Texas Land Contract Template. A Texas land contract establishes terms binding the parties in the sale of vacant land.The TREC unimproved property contract is one of the most important contract forms in Texas. But do you know when to use it? A Texas residential purchase agreement outlines the terms and conditions of an offer to purchase real estate. Gather essential details: Collect information about the property, buyer, seller, price, and terms. PARTIES: The parties to this contract are. (Seller) and. (Buyer). Fill Out the Basics.