In this contract, seller agrees to sell and to convey to buyer and the buyer agrees to purchase from seller certain property described in the contract. The contract also states that the monthly payments, interest rates and other terms of some loans may be adjusted by the lender at or after closing. The contract also contains a section entitled Broker Information and Ratification of Fee? which states that the listing broker will pay the other broker a certain percentage of the total sales price when the listing brokers fee is received.
Beaumont Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legal document outlining the terms and conditions for the sale of residential properties in Beaumont, Texas. This contract is specifically designed for the resale of one to four family residential properties and allows for different payment options, including all cash, assumption, third party conventional financing, or seller financing. The key features of this contract can be categorized into the different payment methods it caters to: 1. All Cash: This contract allows for a straightforward transaction where the buyer pays the entire purchase price in cash without the need for any financing from a third party. This option is suitable for buyers who have immediate access to the funds or choose not to involve a mortgage lender. 2. Assumption: In some cases, the buyer may choose to assume an existing mortgage or financing arrangement that is already in place on the property. This option allows the buyer to take over the seller's current loan terms and conditions, including interest rate and repayment schedule, without the need to secure new financing. 3. Third-Party Conventional Financing: This contract also accommodates buyers who prefer to secure financing through a third-party conventional lender. This typically involves the buyer obtaining a mortgage loan from a bank or financial institution to finance the purchase. The terms of the loan, such as interest rate, payment schedule, and down payment, will be agreed upon between the buyer and the lender. 4. Seller Financing: Another option available in this contract is seller financing, where the seller acts as the lender and provides financing directly to the buyer. In this scenario, the buyer makes regular payments to the seller instead of a traditional lender. The terms of seller financing, including interest rate, repayment schedule, and down payment, will be negotiated between the buyer and the seller. Overall, the Beaumont Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a versatile legal agreement that allows for various payment options, catering to the needs and preferences of both buyers and sellers involved in the sale of residential properties in Beaumont, Texas.Beaumont Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legal document outlining the terms and conditions for the sale of residential properties in Beaumont, Texas. This contract is specifically designed for the resale of one to four family residential properties and allows for different payment options, including all cash, assumption, third party conventional financing, or seller financing. The key features of this contract can be categorized into the different payment methods it caters to: 1. All Cash: This contract allows for a straightforward transaction where the buyer pays the entire purchase price in cash without the need for any financing from a third party. This option is suitable for buyers who have immediate access to the funds or choose not to involve a mortgage lender. 2. Assumption: In some cases, the buyer may choose to assume an existing mortgage or financing arrangement that is already in place on the property. This option allows the buyer to take over the seller's current loan terms and conditions, including interest rate and repayment schedule, without the need to secure new financing. 3. Third-Party Conventional Financing: This contract also accommodates buyers who prefer to secure financing through a third-party conventional lender. This typically involves the buyer obtaining a mortgage loan from a bank or financial institution to finance the purchase. The terms of the loan, such as interest rate, payment schedule, and down payment, will be agreed upon between the buyer and the lender. 4. Seller Financing: Another option available in this contract is seller financing, where the seller acts as the lender and provides financing directly to the buyer. In this scenario, the buyer makes regular payments to the seller instead of a traditional lender. The terms of seller financing, including interest rate, repayment schedule, and down payment, will be negotiated between the buyer and the seller. Overall, the Beaumont Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a versatile legal agreement that allows for various payment options, catering to the needs and preferences of both buyers and sellers involved in the sale of residential properties in Beaumont, Texas.
