TREC One to four family residential contract

trec one to four family residential contract
Create My Document
Edit
Fill out
Sign
Export or Print

TREC is a Texas Real Estate Commission that regulates inspectors, salespersons, brokers, and other real estate professionals. This residential association shows excellent results in customer service, financial oversight, and technology systems. The Texas Sunset Commission offers improvements to many real estate agencies and therefore helps them to work effectively. And the Texas Real Estate Commission meets the requirements of the Texas Sunset Commission.

Why Do You Need to Complete the TREC One to Four-Family Contract (Resale) Form?

The TREC One to Four-Family Contract (Resale) Form is the one that sides of the residential process use and complete the most. You need to complete it if you want to resale residential individuals’ properties. These residential properties include a single-family home, a duplex, a triplex, and a four-plex.

How to Complete the TREC Form?

1. Download the free TREC One to four-family residential contract 02-12-2018 template.

2. Write down the full names of both parties of the residential contract (trader and consumer). By doing this, a consumer consent to purchase the trader’s estate, and a trader agrees to transfer his estate to the consumer’s right of ownership.

step 2 write down the full names of both parties - filling out a trec form
3. Give detailed information on the estate, including country, city, zip code, block, and lot. Add all accessories coming with the estate. They can be curtains, door keys, kitchen equipment, swimming pool, entry gates, fireplace, stove, fireplace logs, and others. Also, state what accessories a trader wants to keep to himself before signing the residential contract. Give a list of those.

step 3 give detailed information on the estate - filling out a trec form
4. Establish the final price for the estate in American dollars. If there’s a third-party financing addendum, seller financing addendum, or loan assumption addendum, fill in the contract.

step 4 establish the final price for the estate - filling out a trec form
5. Give the information about the license holder, as the Texas state law requires for completing the estate transferring process.

step 5 give the information about the license holder - filling out a trec form
6. Write down the date on which a consumer must deposit earnest money to a trader. Fill in the address where that money has to be transferred. If a consumer won’t do it on the established date, a trader has the right to cancel the whole deal.

step 6 write down the date on which a consumer must deposit earnest money to a trader - filling out a trec form
7. Give information about an owner’s policy of title insurance. A trader is the one who needs to provide this document to a consumer, but they can decide whether they’re doing it at their or the consumer’s expense. Exceptions and exclusions of the agreed provisions of the Title Policy must be stated in the residential contract as well.

step 7 give information about an owner's policy of title insurance - filling out a trec form
8. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
9. Thoroughly read the commitment of the deal before signing the residential contract.

10. Complete the survey, choose the one option only. Only a registered professional land surveyor has the right to perform this procedure.

step 10 complete the survey, choose the one option only - filling out a trec form
11. Write down the objections to the contract’s statements if you have any. You won’t have this opportunity anymore.

step 11 write down the objections to the contract’s statements if you have any - filling out a trec form
12. Choose if the estate will be a member of the property owner’s associations.

step 12 choose if the estate will be a member of the property owner’s associations - filling out a trec form
13. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
14. Attentively read all details of the future residential contract, involving information on the statutory tax districts, tidewaters, annexation of the estate, whether the estate is in an approved service area of a utility service provider, belonging of the estate to the public improvement districts, belonging it to the propane gas system service area, and check if there’re water level fluctuations in the area.

15. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
16. Give information on the estate’s condition, covering if a consumer got a trader’s disclosure notice or not. Also, highlight if a consumer takes the estate as it is or not. If a consumer wants a trader to complete some repairs, he needs to write it down. Try not to use general phrases. Environmental matters must be considered while establishing demands for the estate’s repairs and treatments.

step 16 give information on the estate’s condition - filling out a trec form
17. If a consumer wants to obtain the residential service contract from a TREC’s approved residential service company, he has the right to do it. A trader has to compensate for the money spent by a consumer. The sum of the compensation must be stated in the contract in American dollars.

step 17 obtain the residential service contract from a trec’s - filling out a trec form
18. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
19. Give details of the sale’s closing. Fill in the date of the closing. Both parties of the estate’s sale need to agree with this date.

step 19 give details of the sale’s closing - filling out a trec form
20. State the details of a consumer’s possession of the property. Choose the option that suits your interests the most. Also, check the lease details.

step 20 state the details of a consumer’s possession of the property - filling out a trec form
21. Write down the special provisions, if there are any. Include only business details and factual statements.

step 21 write down the special provisions, if there are any - filling out a trec form
22. Establish the expenses incurred during the residential process. Both a trader and a consumer must write down their expenses in American dollars.

step 22 establish the expenses incurred during the residential process - filling out a trec form
23. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
24. Carefully read the information on the prorations, casualty loss, default, mediation, fees of an attorney, escrow agent, the conditions of depositing the earnest money, possible estate’s damages.

25. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
26. Approve that all representations, covenants, and warranties survive closing. Check the federal tax requirements.

27. Add addresses of both parties of the residential process so they can send each other their written notices. Write down their emails, faxes, and mobile phones.

step 27 add addresses of both parties of the residential process - filling out a trec form
28. Choose the additions to the parties’ agreement. If you decide to do it after signing the contract, you can do it only in a written way. If there’s no needed additional document in the list, you can add it yourself.

step 28 choose the additions to the parties’ agreement - filling out a trec form
29. Both a consumer and a trader have to leave signatures at the bottom of each page approving their identification of the established residential contract’s amendments. Estate’s address must be written down after signatures every time.

step 8 both a consumer and a trader have to leave signatures at the bottom of each page - filling out a trec form
30. State the details of the residential contract termination. Choose how much is the fee a consumer has to pay to a trader. Write it in American dollars.

step 30 state the details of the residential contract termination - filling out a trec form
31. Show the residential contract to your attorney before signing it. Real estate license holders can’t give you any advice due to the TREC rules. Attorneys of both parties have to sign the contract and write down their faxes, emails, and mobile phones.

step 31 show the residential contract to your attorney before signing it - filling out a trec form
32. Write down the effective date of the residential contract.

step 32 write down the effective date of the residential contract - filling out a trec form
33. Both a trader and a consumer need to sign the approved legal document. Estate’s address must be written down after signatures.

step 33 both a trader and a consumer need to sign the approved legal document - filling out a trec form
34. Give detailed information on the brokers. Include both brokers’ firms and their license numbers. Establish who from brokers represent a consumer and who represents a trader. Include brokers’ emails, associate’s and listing associate’s names, certified supervisors of associate and listing associate, selling associate’s name, email, certified supervisor, and office address. The address must include state, city, and zip code. Write down how much money a listing broker pays to another broker.

step 34 give detailed information on the brokers - filling out a trec form
35. Add the estate’s address after this.

step 35 add the estate’s address after this - filling out a trec form
36. Complete the Option Fee Receipt. Write down the amount of the option fee in American dollars. A listing broker or a seller has to sign the receipt and fill in the effective date.

step 36 complete the option fee receipt - filling out a trec form
37. Fill out the Earnest Money Receipt. Write down the amount of earnest money in American dollars. An escrow agent has to sign the receipt, write down the effective date, email, city, state, zip code, fax, address, and mobile phone.

step 37 fill out the earnest money receipt - filling out a trec form
38. Complete the Contract Receipt. This receipt approves the contract’s receipt. An escrow agent has to sign the receipt, write down the effective date, email, city, state, zip code, fax, address, and mobile phone.

step 38 complete the contract receipt - filling out a trec form
39. Fill out the Additional Earnest Money Receipt. Write down the amount of additional earnest money in American dollars. An escrow agent has to sign the receipt, write down the effective date, email, city, state, zip code, fax, address, and mobile phone.

step 39 fill out the additional earnest money receipt - filling out a trec form