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.
Mesquite Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a legal document that outlines the terms and conditions for the sale of a residential property in Mesquite, Texas. This contract is specifically designed for properties that are being sold with financing through either the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). The Mesquite Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a comprehensive agreement that protects both the buyer and the seller throughout the transaction process. It covers various aspects of the sale, including the purchase price, financing details, closing costs, and contingency periods. There are different types of Mesquite Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing available, depending on the specific circumstances of the transaction. These may include: 1. Standard Contract — This is the most commonly used contract that covers the sale of a residential property with FHA or VA financing. It includes all the necessary provisions and clauses to ensure a smooth transaction while complying with the FHA or VA guidelines. 2. Addendum or Amendment Contract — In some cases, additional terms and conditions may need to be added to the standard contract. This addendum or amendment contract is used to include any specific requirements or modifications agreed upon by both parties. 3. Special Provisions Contract — This type of contract is used when there are unique circumstances or specific conditions involved in the sale. It allows for the inclusion of specific provisions that deviate from the standard contract to accommodate these special circumstances. When using the Mesquite Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing, it is essential to ensure that all relevant details are accurately documented. This includes the property address, loan terms, down payment amount, and any additional provisions agreed upon by both parties. By using this contract, buyers and sellers can have confidence that their transaction is being conducted in accordance with the regulations set forth by the FHA or VA. It provides a clear and transparent framework for the sale of residential properties in Mesquite, Texas, using FHA insured or VA guaranteed financing, protecting the interests of all parties involved.
