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 Edinburg Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legal agreement used in real estate transactions in Edinburg, Texas. This contract outlines the terms and conditions for the sale of a one to four-family residential property, including the type of financing involved. There are various types of financing options covered by this contract, including: 1. All Cash: This type of financing involves the buyer paying the entire purchase price upfront without the need for a mortgage or loan. It eliminates the need for a lender and provides a quick and straightforward transaction. 2. Assumption: In an assumption, the buyer takes over the existing mortgage of the seller. The buyer agrees to make the remaining payments and assumes responsibility for the loan. This allows the buyer to avoid the need for new financing and can be beneficial if the existing mortgage has favorable terms. 3. Third Party Conventional Financing: This type of financing involves obtaining a conventional loan from a third-party lender, such as a bank or mortgage company. The buyer applies for a mortgage and agrees to the lender's terms and conditions, including interest rate, repayment period, and any associated fees. 4. Seller Financing: Seller financing occurs when the seller provides financing for the purchase of the property instead of or in addition to a traditional lender. The seller acts as the lender, and the buyer makes payments directly to them over an agreed-upon period. This arrangement can be beneficial for buyers who may not qualify for traditional financing or prefer more flexible terms. The Edinburg Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing covers essential aspects of the transaction, including the purchase price, earnest money deposit, closing date, title commitments, inspection period, proration of taxes, and any contingencies or special provisions. This detailed contract helps protect both buyers and sellers by providing a clear and comprehensive framework for the sale of a residential property in Edinburg, Texas.The Edinburg Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legal agreement used in real estate transactions in Edinburg, Texas. This contract outlines the terms and conditions for the sale of a one to four-family residential property, including the type of financing involved. There are various types of financing options covered by this contract, including: 1. All Cash: This type of financing involves the buyer paying the entire purchase price upfront without the need for a mortgage or loan. It eliminates the need for a lender and provides a quick and straightforward transaction. 2. Assumption: In an assumption, the buyer takes over the existing mortgage of the seller. The buyer agrees to make the remaining payments and assumes responsibility for the loan. This allows the buyer to avoid the need for new financing and can be beneficial if the existing mortgage has favorable terms. 3. Third Party Conventional Financing: This type of financing involves obtaining a conventional loan from a third-party lender, such as a bank or mortgage company. The buyer applies for a mortgage and agrees to the lender's terms and conditions, including interest rate, repayment period, and any associated fees. 4. Seller Financing: Seller financing occurs when the seller provides financing for the purchase of the property instead of or in addition to a traditional lender. The seller acts as the lender, and the buyer makes payments directly to them over an agreed-upon period. This arrangement can be beneficial for buyers who may not qualify for traditional financing or prefer more flexible terms. The Edinburg Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing covers essential aspects of the transaction, including the purchase price, earnest money deposit, closing date, title commitments, inspection period, proration of taxes, and any contingencies or special provisions. This detailed contract helps protect both buyers and sellers by providing a clear and comprehensive framework for the sale of a residential property in Edinburg, Texas.
