Real Estate Sales Form Contract With Texas
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FAQ
The Broker-Lawyer Committee drafts and revises contract forms for use by real estate license holders. The purpose is to expedite real estate transactions and reduce controversies while protecting the interests of the parties involved.
A Seller's Disclosure Notice (TREC form OP-H or TXR 1406) is required in residential transactions by Property Code Section 5.008: ?A seller of residential real property comprising not more than one dwelling unit located in this state shall give to the purchaser of the property a written notice as prescribed by this ...
As public records, contract forms adopted by the Texas Real Estate Commission are available to any person. Real estate license holders are required to use these forms. However, TREC contract forms are intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use.
The Broker-Lawyer Committee drafts and edits forms, whereas TREC approves and promulgates forms.
In Texas, the most common form of residential sales contract is the One to Four Family Residential Contract (Resale). This is the most commonly used residential real estate contract in Texas. That is because it can be easily modified and still provide all of the protections for both buyers and sellers.