosed on t he sur vey ot her t han

it em s

6A( 1)

t hrough ( 7) above;

disclosed

in t he

Com m it m ent ot her t han it em s 6A( 1) t hrough ( 8) above; or w hich prohibit t he follow ing use

or act iv it y:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

Buyer m ust obj ect not lat er t han ( i) t he Closing Dat e or ( ii)

 

 

 

 

 

 

 

 

days

aft er Buyer

receives

t he

Com m it m ent , Except ion

Docum ent s,

and t he sur vey,

w hichever

is

earlier .

Buyer’s failure

t o obj ect w it hin

 

t he t im e

allow ed w ill const it ut e a w aiver

 

of Buyer’s right

t o

obj ect ;

except

t hat

t he requirem ent s

in

Schedule

C of

t he Com m it m ent

are not

waived.

Provided Seller is not obligat ed t o incur any ex pense, Seller shall cure t he t im ely obj ect ions

of Buyer or any t hird part y lender w it hin 15 days aft er Seller receives t he obj ect ions and t he

Closing Dat e w ill be ext ended as necessar y .

I f obj ect ions are not cured w it hin such 15 day

period, t his cont r act w ill t erm inat e and t he earnest

m oney w ill be refunded t o Buyer unless

Buyer w aives t he obj ect ions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E. TI TLE NOTI CES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 1)

ABSTRACT OR TI TLE POLI CY: Br oker adv ises Buy er t o have an abst ract of t it le covering

 

 

t he Propert y exam ined by an at t orney of Buy er’s select ion, or Buy er should be fur nished

 

 

w it h or obt ain

a Tit le Policy .

 

I f a

Tit le Policy is furnished, t he

Com m it m ent

should

be

 

 

prom pt ly

 

r ev iew ed by an at t or ney

of Bu y er ’s

choice

due

t o

t he

t im e lim it at ions

on

 

 

Buyer’s right t o obj ect .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 2)

MANDATORY OWNERS' ASSOCI ATI ON MEMBERSHI P: The Propert y

 

 

is

 

is not subj ect

 

 

t o

m andat ory

m em bership

in

an

 

ow ners' associat ion .

 

I f t he

Propert y

is

subj ect

t o

 

 

m andat ory

m em ber ship

in

 

an

ow ners' associat ion, Seller not ifies Buyer under

§5 . 012,

 

 

 

Texas Propert y Code, t hat ,

 

as

a

purchaser of propert y in

t he resident ial com m unit y

 

 

in w hich t he Propert y is locat ed,

you are obligat ed t o be

a m em ber of t he

ow ners'

 

 

associat ion . Rest r ict iv e covenant s governing t he use and occupancy of t he Propert y and

 

 

a dedicat ory in st r u m en t

governing

t he

est ablishm ent , m aint enance, and operat ion of

 

 

t his resident ial com m unit y have been or w ill be r ecorded in t he Real Propert y Recor ds of

 

 

t he count y in w hich t he Propert y is locat ed. Copies of t he rest rict ive covenant s and

 

 

dedicat ory inst rum ent m ay be obt ained from t he count y clerk . You are obligat ed t o pay

I nit ialed for ident ificat ion by Buy er

 

 

 

 

 

 

 

and Seller

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

 

 

 

 

 

Page 3 of 8 02 - 13 - 06

 

 

 

( Addr ess of Pr oper t y)

 

 

 

 

 

assessm ent s t o

t he ow ners'

associat ion . 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 r esult in a lien on and t he for eclosure

of t he Propert y . I f Buyer is

concerned about

t hese

m at t ers,

t he

TREC prom ulgat ed

Addendum for

Propert y Subj ect t o Mandat ory

Mem bership in

an

Ow ner 's Associat ion

should be used.

( 3) STATUTORY TAX DI STRI CTS: I f t he Propert y is sit uat ed in a ut ilit y or ot her st at ut orily creat ed dist rict prov iding w at er, sew er, drainage, or flood cont rol facilit ies and services, Chapt er 49, Texas Wat er Code, requires Seller t o deliver and Buyer t o sign t he st at ut ory not ice relat ing t o t he t ax rat e, bonded indebt edness, or st andby fee of t he dist rict pr ior t o final execut ion of t his cont ract .

( 4) TI DE WATERS: I f t he Propert y abut s t he t idally influenced w at ers of t he st at e, §33 . 135, Texas Nat ural Resources Code, r equires a not ice r egar ding coast al area propert y t o be included in t he cont ract . An addendum cont aining t he not ice prom ulgat ed by TREC or required by t he part ies m ust be used.

( 5) ANNEXATI ON: I f t he Propert y is locat ed out side t he lim it s of a m unicipalit y, Seller not ifies Buyer under §5 . 011, Texas Propert y Code, t hat t he Propert y m ay now or lat er be included in t he ext rat err it or ial j ur isdict ion of a m unicipalit y and m ay now or lat er be subj ect t o annexat ion by t he m unicipalit y . Each m unicipalit y m aint ains a m ap t hat depict s

it s boundaries and ext r at er r it or ial j urisdict ion . To

det erm ine if

t he Propert y

is locat ed

w it hin a m unicipalit y’s ext rat err it orial j ur isdict ion

or

is likely

t o be locat ed

w it hin a

m unicipalit y’s ext rat er rit orial j urisdict ion, cont act all m unicipalit ies locat ed in t he general

proxim it y of t he Propert 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 r eal proper t 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, which is aut horized by law t o provide w at er or sewer 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 her e 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 facilit ies necessar y t o provide w at er or sew er service t o your propert y . You are advised t o

det erm ine if t he propert y is in a cert ificat ed area

and cont act

t he ut ilit y service provider

t o det erm ine t he cost t hat

you w ill be required

t o pay and

t he period, if any,

t hat is

required t o pr ovide w at er

or sewer service t o

y our propert y . The under signed

Buyer

hereby 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 r eal proper t y .

 

 

 

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

is in a public im provem ent dist r ict ,

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

parcel of

real

proper t y you are obligat ed t o pay

an assessm ent t o a

m unicipalit y or

count y

for

an

im pr ovem ent proj ect

undert aken by

a public im provem ent dist r ict

under

Chapt er

372,

Local Governm ent

Code. The assessm ent m ay be due

annually

or in

periodic inst allm ent s. Mor e 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 failur e t o

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

 

7 . PROPERTY CON D I TI ON :

 

 

 

 

 

A. ACCESS,I NSPECTI ONS AND UTI LI TI ES:

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 perm it t ed by law t o m ake inspect ions. Seller at Seller's expense shall t urn on exist ing ut ilit ies for inspect ions.

B. SELLER'S DI SCLOSURE NOTI CE PURSUANT TO §5 . 008, TEXAS PROPERTY CODE ( Not ice) :

( Check one box only)

 

 

( 1)

Buyer has received t he Not ice.

 

 

( 2)

Buyer has not received t he Not ice. Wit hin

 

days aft er t he effect ive dat e of t his

 

cont ract , Seller shall deliver t he Not ice t o Buyer . I f Buyer does not receive t he Not ice,

 

Buyer m ay t erm inat e t his cont r act at any

t im e pr ior t o t he closing and t he ear nest

 

m oney w ill be refunded t o Buyer . I f Seller delivers t he Not ice, Buyer m ay t erm inat e

 

t his cont ract for any reason w it hin 7 days aft er Buyer receives t he Not ice or prior t o

 

t he closing, w hichever first occurs, and t he earnest m oney w ill be refunded t o Buyer .

( 3)

The Seller is not required t o furnish t he not ice under t he Texas Propert y Code.

C.SELLER’S DI SCLOSURE OF LEAD- BASED PAI NT AND LEAD- BASED PAI NT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978.

D.ACCEPTANCE OF PROPERTY CONDI TI ON: Buyer accept s t he Pr oper t y in it s present condit ion;

provided Seller , at Seller’s

expense, shall com plet e t he follow ing

specific r epair s and

t reat m ent s:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E. LENDER REQUI RED REPAI RS AND TREATMENTS: Unless ot h er w ise agreed in w r it ing, neit her

part y is obligat ed t o pay for

lender required r epairs, w hich includes

t reat m ent for w ood

I nit ialed for ident ificat ion by Buy er

 

 

 

 

and Seller

 

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

Page 4 of 8 02 - 13 - 06

( Addr ess of Pr oper t y)

dest roying insect s. I f t he part ies do not agree t o pay for t he lender required repair s or t reat m ent s, t his cont r act w ill t erm inat e and t he earnest m oney will be refunded t o Buyer . I f t he cost of lender required repairs and t r eat m ent s exceeds 5% of t he Sales Price, Buyer m ay t erm inat e t his cont ract and t he earnest m oney w ill be refunded t o Buyer .

F.COMPLETI ON OF REPAI RS AND TREATMENTS: Unless ot herw ise agreed in w rit ing, Seller shall com plet e all agr eed repairs and t reat m ent s prior t o t he Closing Dat e. All requir ed perm it s m ust be obt ained, and r epairs and t reat m ent s m ust be per form ed by per sons w ho

are licensed or ot herw ise aut horized by law t o pr ovide such r epairs or t reat m ent s. At Buyer’s elect ion, any t ransferable w ar rant ies received by Seller w it h respect t o t he r epairs and t reat m ent s w ill be t ransferred t o Buyer at Buyer’s expense. I f Seller fails t o com plet e any agreed repairs and t reat m ent s prior t o t he Closing Dat e, Buyer m ay do so and receive reim bursem ent from Seller at closing. The Closing Dat e w ill be ext ended up t o

15 days, if necessar y, t o com plet e repairs and t reat m ent s.

 

G. ENVI RONMENTAL MATTERS: Buyer

is advised

t hat t he presence of

w et lands, t oxic

subst ances, 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.

 

 

 

H. RESI DENTI AL SERVI CE CONTRACTS: Buyer m ay

pur chase a resident ial service cont ract

fr om a r esident ial service

com pany

licensed by TREC. I f

Buyer

purchases a

resident ial

service cont ract , Seller

shall reim burse Bu y er at

closing

for t he cost of t he

r esident ial

service cont r act in an am ount not exceeding $

 

 

 

 

.

Buyer should review any

resident ial service cont ract

for t he

scope of cover age,

exclusions and

lim it at ions. Th e

p u r ch a se of a r e side n t ia l se r vice

con t r a ct is opt ion a l. Sim ila r cov e r a g e m a y b e

p u r ch a se d fr om va r iou s com pa n ie s a u t h or iz e d t o d o b u sin e ss in Te x a s.

 

8 . BROKERS' FEES: All obligations of the parties for paym ent of brokers’ fees are contained in separate written agreem ents.

9 . CLOSI N G:

 

 

 

 

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

 

 

, 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 part y fails t o close t he sale by t he Closing Dat e, t he

non - default ing par t y m ay exer cise t he rem edies cont ained in Par agraph 15 .

 

B. At closing:

 

 

 

 

( 1)

Seller shall execut e and deliver a gener al w arrant y deed conveying t it le t o t he Proper t 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 ax es on t he Proper t y .

 

( 2)

Buy er 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

r equired of

t hem

by

t his

 

cont r act , t he Com m it m ent

or law

necessary

for

t he

closing

of t he

sale

and

t he

 

issu an ce of t he Tit le Policy .

 

 

 

 

 

 

 

 

 

 

C. 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 offer s.

 

 

 

 

 

 

D. All covenant s, r epresent at ions and w arrant ies in t his cont ract sur vive closing.

 

 

 

1 0 . POSSESSI ON : Seller shall deliver to Buyer possession of the Property in its present or required

condition, ordinary wear and tear excepted: upon closing and funding according to a tem porary residential lease form prom ulgated by TREC or ot her written lease required by t he parties. Any possession by Buyer prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties.

Consult your insura nce a gent prior t o change of ow nership and posse ssion because insur ance coverage m ay be lim it ed or t erm inat ed. The absence of a w r itt en lea se or appropriat e insurance coverage m ay e xpose t he parties to econom ic loss.

1 1 . SPECI AL PROV I SI ON S: ( I nsert only fact ual st at em ent s and business det ails applicable t o t he sale. TREC rules prohibit licensees fr om adding fact ual st at em ent s or business det ails for w hich a cont r act addendum , lease or ot her for m has been prom ulgat ed by TREC for m andat ory use. )

I nit ialed for ident ificat ion by Buy er

 

 

 

and Seller

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

 

Page 5 of 8

02 - 13 - 06

 

( Addr ess of Pr oper t y)

 

 

 

 

1 2 . SETTLEM EN T AN D OTH ER EX PEN SES:

 

 

 

 

A. The follow ing expenses m ust be paid at or prior t o closing:

 

 

 

 

( 1) Expenses payable by Seller ( Seller's Expenses) :

 

 

 

 

( a) Releases of exist ing liens, including prepay m ent penalt ies and recor ding fees;

release

of Seller’s loan liabilit y; t ax st at em ent s or cert ificat es;

preparat ion of deed; one- half

of escrow fee; and ot her expenses payable by Seller under t his cont ract .

 

( b) Seller shall also pay an am ount not t o exceed $

 

 

t o be applied

in t he

follow ing order: Buyer ’s Expenses w hich Buyer is prohibit ed from paying by FHA, VA, Texas Vet er ans Housing Assist ance Program or ot her gover nm ent al loan pr ogram s,

and t hen t o ot her Buyer’s Expenses as allow ed by t he lender .

 

 

 

( 2) Expenses payable by Buyer ( Buyer 's Expenses) :

 

 

 

 

( a) Loan originat ion, discount , buy - dow n, and com m it m ent fees ( Loan Fees) .

 

 

( b) Appr aisal fees; loan applicat ion fees; credit report s;

preparat ion of

loan

docum ent s;

int erest on t he not es from

dat e of disbursem ent

t o one m ont h

prior t o

dat es

of first m ont hly paym ent s;

recording fees; copies

of easem ent s

and

rest rict ions;

m ort gagee t it le policy w it h endorsem ent s required by lender; loan - relat ed inspect ion

fees; phot os; am ort izat ion

schedules; one- half of

escr ow fee; all prepaid

it em s,

including required pr em ium s for flood and hazard

insurance, r eserve

deposit s for

insurance, ad valorem t axes and special governm ent al assessm ent s; final com pliance inspect ion; cour ier fee; r epair inspect ion; underw rit ing fee; w ire t ransfer fee; expenses incident t o any loan; and ot her expenses payable by Buyer under t his cont ract .

B. Buyer shall pay Pr ivat e Mor t gage I nsurance Prem ium ( PMI ) , VA Loan Funding Fee, or FHA Mort gage I nsurance Prem ium ( MI P) as required by t he lender .

C. I f any expense exceeds an am ount expressly st at ed in t his cont r act for

such expense t o be

paid by a part y, t hat part y m ay t erm inat e t his cont ract unless t he ot her

part y agrees t o pay

such excess. Buyer m ay not pay charges and fees expressly pr ohibit ed by FHA, VA, Texas Vet erans Housing Assist ance Pr ogr am or ot her governm ent al loan program r egulat ions.

1 3 . PRORATI ON S: Taxes for t he current year, int erest , m aint enance fees, assessm ent s, dues and rent s w ill be prorat ed t hrough t he Closing Dat e. The t ax pr or at ion m ay be calculat ed t aking int o considerat ion any change in exem pt ions t hat w ill affect t he current year's t axes. I f t axes for t he

current year vary from t he am ount prorat ed at

closing, t he part ies shall adj ust

t he prorat ions

w hen t ax st at em ent s for t he current year are

available. I f t axes ar e not paid

at or prior t o

closing, Buyer shall pay t axes for t he current year .

 

1 4 . CASUALTY LOSS: I f any part of t he Propert y is dam aged or dest royed by fire or ot her casualt y aft er t he effect ive dat e of t his cont ract , Seller shall rest ore t he Propert y t o it s prev ious condit ion as soon as reasonably possible, but in any event by t he Closing Dat e. I f Seller fails t o do so due t o fact ors beyond Seller’s cont rol, Buyer m ay ( a) t erm inat e t his cont ract and t he earnest m oney w ill be refunded t o Buyer ( b) ext end t he t im e for perfor m ance up t o 15 days and t he Closing Dat e w ill be ext ended as necessary or ( c) accept t he Pr oper t y in it s dam aged condit ion w it h an assignm ent of insur ance proceeds and receive credit fr om Seller at closing in t he am ount of t he deduct ible under t he insurance policy . Seller ’s obligat ions under t his paragraph ar e independent of any ot her obligat ions of Seller under t his cont ract .

1 5 . D EFAULT: I f Buyer fails t o com ply w it h t his cont r act , Buyer w ill be in default , and Seller m ay ( a) enforce specific perform ance, seek such ot her relief as m ay be provided by law , or bot h, or

( b) t erm inat e t his cont ract

and receive

t he

earnest

m oney

as

liquidat ed dam ages, t hereby

releasing bot h part ies fr om

t his cont ract . I f,

due t o fact ors beyond Seller’s cont rol, Seller fails

w it hin t he t im e allow ed t o

m ake any

non- casualt y

r epairs

or

deliver t he Com m it m ent , or

survey, if required of Seller, Buyer m ay ( a) ext end t he t im e for perform ance up t o 15 days and

t he Closing Dat e w ill

be

ext ended as

necessary

or

( b) t erm inat e t his cont ract as t he

sole

rem edy and receive t he earnest m oney .

I f Seller fails t o com ply w it h t his cont r act for any ot her

reason, Seller w ill be

in

default and Buyer m ay

( a)

enforce specific per form ance, seek

such

ot her relief as m ay be provided by law , or bot h, or ( b) t erm inat e t his cont r act and receive t he earnest m oney, t hereby releasing bot h part ies from t his cont ract .

1 6 . M ED I ATI ON : I t is t he policy of t he St at e of Texas t o encourage r esolut ion of disput es t hrough

alt er nat ive disput e resolut ion

procedures such as m ediat ion . Any disput e bet w een Seller and

Buyer relat ed t o t his cont r act w hich is not r esolved t hrough inform al discussion

w ill

w ill not

be subm it t ed t o a

m ut ually

accept able m ediat ion ser v ice or provider . The

par t ies

t o t he

m ediat ion shall bear

t he m ediat ion cost s equally .

This par agraph

does not preclude

a par t y

from seeking equit able relief from a court of com pet ent j urisdict ion .

 

 

 

 

1 7 . ATTORN EY'S FEES: The prevailing par t y in any

legal proceeding

relat ed t o

t his cont ract is

ent it led t o r ecov er reasonable at t orney’s fees and all cost s of such proceeding incur red by t he

prevailing part y .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I nit ialed for ident ificat ion by Buy er

 

 

 

 

and Seller

 

 

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

Page 6 of 8 02 - 13 - 06

( Addr ess of Pr oper t y)

1 8 . ESCROW :

A. ESCROW: The escrow agent is not ( i) a part y t o t his cont ract and does not have liabilit y for t he perform ance or nonperform ance of any part y t o t his cont r act , ( ii) liable for int erest

on t he 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 ear nest

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

fir st t o

any

cash

dow n

paym ent , t hen

t o Buyer 's Expenses

and any

excess

r efunded

t o Buyer .

I f

no

closing

occurs, escr ow agent m ay require pay m ent of unpaid expenses incur red on behalf of t he part ies and a w rit t en r elease of liabilit y of escrow agent from all part ies.

C.DEMAND: Upon t erm inat ion of t his cont ract , eit her par t y or t he escrow agent m ay send a release of earnest m oney t o each part y and t he part ies shall ex ecut e count erpart s of t he

release and deliver sam e t o t he escrow agent . I f eit her part y fails t o execut e t he release, eit her par t y m ay m ake a w rit t en dem and t o t he escrow agent for t he earnest m oney . I f only one part y m akes w rit t en dem and for t he ear nest m oney, escrow agent shall prom pt ly provide a copy of t he dem and t o t he ot her part y . I f escrow agent does not receive w r it t en obj ect ion t o t he dem and from t he ot her part y w it hin 15 days, escrow agent m ay disbur se t he earnest m oney t o t he part y m aking dem and reduced by t he am ount of unpaid expenses incurred on behalf of t he part y receiving t he earnest m oney and escrow agent m ay pay t he sam e t o t he credit ors. I f escrow agent com plies w it h t he provisions of t his paragraph, each part y hereby r eleases escr ow agent from all adverse claim s relat ed t o t he disbur sal of t he ear nest m oney .

D. DAMAGES: Any part y w ho w rongfully fails or refuses t o sign a release accept able t o t he escrow agent w it hin 7 days of receipt of t he request w ill be liable t o t he ot her part y for liquidat ed dam ages of t hree t im es t he am ount of t he earnest m oney .

E.NOTI CES: Escrow agent 's not ices w ill be effect ive w hen sent in com pliance w it h Paragraph 21 . Not ice of obj ect ion t o t he dem and w ill be deem ed effect ive upon receipt by escrow agent .

19 . REPRESEN TATI ON S: Seller r epresent s t hat as of t he Closing Dat e ( a) t here 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 proceeds unless securing paym ent of any loans assum ed by Buyer and ( b) assum ed loans w ill not be in default . 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 .

2 0

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

 

or if Seller fails t o deliver an affidav it 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 appropriat e t ax

 

for m s. I nt ernal Rev enue Service regulat ions require filing w r it t en report s if cur rency in excess

 

of specified am ount s is r eceived in t he t ransact ion .

2 1

. N OTI CES: All not ices from one par t y t o t he ot her m ust be in w rit ing and are effect ive w hen

 

m ailed t o, hand- delivered at , or t ransm it t ed by facsim ile or elect ronic t ransm ission as follow s:

To Bu y e r a t :

To Se lle r a t :

Telephone:

(

)

Facsim ile:

(

)

Telephone:

(

)

Facsim ile:

(

)

E- m ail:

 

E- m ail:

I nit ialed for ident ificat ion by Buy er

 

 

 

and Seller

 

 

 

TREC NO. 20 - 7

Cont r act Concerning

 

Page 7 of 8 02 - 13 - 06

 

( Addr ess of Pr oper t y)

2 2 . AGREEM EN T OF PARTI ES: This cont ract cont ains t he ent ire agreem ent of t he part ies and cannot be changed except by t heir w r it t en agreem ent . Addenda w hich are a part of t his cont r act are ( Check all applicable boxes) :

Third Part y Financing Condit ion

 

Addendum for Propert y Subj ect t o Mandat ory

Addendum

 

Mem ber ship in an Owners' Associat ion

Seller Financing Addendum

 

Environm ent al Assessm ent , Threat ened or

 

 

Endangered Species and Wet lands Addendum

Loan Assum pt ion Addendum

 

Addendum for " Back - Up" Cont ract

 

 

Buyer’s Tem porar y Resident ial Lease

 

Addendum for Coast al Ar ea Propert y

 

 

Seller's Tem porary Resident ial Lease

 

Addendum for Propert y Locat ed Seaw ard of

 

 

t he Gulf I nt racoast al Wat erw ay

 

 

Addendum for Sale of Ot her Propert y

 

Addendum for Release of Liabilit y on

 

 

by Buyer

 

Assum pt ion of FHA, VA, or Convent ional Loan

 

 

Rest orat ion of Seller’s Ent it lem ent for VA

 

 

Guarant eed Loan

 

 

Addendum for Seller's Disclosure of

 

Ot her ( list ) :

 

 

I nform at ion on Lead- based Paint and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lead- based Paint Hazards as Required

 

 

 

 

 

 

 

 

 

 

 

 

 

 

by Feder al Law

 

 

 

 

 

 

 

2 3 . TERM I N ATI ON OPTI ON : For nom inal

considerat ion, t he receipt of w hich is hereby

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

 

 

( Opt ion Fee)

w it hin 2 days aft er t he effect ive dat e of t his cont ract , Seller grant s Buyer t he unrest r ict ed r ight

t o t erm inat e t his cont ract by giving not ice of t erm inat ion t o Seller w it hin

 

 

days aft er t he

effect ive dat e of t his cont ract .

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 w it hin

t he t im e pr escribed,

t his paragr aph w ill not

be a part of t his

cont r act and Buyer shall not have t he unrest r ict ed r ight t o t erm inat e t his cont ract . 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

will

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 p a r a gr a ph a n d

st r ict

com p lia 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 .

 

 

 

 

 

2 4 . CON SU LT AN ATTORN EY: Real est at e licensees

cannot

give

legal

adv ice.

READ THI S

CONTRACT CAREFULLY. I f y ou do not underst and t he effect of t his cont ract , consult an at t orney BEFORE signing.

Buy er's

 

Seller's

At t orney is:

 

At t orney is:

Telephone:

(

)

 

 

Telephone:

(

)

 

Facsim ile:

(

)

 

 

Facsim ile:

(

)

 

E- m ail:

 

 

 

 

E- m ail:

 

 

 

EX ECU TED 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. )

 

 

 

 

Buy er

 

Seller

 

 

 

 

 

 

 

 

 

 

Buy er

 

Seller

 

 

The for m of t his cont ract has been approved by t he Texas Real Est at e Com m ission.

TREC for m s ar e int ended for use only by t r ained r eal

est at e licensees. No repr esent at ion is m ade as t o t he legal validit y

or adequacy of

any provision in any specific t r ansact ions. I t is not

int ended for com plex t r ansact ions. Texas Real Est at e Com m ission, P. O. Box 12188, Aust in, TX 78711 - 2188, 1 - 800 - 250 - 8732 or ( 512) 459- 6544 ( ht t p: / / www . t rec. st at e. t x. us) TREC NO. 20 - 7 . This for m r eplaces TREC NO. 20- 6 .

I nit ialed for ident ificat ion by Buy er

and Seller

TREC NO. 20 - 7

 

 

 

Cont r act Concerning

 

Page 8 of 8 02 - 13 - 06

 

( Addr ess of Pr oper t y)

BROKER I N FORM ATI ON AN D

RATI FI CATI ON OF

FEE

 

 

List ing Br oker has agr eed t o pay Ot her Br oker

 

 

 

of

t he t ot al

sales

pr ice

w hen List ing Br oker’s fee is r eceiv ed. Escr ow Agent is

aut hor ized and dir ect ed

t o

pay Ot her

Br oker

fr om

List ing Br oker’s fee at closing.

 

 

 

 

 

 

Ot her Br oker

License No.

r epr esent s

Buy er only as Buy er’s agent

 

Seller as List ing Br ok er ’s subagent

List ing Br oker

License No.

r epr esent s

Seller and Buy er as an int erm ediary

 

Seller only as Seller ’s agent

Associat e

 

Telephone

 

 

 

Broker 's Addr ess

 

 

 

 

 

Cit y

St at e

Zip

 

 

 

Facsim ile

 

 

 

 

 

Em ail Addr ess

 

 

List ing Associat e

 

Telephone

 

 

 

List ing Associat e’s Office Addr ess

 

Facsim ile

 

 

 

Cit y

St at e

Zip

 

 

 

Em ail Addr ess

 

 

 

 

 

Selling Associat e

 

Telephone

 

 

 

Selling Associat e’s Office Addr ess

 

Facsim ile

 

 

 

Cit y

St at e

Zip

 

 

 

Em ail Addr ess

 

 

 

 

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 $

 

Ear nest Money in t he for m of

 

 

 

 

is acknow ledged.

 

 

 

 

 

 

 

 

 

 

 

 

Escrow Agent :

 

 

 

 

 

Dat e:

 

 

 

 

 

By :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Em ail Addr ess

 

 

 

 

 

 

 

 

 

 

 

Telephone (

)

 

Addr ess

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Facsim ile: (

 

)

 

Cit y

St at e

Zip

 

 

 

 

 

 

I nit ialed for ident ificat ion by Buy er

and Seller

TREC NO. 20 - 7

 

 

 

How to Edit Texas Trec Residential Contract Form Online for Free

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Step 2: As you open the online editor, you will get the form prepared to be completed. Apart from filling in different blanks, you could also do many other things with the Document, that is putting on custom textual content, editing the initial textual content, inserting illustrations or photos, putting your signature on the PDF, and more.

This form will need you to provide specific details; in order to ensure accuracy and reliability, please make sure to take into account the subsequent guidelines:

1. To start with, once filling out the trec 1 4 residential contract, start with the page that contains the next fields:

Ways to complete residential contract tx stage 1

2. Your next step is usually to submit these fields: C ACCESSORIES The following, D EXCLUSIONS The following, must be removed prior to delivery, E RESERVATIONS Any reservation for, interests is made in accordance, SALES PRICE, A Cash portion of Sales Price, Loan Assumption Addendum Seller, LEASES Except as disclosed in, A RESIDENTIAL LEASES The Property, Addendum Regarding Residential, B FIXTURE LEASES Fixtures on the, and C NATURAL RESOURCE LEASES Natural.

A RESIDENTIAL LEASES The Property, SALES PRICE, and D EXCLUSIONS The following in residential contract tx

3. The following part should be relatively uncomplicated, Initialed for identification by, and TREC NO - all these fields must be completed here.

Step no. 3 in filling out residential contract tx

People generally make mistakes when filling out TREC NO in this section. You need to double-check whatever you type in here.

4. Completing Contract Concerning Page of, EARNEST MONEY AND TERMINATION, Address of Property, A DELIVERY OF EARNEST MONEY AND, must deliver to as earnest money, address, as escrow agent at, escrow, agent, within, days after the Effective Date of, If the last day to deliver the, The amounts escrow agent receives, Option Fee then to the earnest, and Buyer authorizes escrow agent to is vital in this step - be sure to don't rush and take a close look at every single blank!

Filling in part 4 of residential contract tx

5. Finally, the following final segment is precisely what you have to wrap up before submitting the PDF. The blanks in this case include the next: B TERMINATION OPTION For nominal, C FAILURE TO TIMELY DELIVER, D FAILURE TO TIMELY DELIVER OPTION, E TIME Time is of the essence for, performance is required TITLE, A TITLE POLICY Seller shall, and Property is located.

Tips to complete residential contract tx part 5

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