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 Lewisville Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legally binding contract used in the real estate industry for the sale/purchase of residential properties in Lewisville, Texas. This contract encompasses various types of payment methods and financing options to cater to different buyer and seller preferences. Keywords: Lewisville Texas, one to four family residential contract, resale, all cash, assumption, third party conventional financing, seller financing. 1. All Cash: The first type of payment method covered by this contract is the "all cash" option. This means that the buyer intends to purchase the property using their own funds without any external financing assistance from a bank or other financial institution. This type of payment method is often favored by investors or buyers who have accumulated significant savings. 2. Assumption: The Lewisville Texas One to Four Family Residential Contract also includes the option for assumption. Assumption refers to the buyer taking over the existing mortgage on the property from the seller. In this case, the buyer essentially agrees to assume responsibility for the outstanding balance and continue making the mortgage payments as agreed upon. 3. Third Party Conventional Financing: This contract also allows for third party conventional financing. This type of financing involves the buyer seeking a mortgage loan from a bank or financial institution. The buyer's ability to secure financing will generally depend on their creditworthiness and meeting the lender's criteria for a conventional mortgage. 4. Seller Financing: Lastly, the Lewisville Texas One to Four Family Residential Contract offers the option of seller financing. Seller financing, also known as owner financing or seller carry back financing, involves the seller acting as the lender and providing financing directly to the buyer. This option is particularly beneficial for buyers who may face challenges in securing traditional bank financing. It's essential for both buyers and sellers to review and understand the terms and conditions outlined in the Lewisville Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing thoroughly. The contract covers details such as purchase price, property description, closing date, and terms specific to each financing method.The Lewisville Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing is a legally binding contract used in the real estate industry for the sale/purchase of residential properties in Lewisville, Texas. This contract encompasses various types of payment methods and financing options to cater to different buyer and seller preferences. Keywords: Lewisville Texas, one to four family residential contract, resale, all cash, assumption, third party conventional financing, seller financing. 1. All Cash: The first type of payment method covered by this contract is the "all cash" option. This means that the buyer intends to purchase the property using their own funds without any external financing assistance from a bank or other financial institution. This type of payment method is often favored by investors or buyers who have accumulated significant savings. 2. Assumption: The Lewisville Texas One to Four Family Residential Contract also includes the option for assumption. Assumption refers to the buyer taking over the existing mortgage on the property from the seller. In this case, the buyer essentially agrees to assume responsibility for the outstanding balance and continue making the mortgage payments as agreed upon. 3. Third Party Conventional Financing: This contract also allows for third party conventional financing. This type of financing involves the buyer seeking a mortgage loan from a bank or financial institution. The buyer's ability to secure financing will generally depend on their creditworthiness and meeting the lender's criteria for a conventional mortgage. 4. Seller Financing: Lastly, the Lewisville Texas One to Four Family Residential Contract offers the option of seller financing. Seller financing, also known as owner financing or seller carry back financing, involves the seller acting as the lender and providing financing directly to the buyer. This option is particularly beneficial for buyers who may face challenges in securing traditional bank financing. It's essential for both buyers and sellers to review and understand the terms and conditions outlined in the Lewisville Texas One to Four Family Residential Contract Realal— - All Cash, Assumption, Third Party Conventional or Seller Financing thoroughly. The contract covers details such as purchase price, property description, closing date, and terms specific to each financing method.
