This form grants to a realtor or broker the sole and exclusive right to list and show the property described in the agreement on one occasion. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Listing Agreement Form For Unimproved Property In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00056DR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Description: 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).
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.
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 buyer must give written termination notice to the seller on or before 5 p.m. local time where the property is located on the last day of the option period in the contract. Paragraph 21 of the contract sets out the requirements for delivery of notices between the parties.
Unimproved land (sometimes known as vacant lots or more commonly raw land) is land that does not have any active services or public utilities running through it like water lines, electricity or even street access from the public roadways.
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.
It might be easiest to start with what the unimproved property contract is NOT used for. This contract form is for a property that does not have physical buildings, additions, or fixtures on the land. Example of a Lot/Block legal description.
It is generally easier for a seller to terminate a land contract and recover possession of the property. Why? Because courts generally do not view land contracts as functionally equivalent to mortgages so they are usually not subject to mortgage laws.
