This form is a Contract for the sale of real estate for use in Texas. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
Travis Texas Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding document used in the state of Texas for the sale and purchase of a residential property without involving a real estate broker. This agreement outlines the terms and conditions agreed upon by both the buyer and seller, ensuring a smooth and secure transaction. One type of Travis Texas Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is the "As-Is" agreement. This agreement is used when the seller does not provide any warranties or guarantees regarding the condition or repairs needed for the property. The buyer accepts the property in its current state, assuming all responsibility for any repairs or issues that may arise. Another type is the "Financed Purchase" agreement. This agreement is used when the buyer requires financing from a lender to complete the purchase of the property. It includes detailed clauses regarding the loan terms, interest rates, and any conditions imposed by the lender. Additionally, there is the "Cash Purchase" agreement, which is used when the buyer has enough funds to pay for the property in cash, without the need for financing. This type of agreement usually involves a quicker and more straightforward transaction process, as there is no involvement of a lender or mortgage. The Travis Texas Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement covers various essential aspects of the transaction, including: 1. Identification of the parties involved, including the buyer and seller's legal names and contact information. 2. Property details, including the address, legal description, and parcel identification number. 3. Purchase price and payment terms, specifying the amount to be paid and the agreed-upon method of payment (cash, financing, etc.). 4. Contingencies and inspections, outlining any conditions that must be met, such as satisfactory home inspections, appraisal results, or title search reports. 5. Closing date, indicating the deadline by which the transaction must be completed, and possession date, when the buyer will assume occupancy of the property. 6. Seller's disclosures, requiring the seller to provide information about the property's condition, any known defects, or other material facts. 7. Title transfer, stating that the seller holds clear and marketable title to the property and will provide the necessary documents for the transfer. 8. Default and remedies, outlining the actions that can be taken by either party in case of a breach of contract or failure to fulfill obligations. 9. Dispute resolution, specifying the process for resolving any disputes or claims that may arise during or after the transaction. 10. Signatures, acknowledging the agreement by both parties, often with the presence of a notary public. When using the Travis Texas Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement, it is crucial to consult with a real estate attorney to ensure compliance with state laws and to protect your interests throughout the transaction.
