Travis Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a legally binding agreement that outlines the terms and conditions of buying or selling a residential property in Travis County, Texas, without involving a real estate broker. This contract is primarily used when the seller is willing to finance the purchase or when the buyer intends to pay in all cash. The Travis Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential typically includes the following key elements: 1. Parties: The contract identifies the buyer and seller by their full legal names and addresses. It may also include additional information such as the buyer's financing ability or the seller's willingness to provide financing. 2. Description of Property: The contract provides a detailed description of the property being sold, including its legal description, address, and any additional improvements or fixtures included in the sale. 3. Purchase Price: This section specifies the agreed-upon purchase price for the property. If seller financing is involved, the contract may outline the terms of the financing, such as interest rate, repayment period, and down payment. 4. Earnest Money: The contract may include a provision for the buyer to provide earnest money as a deposit, demonstrating their sincerity and commitment to the transaction. The amount and handling of earnest money are usually subject to negotiation between the parties. 5. Closing Date and Location: The contract specifies the agreed-upon date and location for the closing, where all necessary paperwork and funds will be exchanged to complete the sale. 6. Contingencies: Common contingencies in the Travis Texas Contract include provisions for home inspections, appraisal, financing, and title search. These clauses protect the buyer and allow them to back out of the contract without penalty if the conditions are not met. 7. Disclosures: The contract may require the seller to disclose any known defects, hazards, or other issues affecting the property's value or safety. Buyers are encouraged to conduct their own due diligence. 8. Prorations and Expenses: This section covers the allocation of expenses between the buyer and seller, such as property taxes, insurance, and association fees, up to the closing date. There are typically no specific variations or types of the Travis Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential. However, the terms and conditions mentioned in the contract may vary depending on the negotiation between the buyer and seller, such as the terms of seller financing or the inclusion of additional contingencies. In summary, the Travis Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a comprehensive legal document that establishes the terms and conditions of a residential property sale without involving a real estate broker. It protects the interests of both parties and provides a framework for a smooth and successful transaction.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.