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TX TREC One to Four Family Residential Contract (Resale) 2024-2025 free printable template
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The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained real estate license holders. Contract Concerning Page of 11 Property PROMULGATED BY THE Address TEXASofREAL ESTATE COMMISSION TREC 11-04-2024 ONE TO FOUR FAMILY RESIDENTIAL CONTRACT RESALE NOTICE Not For Use For Condominium Transactions EQUAL HOUSING OPPORTUNITY 1. PARTIES The parties to this contract are Seller and Buyer. Seller agrees to sell and convey to Buyer and...Buyer agrees to buy from Seller the Property defined below. 2. PROPERTY The land improvements and accessories are collectively referred to as the Property A. LAND Lot Block Addition City of County of Texas known as address/zip code or as described on attached exhibit. B. IMPROVEMENTS The house garage and all other fixtures and improvements attached to the above-described real property including without limitation the following permanently installed and built-in items if any all equipment and...appliances valances screens shutters awnings wall-to-wall carpeting mirrors ceiling fans attic fans mail boxes television antennas mounts and brackets for televisions and speakers heating and air-conditioning units security and fire detection equipment wiring plumbing and lighting fixtures chandeliers water softener system kitchen equipment garage door openers cleaning equipment shrubbery landscaping outdoor cooking equipment and all other property attached to the above described real property....C. ACCESSORIES The following described related accessories if any window air conditioning units stove fireplace screens curtains and rods blinds window shades draperies and rods door keys mailbox keys above ground pool swimming pool equipment and maintenance accessories artificial fireplace logs security systems that are not fixtures and controls for i garage doors ii entry gates and iii other improvements and accessories. Controls includes Seller s transferable rights to the i software and...applications used to access and control improvements or accessories and ii hardware used solely to control improvements or D. EXCLUSIONS The following improvements and accessories will be retained by Seller and must be removed prior to delivery of possession. E* RESERVATIONS Any reservation for oil gas or other minerals water timber or other interests is made in accordance with an attached addendum* 3. SALES PRICE A. Cash portion of Sales Price payable by Buyer at closing. The term Cash portion...of the Sales Price does not include proceeds from borrowing of any kind or selling other real property except as disclosed in this contract. B. Sum of all financing described in the attached q Third Party Financing Addendum q Loan Assumption Addendum q Seller Financing Addendum. C. Sales Price Sum of A and B. 4. LEASES Except as disclosed in this contract Seller is not aware of any leases affecting the Property. After the Effective Date Seller may not without Buyer s written consent create a new...lease amend any existing lease or convey any interest in the Property.
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Understanding the TX TREC One to Form
What is the TX TREC One to Form?
The TX TREC One to Form is a standardized contract used in Texas for real estate transactions involving one to four family residential properties. This form is designed by the Texas Real Estate Commission (TREC) to facilitate smooth and lawful agreements between sellers and buyers. By clearly outlining the terms of the sale, the form helps to mitigate confusion and disputes.
Key Features of the TX TREC One to Form
This form includes various essential elements such as detailed property descriptions, terms of sale, and provisions for inspections and contingencies. It provides clarity on responsibilities related to repairs, occupancy, and the potential for negotiations. Each section is crafted to ensure all parties have a comprehensive understanding of their obligations.
When to Use the TX TREC One to Form
The TX TREC One to Form should be used when an agreement is being made for the purchase or sale of residential properties within the specified range of one to four units. It is applicable in both resale transactions and new construction homes. Utilizing this form aids in ensuring that all necessary legal requirements are met.
How to Fill the TX TREC One to Form
Filling out the TX TREC One to Form requires attention to detail. Users should start by entering the full legal names of all parties involved, followed by accurately describing the property and specifying the agreed-upon purchase price. It is essential to include any terms regarding financing, repairs, and timelines for closing to ensure a mutual understanding.
Best Practices for Accurate Completion
To ensure accuracy when completing the TX TREC One to Form, it is recommended to review the contract thoroughly for any overlooked details. Parties involved should also consider collaborating with a licensed real estate professional for guidance. Double-checking numerical values and specific dates can prevent potential misunderstandings during the transaction.
Common Errors to Avoid
Common pitfalls when completing the TX TREC One to Form include missing signatures, failing to specify contingencies, or using improper descriptions for the property. Such errors can lead to delays or issues during the transaction process. It is important to ensure that all blank fields are filled and any necessary attachments, like property disclosures, are included.
Security and Compliance for the TX TREC One to Form
Using the TX TREC One to Form requires compliance with local regulations and state laws applicable to real estate transactions. The form must be securely stored and handled to protect sensitive personal information. Utilizing a reputable platform for electronic document management can enhance the security of your agreements while ensuring compliance with legal standards.
Frequently Asked Questions about texas trec form pdf
What kind of properties does the TX TREC One to Form cover?
The TX TREC One to Form is specifically designed for one to four family residential properties, including single-family homes, townhouses, and duplexes.
Is the TX TREC One to Form required for all real estate transactions?
While it is highly recommended for transactions involving one to four family residential properties in Texas, it is not required for every type of transaction. Consulting with a real estate professional can clarify its necessity.
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People Also Ask about 1 family residential contract
What are the 6 TREC promulgated forms?
TREC Licensing Forms. Request a Fitness Determination. Real Estate. Easement or Right of Way. Inspectors. Apprentice Inspector. Real Estate Inspector. Professional Real Estate Inspector.
How many TREC promulgated contract forms are there?
There are six main sales contracts that TREC promulgates.
Does TREC promulgate forms?
TREC does not promulgate listing or buyer representation agreements, property management contracts, forms for commercial property, or residential leases (other than temporary residential leases used in connection with a sale). Contact your attorney or a real estate trade association for such forms.
What is paragraph 23 of the one to four family residential contract?
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.
How many TREC promulgated forms are there?
There are six main sales contracts that TREC promulgates.
What are the six promulgated contracts by TREC?
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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