Unimproved Property Contract (Form ID: 9-16): This contract form is for property that does not have physical buildings, additions or fixtures on the land. It is generally used for property that has been platted (has a recorded Lot/Block legal description). It is not for use for condominium transactions.
Unimproved property means property upon which no residential, commercial, or other building has been built.
Under the TREC Unimproved Property Contract, why should an adequate termination option be purchased? The answer is to provide a sufficient amount of time to make absolutely certain that the property is suitable.
A listing agreement is between the parties that own a property and the agents or brokers who will find a buyer for it. Typically, a real estate listing agreement involves the property owner and a real estate agent. The property owner, or seller, grants the agent the right to market and sell the property.
The unimproved property Texas sales contract is designed to be used for transactions that are related to the sale of land that has not yet been developed. This would be residential or commercial land that does not have a structure built on it yet. This would not include condominium properties.
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.
Unimproved Property Contract (Form ID: 9-16): This contract form is for property that does not have physical buildings, additions or fixtures on the land. It is generally used for property that has been platted (has a recorded Lot/Block legal description).