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.
The Corpus Christi Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legally binding agreement used in real estate transactions within the Corpus Christi, Texas area. This contract outlines the terms and conditions for the purchase of a one to four-family residential property. The contract is flexible and caters to various modes of financing, including all-cash transactions, assumption of existing loans, third-party conventional financing, and seller financing options. This allows buyers and sellers to choose the most suitable financing method based on their individual circumstances and preferences. All Cash: For buyers with the necessary funds, an all-cash transaction offers the advantage of a faster and smoother closing process. This type of financing eliminates the need to secure a mortgage loan, providing the seller with assurance that the funds will be available for the purchase. Assumption: The contract also caters to buyers who wish to assume existing loans on the property. In such cases, the buyer takes over the seller's mortgage, becoming personally liable for the remaining balance and assuming the terms and conditions of the original loan. Third Party Conventional Financing: Buyers who prefer obtaining a mortgage loan from a financial institution of their choice can do so under the terms of the contract. This allows buyers to secure the necessary financing through a conventional loan, ensuring the property's purchase. Seller Financing: The contract permits sellers to offer financing directly to buyers, eliminating the need for third-party institutions. Seller financing can be advantageous for buyers who may not qualify for traditional loans or who prefer more flexible terms and conditions. This type of financing often involves a down payment, agreed-upon interest rate, and specific payment terms. The Corpus Christi Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is designed to accommodate different financing options, providing a comprehensive agreement for both buyers and sellers. This allows for greater flexibility and caters to the unique needs of each party involved in the real estate transaction.The Corpus Christi Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legally binding agreement used in real estate transactions within the Corpus Christi, Texas area. This contract outlines the terms and conditions for the purchase of a one to four-family residential property. The contract is flexible and caters to various modes of financing, including all-cash transactions, assumption of existing loans, third-party conventional financing, and seller financing options. This allows buyers and sellers to choose the most suitable financing method based on their individual circumstances and preferences. All Cash: For buyers with the necessary funds, an all-cash transaction offers the advantage of a faster and smoother closing process. This type of financing eliminates the need to secure a mortgage loan, providing the seller with assurance that the funds will be available for the purchase. Assumption: The contract also caters to buyers who wish to assume existing loans on the property. In such cases, the buyer takes over the seller's mortgage, becoming personally liable for the remaining balance and assuming the terms and conditions of the original loan. Third Party Conventional Financing: Buyers who prefer obtaining a mortgage loan from a financial institution of their choice can do so under the terms of the contract. This allows buyers to secure the necessary financing through a conventional loan, ensuring the property's purchase. Seller Financing: The contract permits sellers to offer financing directly to buyers, eliminating the need for third-party institutions. Seller financing can be advantageous for buyers who may not qualify for traditional loans or who prefer more flexible terms and conditions. This type of financing often involves a down payment, agreed-upon interest rate, and specific payment terms. The Corpus Christi Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is designed to accommodate different financing options, providing a comprehensive agreement for both buyers and sellers. This allows for greater flexibility and caters to the unique needs of each party involved in the real estate transaction.
