Seller agrees to sell and convey to buyer certain property described within the contract. The buyer is responsible for depositing earnest money with an escrow agent upon the execution of the contract by both parties. If the buyer fails to deposit the earnest money as required by the contract, the buyer will be in default. The broker advises the buyer to have an abstract of title covering the property examined by an attorney of the buyers selection, or the buyer should be furnished with or obtain a title policy.
The Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a legal document used in real estate transactions. It governs the sale of residential properties in Brownsville, Texas, where the buyer is securing financing through either FHA (Federal Housing Administration) insured or VA (Veterans Administration) guaranteed loans. This contract outlines the rights and responsibilities of both the buyer and seller, ensuring a fair and transparent transaction. It covers various aspects of the sale, including the terms of the financing, purchase price, closing costs, inspection contingencies, and other relevant details. There may be different versions or variations of this contract based on specific requirements or preferences. These could include: 1. Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured Financing: This specific version of the contract focuses on properties where the buyer is obtaining financing through an FHA-insured loan. It adheres to the guidelines set by the FHA and incorporates specific clauses related to this type of financing. 2. Brownsville Texas One to Four Family Residential Contract Realal— - VA Guaranteed Financing: This version of the contract is designed for transactions where the buyer is securing financing through a VA-guaranteed loan. It takes into account the unique aspects of VA loans and includes clauses that cater to the requirements and benefits associated with this type of financing. The Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing aims to protect the interests of both buyers and sellers involved in real estate transactions. It ensures that all parties are aware of their obligations, rights, and liabilities throughout the process. By utilizing this contract, buyers seeking FHA insured or VA guaranteed financing can feel confident that their rights are protected and that they are entering into a secure and compliant transaction in the Brownsville area.The Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a legal document used in real estate transactions. It governs the sale of residential properties in Brownsville, Texas, where the buyer is securing financing through either FHA (Federal Housing Administration) insured or VA (Veterans Administration) guaranteed loans. This contract outlines the rights and responsibilities of both the buyer and seller, ensuring a fair and transparent transaction. It covers various aspects of the sale, including the terms of the financing, purchase price, closing costs, inspection contingencies, and other relevant details. There may be different versions or variations of this contract based on specific requirements or preferences. These could include: 1. Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured Financing: This specific version of the contract focuses on properties where the buyer is obtaining financing through an FHA-insured loan. It adheres to the guidelines set by the FHA and incorporates specific clauses related to this type of financing. 2. Brownsville Texas One to Four Family Residential Contract Realal— - VA Guaranteed Financing: This version of the contract is designed for transactions where the buyer is securing financing through a VA-guaranteed loan. It takes into account the unique aspects of VA loans and includes clauses that cater to the requirements and benefits associated with this type of financing. The Brownsville Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing aims to protect the interests of both buyers and sellers involved in real estate transactions. It ensures that all parties are aware of their obligations, rights, and liabilities throughout the process. By utilizing this contract, buyers seeking FHA insured or VA guaranteed financing can feel confident that their rights are protected and that they are entering into a secure and compliant transaction in the Brownsville area.
