Description: The Bexar Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land is a legally binding document used in Bexar County, Texas, for the sale and purchase of residential lots or land without involving a real estate broker. This contract ensures transparency and clarity between the buyer and the seller, protecting both parties' rights and obligations. This contract covers various essential aspects of the real estate transaction, including property details, purchase price, payment terms, closing date, and contingencies. It also encompasses provisions for property inspections, title commitment, financing, and default remedies. The contract is designed to establish a fair and equitable agreement while following the laws and regulations of Texas. Different types of Bexar Texas Contracts for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land may include: 1. Standard Residential Lot or Land Contract: This is the most common type of contract used for the sale and purchase of residential lots or land in Bexar County, Texas, where there are no additional unique circumstances or conditions. 2. Custom Residential Lot or Land Contract: This type of contract is tailored to a specific situation where the buyer and seller have agreed upon certain unique conditions or specifications. It may involve special requirements such as additional contingencies, specific deadlines, or alternative payment structures. 3. Contingent Residential Lot or Land Contract: In this type of contract, the sale and purchase agreement is contingent upon certain events or conditions. For example, the buyer may require the land to pass specific inspections, obtain financing, or receive approval for zoning or development permits before completing the transaction. 4. All-Cash Residential Lot or Land Contract: This contract is used when the buyer intends to purchase the residential lot or land with cash, without involving any financing or mortgage. Typically, an all-cash contract offers a faster and smoother transaction process. Regardless of the type, it is crucial for both buyers and sellers to thoroughly review and understand the Bexar Texas Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land to ensure compliance with all legal requirements and protect their respective interests. Engaging a real estate attorney or professional is advisable to provide legal advice and guidance throughout the transaction process.
Bexar Texas Contract for the Sale and Purchase of Real Estate - No Broker - Residential Lot or Land
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FAQ
As a type of specialty home financing, a land contract is similar to a mortgage, but rather than borrowing money from a lender or bank to buy real estate, the buyer makes payments to the real estate owner, or seller, until the purchase price is paid in full.
Any purchase agreement should include at least the following information:The identity of the buyer and seller.A description of the property being purchased.The purchase price.The terms as to how and when payment is to be made.The terms as to how, when, and where the goods will be delivered to the purchaser.More items...
Generally speaking, the Statute of Frauds set out in Business & Commerce Code Section 26.01 and 26.02(b) requires a signed writing in order to have a valid contract for the conveyance of real property.
A Texas land contract establishes terms binding the parties in a sale of vacant land. The parties, a seller and a buyer, must utilize this contract to record the ownership transfer's binding terms, such as the agreed-upon price and applicable financial provisions.
Farm and Ranch Texas Sales Contract When you are looking to sell farm land or a ranch there is a specific form also provided by the State of Texas. This form is called the Farm and Ranch Contract.
M. The most commonly used residential sales contract in Texas is the One to Four Family Residential Contract (Resale) promulgated by the Texas Real Estate Commission as form number 20-13.
A land contract or contract for deed is a real estate contract purchase whereby the seller retains the title or deed of the property until the purchaser can finish making installments of the agreed-upon asking price.
Contracts for deed and leases combined with an option to purchase residential property are strictly regulated in Texas by Subchapter D of Chapter 5 of the Texas Property Code (hereinafter Subchapter D).
Yes. The contract forms are available for public use. A TREC contract form, however, is intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use.
Writing a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...