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 Pasadena Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a legally binding agreement used in real estate transactions involving residential properties in Pasadena, Texas. This contract specifically caters to homes that are being resold and financed through either FHA (Federal Housing Administration) insured or VA (Veterans Affairs) guaranteed loans. This contract is designed to protect the interests of both the buyer and the seller, outlining the terms and conditions that govern the sale. It gives a detailed description of the property, including its address, legal description, and any included fixtures or appliances. The contract also specifies the purchase price, earnest money deposit, and any additional costs or fees associated with the transaction. In addition to the basic terms of the sale, this contract highlights the specific provisions related to FHA insured or VA guaranteed financing. It addresses any required inspections, repairs, or appraisals that may be necessary to secure the loan. It also outlines the timeframes and procedures for loan approval and funding to ensure a smooth closing process. Different types or variations of the Pasadena Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing may exist depending on specific circumstances or amendments agreed upon by the parties involved. Some variations may include special provisions for properties with unique characteristics or additional clauses addressing specific contingencies such as repairs, termites, or environmental concerns. When utilizing this contract, it is crucial for both buyers and sellers to understand its contents fully and seek legal advice if needed. Adhering to the guidelines outlined in the contract ensures a successful and legally compliant transaction for all parties involved.The Pasadena Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing is a legally binding agreement used in real estate transactions involving residential properties in Pasadena, Texas. This contract specifically caters to homes that are being resold and financed through either FHA (Federal Housing Administration) insured or VA (Veterans Affairs) guaranteed loans. This contract is designed to protect the interests of both the buyer and the seller, outlining the terms and conditions that govern the sale. It gives a detailed description of the property, including its address, legal description, and any included fixtures or appliances. The contract also specifies the purchase price, earnest money deposit, and any additional costs or fees associated with the transaction. In addition to the basic terms of the sale, this contract highlights the specific provisions related to FHA insured or VA guaranteed financing. It addresses any required inspections, repairs, or appraisals that may be necessary to secure the loan. It also outlines the timeframes and procedures for loan approval and funding to ensure a smooth closing process. Different types or variations of the Pasadena Texas One to Four Family Residential Contract Realal— - FHA Insured or VA Guaranteed Financing may exist depending on specific circumstances or amendments agreed upon by the parties involved. Some variations may include special provisions for properties with unique characteristics or additional clauses addressing specific contingencies such as repairs, termites, or environmental concerns. When utilizing this contract, it is crucial for both buyers and sellers to understand its contents fully and seek legal advice if needed. Adhering to the guidelines outlined in the contract ensures a successful and legally compliant transaction for all parties involved.
