The Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a legal document used in real estate transactions that outlines the terms and conditions of the sale and purchase of residential property in Texas. This contract is specifically designed for transactions that do not involve a real estate broker and can be used for both seller financing or all-cash transactions. Keywords: Texas, Contract for Sale and Purchase, Real Estate, No Broker, Seller Financing, All Cash, Residential The contract includes various sections that provide detailed information about the transaction. These sections include: 1. Parties: This section identifies the buyer(s) and seller(s) involved in the transaction, along with their respective addresses. 2. Property Description: This section describes the residential property being sold, including its address, legal description, and any specific details pertaining to the property. 3. Purchase Price and Payment Terms: Here, the agreed-upon purchase price for the property is stated, along with the payment terms. If seller financing is being utilized, this section will outline the terms of the loan, including the interest rate, repayment period, and any other relevant details. 4. Title and Condition: This section addresses the title and condition of the property. It typically states that the property will be conveyed to the buyer with a clear and marketable title, free from any liens or encumbrances. It may also specify that the property is sold "as-is" or include any agreed-upon repair or inspection contingencies. 5. Closing and Possession: This section outlines the closing date, the location of the closing, and any specific instructions regarding possession of the property. It may include provisions for prorated property taxes and insurance. 6. Default and Remedies: This section explains the consequences of default by either party, including options for dispute resolution, damages, or cancellation of the contract. 7. Special Provisions: This section allows for any additional terms or conditions that are unique to the transaction to be included. Examples might include contingencies for the sale of the buyer's existing property or specific requirements for repairs or modifications to be made before closing. Different variations of this contract may exist depending on the specific terms and conditions of the transaction. For instance, there could be separate contracts for seller financing and all-cash transactions. However, the fundamental elements of the contract, such as property description, purchase price, payment terms, and closing details, would remain consistent. Overall, the Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a legally binding document that provides a comprehensive framework for the smooth and transparent sale and purchase of residential property without the involvement of a real estate broker, whether through seller financing or an all-cash transaction.
Texas Contract for the Sale and Purchase of Real Estate - No Broker - Seller Financing or All Cash - Residential
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