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Odifications of this form must be clearly shown. This Contract is recommended for the sale of improved or unimproved residential real estate. If used for new construction or commercial real estate, appropriate modification is required. CAUTION: This Contract contains an Attorney Approval Contingency. Read Paragraph ATC1 carefully. CAUTION: Substituting pages of a signed Contract could result in an unenforceable Contract or a Fraud Claim. CONTRACT Date: 1. ( Contract Date ) PARTIES. The pa.

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How to fill out the RESIDENTIAL CONTRACT (Revised 03/15/18) online

Filling out the Residential Contract online can streamline your real estate transaction and ensure that all necessary information is accurately captured. This guide offers clear, step-by-step instructions to assist you in completing the contract effectively.

Follow the steps to complete the form accurately

  1. Click the ‘Get Form’ button to obtain the contract and open it in the editor.
  2. Enter the Contract Date in the designated field. This is the date when the contract becomes effective.
  3. In the Parties section, provide the names and addresses of the Seller and Purchaser, ensuring all information is complete and accurate.
  4. Describe the Property in detail, including the street address, county, and tax map identifier. Use the appropriate fields to include any additional description, current uses, and improvements.
  5. Fill in the Purchase Price, including any Seller’s Concession and deposit amounts, making sure to specify the escrow agent and relevant bank details.
  6. This section requires acknowledging the condition of the Property and Included Items. Ensure compliance with the specified maintenance obligations until Closing.
  7. Complete the Seller’s Disclosures by answering each question truthfully and selecting 'Yes' or 'No' as applicable.
  8. Sign and date the document in the designated sections for all parties involved. Ensure that all initials are also provided where indicated.
  9. Lastly, review the entire document for accuracy before saving changes. You can then download, print, or share the completed form as needed.

Complete your documents online for a smoother transaction process.

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The buyers' right to terminate the contract ends on the last day of the option period at 5 p.m. local time where the property is located. This is the only deadline in the entire contract that has an actual time of day for performance.

Who is responsible for filling in the effective date? The broker. This date is also the effective date of the option period. the money must be deposited in a trust account by the close of the business of the second business day after the effective date of the contract.

The effective date is determined by the date the contract is agreed to by both parties in writing and communicated between the parties. Either the buyers agent or the sellers agent can fill the final acceptance date in on the contact.

Promulgated contract forms are forms that are both approved and required by the Texas Real Estate Commission. These will be used by agents and brokers alike during transactions to make the agreement's official.

The broker is responsible for filing in the effective date after the last party signs. Lease addendum for buyer or seller 90 day period. -All TREC contracts have a default paragraph.

The effective date should always be filled in on page 8 of the contract and the responsibility for completion falls to the Realtors involved in the transaction.

Description: This is the most frequently used contract form. It is used for the resale of residential properties that are either a single family home, a duplex, a tri-plex or a four-plex.

Under Paragraph 23, Termination Option, buyers may pay a fee for the option to terminate the contract within a negotiated number of days. The option fee must be paid to the sellers—not to the title company—within three days after the effective date.

What happens to the earnest money if the buyer terminates within the option period under paragraph 23 of the TREC One to Four Family Residential Contract? The earnest money is refunded to the buyer.

The six main sales contracts, including residential, condo, new construction (complete and incomplete), farm and ranch, and unimproved property. The professional perils of using contracts that are not promulgated by TREC.

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