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Before TREC even considers a contract form for promulgation, the Broker-Lawyer Committee must identify a real estate transaction requiring a standardized contract. There are six main sales contracts that TREC promulgates.
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.
Six contract forms are currently promulgated by TREC. The One to Four Family Residential Contract requires the survey to be acceptable to whom? The statement is TITLE COMPANY. Paragraph 6(c) requires the survey to be acceptable to the title company and also to any lender.
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.
Chat Promulgated Contracts. One to Four Family Residential Contract (Resale) ... Promulgated Addenda. Third Party Financing Condition Addendum for Credit Approval. ... Resale Certificates. Condominium Resale Certificate. ... Promulgated Disclosures. ... Promulgated Notices. ... 1 amendment. ... 5 optional or approved forms.
Does TREC have an improved commercial earnest money contract form? Answer: No. You must use a form drafted by an attorney or a form supplied by either the buyer or seller.
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.
TREC has six (6) Promulgated contract forms. Please be sure you are using the correct form for the type of property: 1-4 Family Residential is for 1-4 UNITS; condominium contract form has specific condo requirements.