This is an amendment to a contract between the parties concerning property described in the amendment. The following topics are contained in the amendment: the sale price of the property, the option fee, required repairs, and acceptance of the property in its present condition.
Texas Notice To Prospective Buyer
State:
Texas
Control #:
TX-1081
Format:
Word;
Rich Text
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FAQ
A transaction broker provides a limited form of representation to a buyer, a seller, or both in a real estate transaction but does not represent either in a fiduciary capacity or as a single agent.
To the extent the owner ("seller" or "landlord") of a property has disclosed in writing material information regarding the condition of the property and the same is made available to the undersigned broker or its sales associates, you will be provided a copy of such information.
Paragraph 11 special provisions calls for: Insert only factual statements and business details to the sale. TREC prohibits licensee from adding factual statements for business detail where to contract addendum lease or other form has been promulgated by TREC for mandatory use.
If you want out of a real estate contract and don't have any contingencies available, you can breach the contract.The seller could also decide to sue you for breach of contract. Some real estate contracts have a liquidated damages clause that states the maximum the seller can keep if the buyers breach the contract.
Seller agrees to give Purchaser prompt notice of any fire or other casualty occurring at or to the Property between the date of this Agreement and the Closing Date, or of any actual or threatened condemnation of all or any part of the Land of which Seller has knowledge.
Basically when a prospective client meets or discusses specific things regarding a real estate property. This could mean exchanging information via email on a specific property or through a phone call or in person. What is the form? Commonly know as the IABS, this one page form must be given to the prospective client.
A transaction broker is defined as a broker who provides limited representation to a buyer, a seller or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent.
If the buyer is walking away for a valid reason under the contract, then they are entitled to their earnest money. During the option period, the buyer has the unrestricted right to withdraw for any reason whatsoever.
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND SELLERS THEIR DUTIES. Disclosing all known facts that materially affect the value of residential real property and are not readily observable.