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Real Estate Sale and Purchase Agreement - Contract Of Sale
Texas
NOTICE: DUE TO THE SUBSTANTIAL FINANCIAL RISKS AND LEGAL CONSEQUENCES INVOLVED IN ANY REAL ESTATE
TRANSACTION, BOTH/ALL PARTIES ARE ADVISED TO SEEK LEGAL AND TAX COUNSEL.
TIME IS OF THE ESSENCE - Time is of the essence of this Sale and Purchase Agreement.
DATE OF OFFER: ______________________________________________
Seller: ___________________________________, whose address is ___________________________________________________
Buyer: ___________________________________, whose address is ___________________________________________________
Seller and Buyer hereby agree that the Seller shall sell and the Buyer shall buy the following described property UPON THE TERMS AND
CONDITIONS HEREINAFTER SET FORTH, which shall include the STANDARDS FOR REAL ESTATE TRANSACTIONS set forth within
this contract.
DATE OF ACCEPTANCE (EFFECTIVE DATE): The effective date shall be the day on which the last party signed or initialed acceptance of
the final offer.
NOTICES: All notices herein required shall be in writing and shall be served upon the parties at the addresses shown above. Any offer,
acceptance or notice made by registered or certified mail, return receipt requested, hand-delivered, or transmitted by facsimile shall be
sufficient service.
PROPERTY LOCATION: Seller does sell to Buyer and Buyer does purchase from Seller, all of the following described real estate and or
property (hereinafter "Property") known as and / or located at ________________________________________________________, in the
City of _____________________________, County of ___________________________, State of Texas together with the improvements
thereon, and all rights and appurtenances thereto belonging.
LEGAL PROPERTY DESCRIPTION:
APN:
County:
Zip:
Legal Book/Page:
Block No.:
Municipality:
City:
State:
Mailing Currier Route:
Legal Lot:
Subdivision:
CONVEYANCE: The Property is being conveyed:
[
] In fee simple.
[ ] Subject to an annual ground rent, now existing or to be created, in the amount of __________________________________________
Dollars ($ _______________________) payable semi-annually, as now or to be recorded among the Land Records of
________________________________________________ City/County, State of Texas. If the Property is subject to ground rent and the
ground rent is not timely paid, the owner of the reversionary interest (i.e., the person to whom the ground rent is payable) may bring an
action of ejectment against the leasehold owner pursuant to any applicable Texas laws, statutes or codes. As a result of this action, the
owner of the reversionary interest may obtain title to the Property in fee, discharged from the lease.
PURCHASE PRICE: The purchase price is ___________________________________________ Dollars ($ _______________________).
PAYMENT TERMS: Buyer shall make the payment of the purchase price as follows:
AMOUNT
Purchase Price
1
AMOUNT
$__________________
Initial Deposit / Earnest Money
$__________________
Additional Deposit
$__________________
New Loan
$__________________
Seller: _______ Seller: _______
Buyer _______ Buyer _______
Assumption of Existing Loan
$__________________
Seller Financing
$__________________
Cash at Closing
$__________________
TOTAL (Both columns should equal)
$__________________
$__________________
DEPOSIT / EARNEST MONEY: Upon execution of this Contract by both parties, Buyer shall deposit $_________________ as earnest
money with _____________________________________ (the “Escrow Agent”), for the mutual benefit of the parties. Buyer shall deposit
$_________________ as additional earnest money with the Escrow Agent within _______ days after the Date of Acceptance of this
Contract. If Buyer fails to deposit the earnest money as required by this Contract, Buyer will be in default. Escrow Agent shall not disburse
the earnest money until Buyer's check has cleared Buyer's bank, and, after Date of Acceptance, until Closing or until the parties hereto have
otherwise agreed in writing regarding disbursement of such funds.
PERMANENTLY ATTACHED FIXTURES: Included in the purchase price are all permanently attached fixtures, including all smoke
detectors.
DEPOSIT: Buyer hereby authorizes and directs the Escrow Officer or institution specified in the paragraph entitled PAYMENT TERMS to
hold the initial deposit instrument without negotiation or deposit until the parties have executed and accepted this Contract. Upon
acceptance, the initial deposit shall be expeditiously placed in escrow as provided below. If Seller does not execute and accept this
Contract, the initial deposit instrument shall be promptly returned to the Buyer. At closing, the Escrow Officer shall disburse the deposit. In
the event this Contract shall be terminated or closing does not occur. Buyer and Seller agree that the deposit shall be disbursed by Escrow
Officer only in accordance with a release of deposit agreement executed by both Buyer and Seller.
PRORATIONS AND ADJUSTMENTS: Taxes, insurance, interest, homeowner's association fees, rents, including water rent and ground rent
and other expenses and revenue of said property shall be prorated as of the day of closing. All taxes, general or special, and all other public
or governmental charges or assessments against the Property which are or may be payable on a periodic basis, including sanitation or other
benefit charges, assessments, liens or encumbrances for sewer, water, drainage, paving, or other public improvements completed or
commenced on or prior to the date hereof, or subsequent thereto, are to be adjusted and apportioned as of the date of closing and are to be
assumed and paid thereafter by Buyer, whether assessments have been levied or not as of date of closing if applicable by local law. Any
heating or cooking fuels remaining in supply tank(s) at time of closing shall become the property of the Buyer.
CLOSING / SETTLEMENT: This Contract shall be settled / closed and the deed shall be delivered on or before the _____ day of
__________________, 20_____, unless extended by other provisions of this Contract (“Closing”). Closing shall be held at the office of
_________________ (e.g., Seller’s attorney, Buyer’s lender, the Escrow Agent, title insurance office or as otherwise agreed upon). Any
extension of Closing shall be agreed to by the parties in writing. In this Contract, the terms “Settlement” and “Closing” shall be deemed
identical in meaning and used interchangeably and the same shall apply to “settlement” and “closing”.
The fee for Closing shall be paid by: (initial appropriate option)
_____
Buyer;
or
_____
Seller:
or
_____
shared equally.
CLOSING COSTS: Except where otherwise agreed to in this Contract, Buyer agrees to pay all closing costs and charges including, but not
limited to, all Lender’s fees in connection herewith, including title examination and title insurance fees, notary fees, all document preparation
and recording fees, survey fees where required, and all recording charges, except those incident to clearing existing encumbrances or title
defects. If Buyer is obtaining FHA financing or if Buyer is a Veteran obtaining VA financing, those costs and charges prohibited to be paid
by a Buyer obtaining FHA financing or a Veteran obtaining VA financing shall be paid by Seller.
TRANSFER AND RECORDING CHARGES: Unless otherwise provided by an addendum to this Contract, the costs of state and local
transfer and recordation taxes (other than agricultural land transfer taxes, if any) shall be shared equally by Buyer and Seller.
RESTRICTIONS, EASEMENTS, LIMITATIONS: Buyer shall take title subject to: (a) Zoning, restrictions, prohibitions and requirements
imposed by governmental authority, (b) Restrictions and matters appearing on the plat or common to the subdivision, (c) Public utility
easements of record. Seller warrants that there shall be no violations of building or zoning codes at the time of closing.
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Seller: _______ Seller: _______
Buyer _______ Buyer _______
FINANCING: This Contract is contingent upon buyer obtaining a written commitment for a loan secured by the Property as follows: (check)
[ ] Conventional Loan Assumption Addendum
[ ] Conventional Loan as follows:

Loan Amount $ ________________________

Term of Note __________________________ Years

Interest Rate __________________________ %

Amortization ___________________________Years

Loan Program _____________________________
[
[
[
[
[
[
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
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]
]
]
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No Financing Contingency
Gift of Funds Addendum
Attached VA Financing Addendum
Attached FHA Financing Addendum
Attached Assumption Addendum
Owner Financing as follows:
Loan Amount $ ________________________
Term of Note __________________________ Years
Interest Rate __________________________ %
Amortization ___________________________Years
NOTICE TO BUYER: The monthly payments, interest rates or other terms of some loans may be adjusted by the lender at or after
closing. If you are concerned about the possibility of future adjustments, do not sign the contract without examining the notes and
deeds of trust.
NOTICE TO SELLER: Your liability to pay the note assumed by Buyer will continue unless you obtain a release of liability from the
lender. If you are concerned about future liability, you should obtain a release of liability from the lender.
CONVENTIONAL LOAN LENDER FEES/CHARGES: Buyer agrees to pay to the Lender loan origination/loan discount fees of __________%
of the loan amount and Seller agrees to pay loan origination/loan discount fees of __________ % of the loan amount. Buyer shall pay all loan
insurance premiums required by Lender.
REDUCTION OF LOAN LENDER FEES/CHARGES: Buyer shall receive the benefit of any reduction in loan origination/loan discount fees
as specified herein.
FEES FOR TRANSFER OF EXISTING LOAN: In the event an existing loan is to be transferred to/assumed by Buyer, Buyer agrees to pay
all fees and charges required by Lender.
FINANCING CONTINGENCY - APPLICATION AND COMMITMENT:
_____
Buyer agrees to make written application for the financing as herein described within
______________________ (_____) days from the date of Contract acceptance. If such written financing
commitment is not obtained by Buyer within ______________________ (_____) days from the date of
Contract acceptance and Buyer provides written notice of such to Seller within that time, this Contract of
Sale shall be null and void and of no further legal effect, and all deposits hereunder shall be disbursed in
accordance with the terms of this Contract; provided that Seller may, within ______________________
(_____) days following Buyer's written notice, obtain such a commitment for Buyer or notify Buyer that
Seller will accept a purchase money mortgage upon the same terms, whereupon this Contract shall
remain in full force and effect. If Buyer does not serve written notice within the time specified herein, Buyer
shall be deemed to have waived this contingency and this Contract shall remain in full force and effect. If a
written financing commitment is not obtained, Seller will not accept a purchase money mortgage and
Buyer has complied with all of Buyer’s obligations under this Contract, including those with respect to
applying for financing and seeking to obtain financing, then the release of deposit agreement shall provide
that all monies on deposit shall be returned to Buyer.
or
_____
This Contract is not contingent upon Buyer obtaining any kind of mortgage commitment, and Buyer hereby
notifies Seller that Buyer possesses sufficient cash or liquid assets to close on the purchase of the
Property.
ALTERNATE FINANCING: If Buyer obtains a written commitment for financing in which the amount of loan, terms of payment, interest or
any one of these differs from the financing conditions herein, the preceding financing conditions of the Contract shall be deemed to have
been fully satisfied. This alternate financing may not increase costs to Seller or exceed the time allowed to secure the financing commitment
as stated herein. Nothing in this paragraph shall relieve Buyer of the obligation to apply for and diligently pursue the financing described in
the paragraphs entitled FINANCING and FINANCING APPLICATION AND COMMITMENT.
APPRAISAL CONTINGENCY: (Initial appropriate option)
______
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This Contract is contingent upon Buyer obtaining an appraisal of the Property. Buyer shall, at Buyer’s
expense, engage an appraiser to establish the Property’s appraised value and obtain the Property’s appraised
value within _______ calendar days after the Date of Acceptance (the “Appraisal Deadline”), which shall be a
minimum of fourteen (14) days. After obtaining the Property’s appraised value, Buyer shall provide notice to
Seller: _______ Seller: _______
Buyer _______ Buyer _______
Seller by the Appraisal Deadline which shall provide one of the following:
(a) The Purchase Price is equal to or less than the Property’s appraised value. This contingency has been
satisfied and removed. The parties shall proceed to Closing; or
(b) Buyer elects to proceed with the consummation of this Contract without regard to the Property’s appraised
value and the parties shall proceed to Closing; or
(c) The Purchase Price exceeds the Property’s appraised value and Buyer elects not to proceed to Closing,
unless Seller reduces the Purchase Price to an amount equal to the Property’s appraised value. After receipt
of such notice from Buyer, Seller may, at Seller’s discretion, elect to reduce the Purchase Price to an amount
equal the Property’s appraised value, in which case Seller and Buyer shall immediately amend this Contract,
make necessary changes and proceed to Closing. If Seller elects not to reduce the Purchase Price, Seller
shall notify the same to Buyer, in which case the parties may agree upon mutually agreeable terms. In either
case, the Seller shall make the appropriate election by notifying Buyer within three (3) days of receipt of
Buyer’s notice. If the parties fail to reach such mutual agreement, this Contract shall terminate and all earnest
money shall be refunded to Buyer.
This contingency will continue even if Buyer fails to send the required notice to Seller by the Appraisal
Deadline, unless Seller, at Seller’s option, notifies Buyer that this Contract will become void. If Seller so
rd
notifies Buyer, this Contract shall become void on the third (3 ) day after such notification, unless prior to such
date and time, Buyer delivers the required notice to Seller.
or
______
This Contract is not contingent upon Buyer obtaining an appraisal of the Property.
SALE OR LEASE OF OTHER REAL ESTATE: Buyer shall not apply for or accept a financing loan commitment which is contingent upon or
requires as a precondition to funding that any other real estate be sold, settled and/or leased, unless this Contract is expressly contingent
upon the sale, closing and/or lease of any other real estate. Neither this Contract nor the granting of Buyer’s loan referred to herein is to be
conditioned or contingent in any manner upon the sale, closing and/or lease of any other real estate unless a contingency for the sale,
closing and/or lease of other real estate is contained in an addendum to this Contract.
OWNER FINANCING - NOTICE TO BUYER: BUYER HAS THE RIGHT TO SELECT BUYER’S OWN TITLE INSURANCE COMPANY,
SETTLEMENT COMPANY, TITLE LAWYER, ESCROW COMPANY, FINANCIAL INSTITUTION OR MORTGAGE LENDER AS DEFINED
IN APPLICABLE STATE LAW, STATUTE OR CODE. BUYER ACKNOWLEDGES THAT SELLER MAY NOT BE PROHIBITED FROM
OFFERING OWNER FINANCING AS A CONDITION OF SETTLEMENT.
BUYER'S DUTIES AND RESPONSIBILITIES: Buyer understands and agrees that Buyer shall be in default and Seller may elect by written
notice to Buyer, to terminate this Contract and/or pursue the remedies set forth under the paragraph entitled DEFAULT if:
(a) Buyer makes any misrepresentations in any document relating to financing, or
(b) If this Contract is contingent upon Buyer securing a written commitment for financing and Buyer fails to apply for such financing within
the specified time herein, or
(c) If Buyer has misrepresented Buyer’s financial ability to consummate the purchase of the Property, or
(d) If Buyer fails to pursue financing diligently and in good faith, or
(e) If Buyer takes or fails to take any action which causes Buyer’s disqualification for financing.
SELLER'S DUTIES AND RESPONSIBILITIES: At the date of closing of this Contract, Seller agrees to have complied with all violation
notices or requirements issued or noted by any governmental authority, or actions in any court on account thereof, against or affecting the
Property and convey the Property free thereof. Seller agrees to keep existing mortgages free of default until closing.
CONDITION OF PROPERTY AND POSSESSION: At the time of closing, Seller shall deliver possession of the Property and shall deliver the
Property broom clean and in substantially the same condition as existed on the date of Contract Acceptance. Seller shall deliver the
property vacant and clear of trash and debris. Seller shall deliver all mechanical systems included in this Contract, including all electrical,
heating, air conditioning (if any), plumbing (including well and septic) and related equipment, appliances and smoke detector(s) in working
condition. Buyer reserves the right to inspect the Property within five (5) days prior to closing. EXCEPT AS OTHERWISE SPECIFIED IN
THIS CONTRACT, INCLUDING THIS PARAGRAPH, THE PROPERTY IS SOLD "AS IS".
WALKTHROUGH: Within _______ hours before Closing, Buyer or Buyer’s Agent shall have the right to inspect the Property to verify that the
same is in substantially the same condition in which it existed on the Date of Acceptance of this Contract, ordinary wear and tear excepted,
and that any corrections or repairs agreed to by Seller have been completed.
WARRANTIES TRANSFER: At Closing, Seller shall transfer to Buyer any interest Seller may have in any manufacturer’s warranties, service
contracts, and other guarantees and/or warranties which are transferable to Buyer. Fees for such transfer, if any, shall be borne by Buyer.
DEFAULT: Buyer and Seller are required and agree to make full closing in accordance with the terms of this Contract and acknowledge that
failure to do so constitutes a breach hereof. If Buyer fails to make full closing or if Buyer is in default due to Buyer's failure to perform or
comply with the covenants, conditions or terms of this contract, the deposit may be retained by or for the account of Seller as long as a
release of deposit agreement is signed and executed by all parties, expressing that said deposit may be retained by Seller. In the event that
the parties do not agree to execute a release of deposit, Buyer and Seller shall have all legal and equitable remedies. If Seller fails to make
full closing or if Seller is in default due to Seller's failure to perform or comply with the covenants, conditions or terms of this contract, Buyer
shall be entitled to pursue such rights and remedies as may be available, at law or in equity, including, without limitation, an action for
4
Seller: _______ Seller: _______
Buyer _______ Buyer _______
specific performance of this Contract and/or monetary damages. In the event of any litigation or dispute between Seller and Buyer
concerning the release of the deposit, Escrow Officer may pay the deposit into the court in which such litigation is pending or pay the deposit
into the court of proper jurisdiction by an action of interpleader and Escrow Officer, having so paid the deposit to the court, shall have met
his sole responsibility. Upon Escrow Officer's payment of the deposit into court, Buyer and Seller agree that, neither Buyer nor Seller shall
have any further right, demand, claim or action against Escrow Officer regarding the release of the deposit and Buyer and Seller, jointly and
severally, shall indemnify and hold the Escrow Officer harmless from any and all such rights, demands, claims or actions. In the event of
such dispute and election by the Escrow Officer to file an action of interpleader as herein provided, Buyer and Seller further agree and
hereby expressly and irrevocably authorize the Escrow Officer to deduct from the deposit all costs incurred by the Escrow Officer in the filing
and maintenance of such action of interpleader including but not limited to court costs, service of process fees, filing fees and attorneys’
fees, provided that the amount deducted shall not exceed the lesser of $500 or the amount of the deposit held by the Escrow Officer.
Escrow Officer may deduct all such fees and costs authorized herein from the deposit prior to paying the balance of the deposit to the court.
Buyer and Seller further agree and expressly declare that all such fees and costs so deducted shall be the exclusive property of the Escrow
Officer. If the Escrow Officer deducts an amount less than the total of all of the costs incurred by the Escrow Officer in maintaining and filing
the interpleader action, then Seller and Buyer jointly, and severally, agree to reimburse the Escrow Officer for all such excess costs upon the
conclusion of the interpleader action.
INCLUSIONS/EXCLUSIONS: Certain existing items, which may be considered personal property, whether installed or stored upon the
property, are included or excluded, as follows (if no box is checked, item shall be considered excluded):
Included
Yes
[ ] Refrigerator(s) #_____
[ ] Stove or Range
[ ] Trash Compactor
[ ] Microwave Oven
[ ] Garbage Disposal
[ ] Freezer
[ ] Dishwasher
[ ] Cook top
[ ] Ceiling Fan(s) #____
Included
Yes
[ ] Sprinkler System
[ ] Window Fan(s) #_____
[ ] Storm Windows
[ ] Storm Doors
[ ] Clothes Washer
[ ] Clothes Dryer
[ ] Intercom
[ ] Satellite Dish
[ ] Pool, cover & equipment
[ ] Wall Oven(s) #____
[ ] Safe #_____
[ ] Hot Tub, cover & equip.
[ ] Alarm System
Included
Yes
[ ] Water Filter
[ ] Water Softener
[ ] Screens
[ ] Window A/C unit(s) #____
[ ] W/W carpeting (existing)
[ ] Exhaust Fan(s)
[ ] Furnace Humidifier
[ ] Electronic Air Filter
[ ] Outdoor Playground
Equip.
[ ] Central Vacuum
Included
Yes
[ ] Storage Shed
[ ] Lawn Mower
[ ] Garage Opener
[ ] Dog House(s) #_____
[ ] TV antenna
[ ] Drapery/Curtains
[ ] Blinds/Shades
[ ] Entertain Cntr Cabinet
[ ] Fireplace Screen/Doors
ADDITIONAL INCLUSIONS (SPECIFY): _________________________________________________________________________
ADDITIONAL EXCLUSIONS (SPECIFY): _________________________________________________________________________
PROPERTY INSURANCE AND RISK OF LOSS: Until legal title has passed to Buyer or possession has been given to Buyer, the Property is
to be held at the risk of Seller. If, prior to the time legal title has passed to Buyer or possession has been given to Buyer, whichever shall
occur first, all or a substantial part of the Property is destroyed or damaged, without fault of Buyer, then this Contract, at the option of Buyer,
upon written notice to Seller, shall be null and void and of no further effect, and all deposits hereunder shall be returned to Buyer in
accordance with the terms of this Contract.
LEASES: Seller, not less than 15 days before closing, shall furnish to Buyer copies of all written leases and estoppel letters from each
tenant specifying the nature and duration of the tenant's occupancy, rental rates and advanced rent and security deposits paid by tenant. If
Seller is unable to obtain such letters from tenants, Seller shall furnish the same information to Buyer within said time period in the form of a
seller's affidavit, and Buyer may contact tenants thereafter to confirm such information. At closing, Seller shall deliver and assign all original
leases to Buyer and all rental collections shall be prorated. In addition, Seller shall transfer all security deposits, if any, to Buyer. Seller may
not negotiate new leases or renew existing leases on the Property which extend beyond closing or possession date without Buyer’s written
consent.
NON-ASSIGNABLE: This Contract may not be assigned without the effective written consent of the Buyer and the Seller. If the Buyer and
the Seller agree in writing to an assignment of this Contract, the original parties to this Contract remain obligated hereunder until closing.
TITLE POLICY: Seller agrees to furnish to Buyer at (initial appropriate option)
a. ______
Seller’s expense; a title insurance policy issued in the amount of the Sales Price, dated at or after closing,
insuring Buyer against loss under the provisions of the Title Policy.
or
b. ______
Buyer’s expense; a title insurance policy issued in the amount of the Sales Price, dated at or after closing,
insuring Buyer against loss under the provisions of the Title Policy.
The title insurance policy will be subject to all exclusions, including existing building and zoning ordinances, and the
following exceptions:
5
Seller: _______ Seller: _______
Buyer _______ Buyer _______

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
Restrictive covenants common to platted subdivision in which the Property is located.
Standard exception for standby fees, taxes and assessments.
Liens created as part of financing.
Utility easements created by the dedication deed or plat of the subdivision in which the Property is located.
Reservations or exceptions otherwise permitted by this Contract or as may be approved by Buyer in writing.
Standard exception as to marital rights.
Standard exception as to waters, tidelands, beaches, streams, and related matters.
Standard exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or
protrusions, or overlapping improvements. Buyer, at Buyer’s expense, may have the exception amended to read:
"shortages in area."
SURVEY: A Survey of the Property shall be made by a registered professional land surveyor acceptable to the Title Company and any
lender. (Initial appropriate option)
a. ______
Seller shall furnish to Buyer and Title Company, within _____ days after the Date of Acceptance of this
Contract, an existing survey of the Property and a Residential Real Property Affidavit promulgated by the
Texas Department of Insurance. If the existing survey of the Property is unacceptable to title company and/or
to Buyer’s lender, Buyer shall obtain a new survey at the expense of _____ (Buyer or Seller) no later than 3
days prior to Closing Date.
or
b. ______
Seller at Seller’s expense shall furnish a new survey of the Property to Buyer within _____ days after the
Effective Date of this Contract.
or
c. ______
Buyer at Buyer’s expense shall obtain a new survey of the Property within _____ days after the Effective
Date of this Contract. Buyer is deemed to receive the survey on the date of actual receipt or the date
specified in this clause, whichever is earlier.
COMMITMENT for TITLE INSURANCE: Seller agrees to furnish to Buyer, at Buyer's expense, within 20 days after the Title Company
receives a copy of this Contract, a Commitment for title insurance and legible copies of restrictive covenants and documents evidencing
exceptions in the Commitment other than standard printed exceptions. Seller authorizes the title company to mail or hand deliver the
Commitment and documents evidencing exceptions to Buyer at Buyer's address. If the Commitment and documents evidencing exceptions
are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or the Closing date,
whichever is earlier.
OBJECTIONS: Buyer shall have the right to object to defects, exceptions, or encumbrances to title disclosed on the survey and in the
Commitment, other than items contained in clause entitled Title Policy or which prohibit the following use or activity:
_______________________________________________. The objection must be in writing and must be taken by Buyer not later than (a)
Closing date or (b) within _____ days after receiving of the Commitment, documents evidencing exceptions and the Survey, whichever is
earlier. Buyer's failure to object within the given timeframe will constitute a waiver of Buyer’s right to object; except that the requirements in
the Commitment are not waived. Seller shall cure the objections of Buyer within 15 days after Seller receives the objections and the Closing
date will be extended as necessary. If Seller fails to cure the objections within such 15 days’ period, this Contract will terminate, and Seller
shall forthwith refund the earnest money to Buyer unless Buyer waives the objections.
TITLE NOTICES:
a. Abstract or Title Policy: Buyer is hereby advised to have the abstract covering the real estate that is the subject of this
Contract examined by an attorney chosen by Buyer; or Buyer should be provided with or obtain a title insurance policy.
b. Owners' Association Membership: (Initial appropriate option)
_____
The Property is subject to mandatory membership in an owner’s association and Seller is required to give
notice as prescribed under the Texas Property Code, Title 2, Chapter 5, Subchapter A, Section 5.012.
_____
The Property is not subject to mandatory membership in an owner’s association and Seller is not required to
give notice as prescribed under the Texas Property Code, Title 2, Chapter 5, Subchapter A, Section 5.012.
or
c. Tax Districts: (Initial appropriate option)
_____
6
The Property is situated in a utility district or other statutorily created district providing, or proposing to provide,
as the district's principal function, water, sanitary sewer, drainage, and flood control or protection facilities or
services, or any of these facilities or services that have been financed or are proposed to be financed with
bonds of the district payable in whole or part from taxes of the district, or by imposition of a standby fee, if any,
to household or commercial users, other than agricultural, irrigation, or industrial users, and which district
Seller: _______ Seller: _______
Buyer _______ Buyer _______
includes less than all the territory in at least one county and which, if located within the corporate area of a city,
includes less than 75 percent of the incorporated area of the city or which is located outside the corporate area
of a city in whole or in substantial part, and Seller is required to give a notice to Buyer, prior to execution of this
Contract as prescribed under the Water Code, Title 4, Chapter 49, Subchapter M, Section 49.452.
or
_____
The Property is not situated in a utility district or other statutorily created district providing, or proposing to
provide, as the district's principal function, water, sanitary sewer, drainage, and flood control or protection
facilities or services, or any of these facilities or services that have been financed or are proposed to be
financed with bonds of the district payable in whole or part from taxes of the district, or by imposition of a
standby fee, if any, to household or commercial users, other than agricultural, irrigation, or industrial users, and
which district includes less than all the territory in at least one county and which, if located within the corporate
area of a city, includes less than 75 percent of the incorporated area of the city or which is located outside the
corporate area of a city in whole or in substantial part, and Seller is not required to give notice to Buyer as
prescribed under the Water Code, Title 4, Chapter 49, Subchapter M, Section 49.452.
d. Tide Waters: (Initial appropriate option)
_____
The Property does not share a common boundary with the tidally influenced submerged lands of the State of
Texas and Seller is not required to give notice to Buyer as prescribed under the Texas Natural Resources
Code, Title 2, Subtitle C, Chapter 33, Subchapter D, Section 33.135.
_____
The Property adjoins and shares a common boundary with the tidally influenced submerged lands of the State
of Texas, and
or
_____
The Property does not share a common boundary with the tidally influenced submerged lands of
the State of Texas and Seller is not required to give notice to Buyer as prescribed under the
Texas Natural Resources Code, Title 2, Subtitle C, Chapter 33, Subchapter D, Section 33.135.
_____
the interest transferred or conveyed in the Property is not a mineral, leasehold or security interest,
and Seller is required to give notice to Buyer, as a part of a written executory contract for the sale,
transfer, or conveyance as prescribed under the Texas Natural Resources Code, Title 2, Subtitle
C, Chapter 33, Subchapter D, Section 33.135.
e. Possible Annexation: Seller is required to give notice to Buyer, prior to execution of this Contract, as prescribed under the
Texas Property Code, Title 2, Chapter 5, Subchapter A, Section 5.011, that the Property, if located outside the limits of a
municipality, may now or later be included in the extraterritorial jurisdiction of a municipality and may now or later be subject
to annexation by the municipality. Contact all municipalities located in the general proximity of the property for further
information.
f. Property Located in Certified Service Area of a Utility Service Provider: (Initial appropriate option)
_____
The Property is located in certified service area of a utility service provider and Seller is required to give notice
to Buyer, at or before the execution of a binding contract for the purchase of the Property, as prescribed under
the Water Code, Title 2, Subtitle B, Chapter13, Subchapter G, Section 13.257.
_____
The Property is not located in certified service area of a utility service provider and Seller is not required to give
notice to Buyer as prescribed under the Water Code, Title 2, Subtitle B, Chapter13, Subchapter G, Section
13.257.
or
g. Public Improvement District (Initial appropriate option)
_____
The Property is in a public improvement district under Chapter 372, the Local
Government Code, and
_____
consists of not more than one dwelling unit and Seller is required to give notice to Buyer as
prescribed under the Property Code, Title 2, Chapter 5, Subchapter A, Section 5.014.
_____
consists of more than one dwelling unit and Seller is not required to give notice to Buyer as
prescribed under the Property Code, Title 2, Chapter 5, Subchapter A, Section 5.014.
or
_____
7
The Property is not in a public improvement district under Chapter 372, Local
Government Code and Seller is not required to give notice to Buyer as prescribed under the Property Code,
Seller: _______ Seller: _______
Buyer _______ Buyer _______
Title 2, Chapter 5, Subchapter A, Section 5.014.
h. Agricultural Development District: (Initial appropriate option)
_____
The Property is located in a Texas Agricultural Development District and Seller is required to give notice to
Buyer, prior to execution of a binding contract of sale and purchase of the Property, either separately or as an
addendum or paragraph of a purchase contract, under the Agriculture Code, Title 4, Chapter 60, Subchapter C,
Section 60.063 (a), subject to sub-section (c) thereof.
or
_____
The Property is not located in a Texas Agricultural Development District and Seller is not required to give
notice to Buyer under the Agriculture Code, Title 4, Chapter 60, Subchapter C, Section 60.063.
ARBITRATION: In the event of any dispute arising out of or relating to this Contract, or the breach thereof, it is hereby agreed the same shall
be settled by a neutral binding arbitration to be held in ___________________________ County, State of Texas, in accordance with the
rules of the American Arbitration Association (AAA) by one or more arbitrators appointed in accordance with the said rules. The notice of
demand for Arbitration shall be made by the aggrieved party within three hundred and sixty five (365) days after the said party knew, or
should have known, of the existence of the said claim or claims. The decision arrived at through the process of arbitration shall be final and
legally binding and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Each party
shall be responsible for its share of the arbitration fees in accordance with the said rules. If a party fails to proceed with arbitration,
unsuccessfully challenges the arbitrator's award, or fails to comply with the arbitrator's award, the other party is entitled to costs of suit,
including reasonable attorney's fees for having to compel arbitration or defend or enforce the award.
ATTORNEY’S FEES: In any action or proceeding between the Buyer and the Seller based, in whole or in part, upon the performance or
non-performance of the terms and conditions of this Contract, including, but not limited to: breach of contract, negligence, misrepresentation
or fraud, the prevailing party in such action or proceeding shall be entitled to receive reasonable attorney’s fees from the other party as
determined by the court or arbitrator.
TERMITE INSPECTION: Within a period of _____ business days after the Date of Acceptance, Buyer, at Buyer's expense, (if VA financed,
then Seller's expense) is authorized and shall have the right to obtain a written report from a state licensed pest control company that, based
on a careful visual inspection, there is no evidence of termite or other wood-destroying insect infestation in the residence and/or garage(s)
within the Property (excluding fences or shrubs not abutting garage(s) or dwelling(s) ) and damage due to previous infestation has been
repaired. If there is evidence of present infestation as described above, or if damage caused by present or prior infestation is discovered,
Buyer may, within _____ business days of receiving the report, either proceed with the purchase or cancel this Contract.
RADON GAS DISCLOSURE: As required by law, Seller makes the following disclosure: "Radon Gas" is a naturally occurring radioactive
gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time.
Levels of radon that exceed federal and state guidelines have been found in buildings in within this state. Additional information regarding
radon and radon testing may be obtained from your county public health unit.
Seller has: (Initial appropriate option)
_____
knowledge that the Property has been tested for radon gas and radon progeny and shall provide Buyer
with a copy of the results of such test and evidence of any subsequent mitigation or treatment;
or
_____
no knowledge that the Property has been tested for radon gas and radon progeny.
HOME AND/OR ENVIRONMENTAL INSPECTION CONTINGENCY: Buyer’s obligation to close this Contract: (Initial appropriate option)
_____
Is subject to the contingency of inspection of the Property. Within a period of ______ business days after
the Date of Acceptance, Buyer may secure at Buyer’s own expense (unless otherwise provided by law)
and Seller agrees to permit, a licensed home inspection service of Buyer’s choice to inspect the major
components of the Property to determine if they are in acceptable operating condition. Major components
include, without limitation, central heating, central cooling, plumbing (including well and septic) and electric
systems; structural components consisting of roofs, walls, windows, ceilings, floors, and foundations; and
all mechanical system, including appliances. Any major component that performs the function for which it
is intended and does not constitute a health or safety threat shall be deemed to be in acceptable operating
condition. Buyer may further secure at Buyer’s own expense and Seller agrees to permit inspection for any
environmental, lead-based paint and/or lead-based paint hazards (unless waived separately), radon,
asbestos, urea-formaldehyde, wood infestation, and mold on the premises by one or more certified home
inspection services of Buyer’s choice. Buyer shall indemnify Seller and shall hold Seller harmless from and
against any loss or damage to the Property or personal injury caused by acts of negligence of Buyer or
Buyer's inspectors.
If any defect(s) is/are revealed by an inspection report, Buyer shall deliver the report to Seller within _____
calendar days of the receipt of the same. Seller shall within _____ calendar days of receipt of the report
8
Seller: _______ Seller: _______
Buyer _______ Buyer _______
notify Buyer in writing of Seller’s option to either rectify the defect(s) at Seller’s expense prior to Closing, or
not to rectify the defect(s). If Seller elects not to repair the defect(s), Buyer shall, within _____ calendar
days of receipt of Seller’s notice not to repair the defect(s), have the option to either accept the Property
with the said defect(s) as revealed by the inspection report or void this Contract. If Buyer chooses to void
this Contract, Seller shall return all the monies received from Buyer on account of the Purchase Price of
Property and there shall be no further obligation on either of the parties hereto and this Contract shall
become
void.
Buyer
agrees
that
repairs
which
do
not
exceed
________________________________________ Dollars ($________) in aggregate shall not be
considered to be within the purview of this section and Buyer agrees to assume those repairs at Buyer’s
own expense. The parties agree that the following items are accepted by Buyer “as is” and shall not be
made a part of Buyer’s request for repairs: _________________________________________. Where
there is a delay in the receipt of the inspection report due solely to the inspector's inability to complete the
inspection, the inspection completion date set forth in this Contract shall be extended for a reasonable
time not to exceed seven (7) calendar days. The inspector shall provide Buyer with an explanation of the
delay, which shall be made available to Seller.
or
_____
is not subject to the contingency of inspection of the Property.
FLOOD HAZARD: During the inspection period, Buyer shall determine by survey, through the lender and all appropriate government
agencies whether the Property is situated in an area identified as having any special flood hazards, whether flood insurance is required and
what restrictions apply to improving the Property and rebuilding in the event of casualty. If the Property is situated in an area identified as
having any special flood hazards by any governmental entity, the lender may require the purchase of flood hazard insurance. Special flood
hazards may also affect the ability to encumber or improve the Property.
INTERNAL REVENUE SERVICE FILING: Buyer and Seller each agree to cooperate with the person responsible for closing by providing all
necessary information so that a report can be filed with the Internal Revenue Service, as required by Section 6045 of the IRS Code. To the
extent permitted by law, the Seller will pay any fees incurred as a result of such filing.
FOREIGN INVESTMENT TAXES - FIRPTA: Section 1445 of the United States Internal Revenue Code of 1986 provides that a buyer of a
residential real property located in the United States must withhold federal income taxes from the payment of the purchase price if (a) the
purchase price exceeds Three Hundred Thousand Dollars ($300,000.00) and (b) the seller is a foreign person. Unless otherwise stated in an
addendum attached hereto, if the purchase price is in excess of Three Hundred Thousand Dollars ($300,000.00), Seller represents that
Seller is not a non-resident alien, foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined by the
Internal Revenue Code and applicable regulations) and agrees to execute an affidavit to this effect at the time of closing.
LEAD PAINT DISCLOSURE: As required by Title X, Section 1018, the Residential Lead-Based Paint Hazard Reduction Act of 1992, "Every
purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may
present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young
children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems
and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real estate is
required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspection in the seller's
possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint
hazards is recommended prior to purchase." The Seller, however, is not required to conduct or pay for any lead-based paint risk
assessment or inspection. Seller is required to provide buyer with a ten (10) day period in which Buyer may procure a risk assessment or
inspection at Buyer's expense.
a) Seller and Buyer agree, represent and warrant, each unto the other, that no binding and enforceable contract shall be deemed to
exist or to have been formed unless the requirements of the Residential Lead-Based Paint Hazard Reduction Act have been
complied with prior to the execution of this Contract by Seller and Buyer. Seller and Buyer represent and warrant that each
intended, as a material term of the offer and acceptance, that the requirements of the Act be complied with as an express
condition of the formation of a binding and enforceable contract by and between the parties. Buyer and Seller acknowledge by
their respective initials below that they have read and understand the provisions of this of this section entitled, LEAD PAINT
DISCLOSURE.
b) Seller represents and warrants to Buyer, intending that Buyer rely upon such warranty and representation, that the property:
(Seller to initial applicable line): _____________was constructed prior to 1978 OR _____________was not constructed prior to
1978 OR ______________ the date of construction is uncertain.
A SELLER WHO FAILS TO GIVE THE REQUIRED LEAD-BASED PAINT DISCLOSURE FORM AND EPA PAMPHLET MAY BE LIABLE
UNDER THE RESIDENTIAL LEAD-BASED PAINT HAZARD REDUCTION ACT FOR THREE TIMES THE AMOUNT OF DAMAGES AND
MAY BE SUBJECT TO BOTH CIVIL AND CRIMINAL PENALTIES.
c) If the Property was constructed prior to 1978 or if the date of construction is uncertain, as indicated by Seller’s initial above, Seller
and Buyer mutually agree that the requirements of the Act shall apply to the sale of the Property.
9
Seller: _______ Seller: _______
Buyer _______ Buyer _______
OTHER DISCLOSURES:
In addition to those disclosures contained herein, Buyer hereby certifies that the following disclosures were delivered to Buyer by Seller prior
to the date of execution of this Contract: (check all applicable)









[ X ] Seller’s Disclosure Notice
[ X ] Seller's Disclosure Regarding Potential Annexation
[ ] Notice of Property Condition
[ ] Notice Regarding Membership In A Property Owners Association
[ ] Disclosure of Location of Conditions Under Surface of Unimproved Real Property
[ ] Seller's Disclosure of Tax Payments and Insurance Coverage
[ ] Seller’s Disclosure of Financing Terms
[ ] Lead Paint Disclosure
[ ] Lead Paint Pamphlet
NOTICE TO SELLER: This Contract should not be executed if the disclosures indicated above were not presented to Buyer, and
additionally, signed and dated by Buyer prior to today’s date. The above-indicated, applicable disclosures should be delivered to, signed
and dated by Buyer prior to the date of execution of this Contract.
NOTICE OF ADDITIONAL TAX LIABILITY: (check one)
1.
2.
[
[
] This is not a transaction for vacant land.
] This is a transaction for vacant land. Seller hereby provides Buyer the following notice:
NOTICE REGARDING POSSIBLE LIABILITY FOR ADDITIONAL TAXES. If for the current ad valorem tax year the taxable value of the
land that is the subject of this contract is determined by a special appraisal method that allows for appraisal of the land at less than its
market value, the person to whom the land is transferred may not be allowed to qualify the land for that special appraisal in a subsequent tax
year and the land may then be appraised at its full market value. In addition, the transfer of the land or a subsequent change in the use of
the land may result in the imposition of an additional tax plus interest as a penalty for the transfer or the change in the use of the land. The
taxable value of the land and the applicable method of appraisal for the current tax year is public information and may be obtained from the
tax appraisal district established for the county in which the land is located.
TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted in this form shall control all printed
provisions in conflict therewith.
PARAGRAPH HEADINGS: The headings of particular paragraphs and subparagraphs are inserted only for convenience and are not part of
this Agreement and are not to act as a limitation on the scope of the particular paragraph to which the heading refers.
USE OF PRONOUNS: The use of the neuter singular pronoun to refer to the Parties described in this Agreement shall be deemed a proper
reference even though the Parties may be an individual, a partnership, a corporation, or group of two or more individuals, partnerships or
corporations. The necessary grammatical changes required to make the provisions of this Agreement apply in the plural sense where there
is more then one party to this Agreement, and to either corporations, partnerships or individuals, males or females, shall in all instances be
assumed as though in each case fully expressed.
INDEMNIFICATION: Each party shall indemnify and hold the other party harmless from any and all violations, claims, losses, damages,
injuries and liabilities arising from or in connection with the operations of this Agreement, transaction of sale, false, misleading or
misrepresentation of any certifications, warrantees or information, violation of federal and state laws, breach of contract or any acts and/or
omissions caused by the harming party.
BINDING PARTIES: This Contract shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, executors,
administrators, successors and assigns.
NO ORAL AGREEMENTS: This executory contract represents the final agreement between the seller and purchaser and may not be
contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the parties. There are no unwritten oral agreements
between the parties.
FORUM AND CHOICE OF LAW. This Agreement in all matter and issues collateral thereto shall be governed by, and construed and
interpreted in accordance with the laws of the State of Texas with respect to the determination fo any claim, dispute or disagreement, which
may arise out of the interpretation, performance or breach of this Agreement, ad will be subject to enforcement and interpretation solely in
the appropriate courts of the State of Texas, without reference to principles of conflict of laws.
ENTIRE AGREEMENT: This document and any Addenda constitutes the final and entire Agreement between the parties hereto, and no
promises or representations, other than those contained here and those implied by law, have been made by Seller or Buyer. Neither Seller
or Buyer shall be bound by any terms, conditions, statements, warranties or representations, oral or written, not herein contained unless
made in writing and signed by both Seller and Buyer.
10
Seller: _______ Seller: _______
Buyer _______ Buyer _______
SEVERABILITY: The provisions of this Contract are severable and in the event any provision, clause, sentence, section or part thereof is
held to be invalid, illegal, unconstitutional, inapplicable or unenforceable to any person or circumstances, such invalidity, illegality,
unconstitutionality, inapplicability or unenforceability shall not affect or impair any of the remaining provisions, sentences, clauses, sections,
parts of the contract or their application to Seller or Buyer or other persons or circumstances. It is understood and agreed that the terms,
conditions and covenants of this Contract would have been made by both parties if such invalid, illegal, unconstitutional, inapplicable or
unenforceable provision, sentence, clause, section or part had not been included therein to the extent that portion of this agreement may be
invalid by striking of certain words or phrases, such words or phrases shall be deemed to be stricken and the remainder of the provisions
and the remainder of the other portions of this Contract agreement shall remain in full force and effect. It is further agreed that this Contract
may be executed in counterparts, each of which when considered together shall constitute the original contract.
ADDITIONAL PROVISIONS:
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
YOU, THE PURCHASER, MAY CANCEL THIS CONTRACT AT ANY TIME DURING THE NEXT TWO WEEKS. THE DEADLINE FOR
CANCELING THE CONTRACT IS _____________ (DATE).
SIGNED, ACCEPTED, AND AGREED TO on __ day of _________, 20__ (“effective date”) by the undersigned parties, who acknowledge
that they have read and understand this Agreement and the Attachments to it and they execute this legal document voluntarily and of their
own free will.
Buyer:
Date:
Address:
Tax ID/SSN:
Buyer:
Date:
Address:
Tax ID/SSN:
Seller:
Date:
Address:
Tax ID/SSN:
Seller:
Date:
Address:
Tax ID/SSN:
WITNESSES:
Witness:
Date:
Witness:
Date:
11
Seller: _______ Seller: _______
Buyer _______ Buyer _______
Promissory Note
FOR VALUE RECEIVED, the undersigned ______________, (the “Buyer”) hereby
promises to pay to the order of ______________________ (the “Seller”) at
_________________ (Seller’s Address) the whole principal sale amount of
_____________ dollars payable upon the closing date of ________________ for the
purchase of below said real property located at;
Legal Description of Property:
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
WHERE AS;
The Buyer acknowledges that he/she has full knowledge of the principal amount as well
as the terms and conditions set forth in this note.
1. Not Secured. This Promissory note is not secured.
2. Interest. Interests and penalties of this note are subject to the Sale Agreement entered
between the Buyer and Seller herein regarding the above referenced property.
3. Principal. The entire principal balance of this Note shall be come due and payable on
the closing date of sale of the above referenced property.
4. Payment. Payment shall be made in lawful tender of the United States.
5. Events of Acceleration. The entire unpaid principal balance of this Note shall become
due and payable prior to the specified due date of this Note upon the occurrence of one or
more of the following events and in the following manner:
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
Promissory Note
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1
6. Collection. If action is instituted to collect this Note, the Buyer promises to pay all
costs and expenses (including reasonable attorney fees) incurred in connection with such
action.
7. Waiver. Waiver of any term of this Note must be made in writing and signed by the
parties herein, and any such waiver shall be limited to its express terms. No delay by the
Seller with respect to the terms of this Note shall constitute a waiver of any breach,
default, or failure of a condition under this Note. The Buyer waives presentment,
demand, notice of dishonor, notice of default or delinquency, notice of acceleration,
notice of protest and nonpayment, notice of costs, expenses or losses and interest thereon,
notice of interest on interest and diligence in taking any action to collect any sums owing
under this Note or in proceeding against any of the rights or interests in or to properties
securing payment of this Note. In addition, Buyer agrees to remain fully bound until all
monies due under this Promissory Note have been paid in full and waives all rights of
subrogation and set-off.
8. Bankruptcy or Insolvency. In the event of payment of any other amounts secured by
this Promissory Note or upon the bankruptcy or insolvency of the undersigned or upon
the filing of a petition in bankruptcy against the undersigned or upon the making of a
proposal in bankruptcy by the undersigned, the whole of the monies (or any part thereof)
secured by this Promissory Note remaining unpaid shall be, at the option of the Seller,
forthwith become due and payable and all the powers in and by the Promissory Note or
by law conferred in case of default shall become exercisable.
9. Default. In the event of default by the Buyer, all reasonable legal fees collection and
enforcement charges to the extent permissible by law, in addition to other amounts dues,
shall be payable by the Buyer.
10. Governing Law. This Promissory Note shall be governed by the laws of the State of
Texas, which laws shall be applicable to the interpretation, construction and enforcement
hereof.
11. Conflicting Agreements. In the event of any inconsistencies between the terms of this
Note and the terms of any other document related to the loan evidenced by the Note, the
terms of this Note shall prevail.
12. Binding Note. This Promissory Note shall be binding upon and accure to the benefit
of the parties, their successors, legal representative and assigns.
Promissory Note
Legal-Forms-Kit.com
2
The Undersigned hereby warrants his/hers full authority to enter into this Promissory
Note.
Signed at _____________________________ on this ____ day of _____________, 20__.
__________________________
(Purchaser)
Signed in the presence of:
___________________________________________
(1) Name & Signature
_____________
___________________________________________
(2) Name & Signature
_____________
Promissory Note
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3
OFFER TO PURCHASE REAL ESTATE
BE IT KNOWN, the undersigned ___________________________________________ of
______________________________________________________ (Buyer) offers to purchase from
_______________________ of ________________________________ (Owner), real estate known as
_____________________________________________
City/Town of _________________________, County of ________________________, State of
_____________________________, said property more particularly described as:
___________________________________________________________________
______________________________________________________________________
and containing ____________________ square feet of land, more or less.
The purchase price is:
$ ________________
Deposit herewith paid:
$ ________________
Upon signing sales agreement:
$ ________________
Balance at closing:
Total purchase price:
$ ________________
$ ________________
This offer is subject to Buyer obtaining a real estate mortgage for no less than;
$_________________________ payable over _______ years with interest not to exceed _____% at
customary terms within ____________ days from date hereof.
The broker to this transaction is ________________________________ who shall be paid a commission
of _______________ by seller upon closing.
This offer is further subject to Buyer obtaining a satisfactory home inspection report and termite/pest
report within ___________ days from date hereof. Said property is to be sold free and clear of all
encumbrances, by good and marketable title, with full possession of said property available to Buyer.
The parties agree to execute a standard purchase and sales agreement on the terms
contained herein, within ______________________ days.
The closing shall be on or before ____________________ (month & day), ____ (year)
at the deed recording office.
Signed this _______ day of ____________________ (month), ___ (year).
Legal-Forms-Kit.com
In the presence of:
__________________________________ __________________________________
Witness
_________________________________
Witness
_________________________________
Owner
Legal-Forms-Kit.com
Broker
__________________________________
Buyer
Counter offer.
The Offer to Purchase dated _________ and signed by Buyer, _________, for purchase of real estate at _________
is countered. All terms and conditions to remain the same as stated on the Offer to Purchase except the following:
_______________ _______________
Seller agrees to sell and convey the above property on the terms and conditions as set forth in this Seller's
Counter-Offer and acknowledges receipt of a copy of it. The warranties and representations made in this
Counter-Offer survive the closing of this transaction.
This Counter-Offer must be accepted on or before _________(TIME IS OF THE ESSENCE) and it shall not become binding upon Seller until a copy of the accepted Counter-Offer is deposited, postage prepaid, in the United
States mails, addressed to Seller at _________ or by person delivery thereof to Seller.
Dated: _________
_________[Name of licensee who negotiated this Counter-Offer]
[Signature(s) of seller(s)]
_______________
The above Counter-Offer is hereby (accepted/countered). If countered, all terms and conditions to remain the same
as stated on the Offer to Purchase and not to include any of the terms on the above or any other Counter-Offer except
the following: _______________ _______________
This Buyer's Counter-Offer must be accepted on or before _________(TIME IS OF THE ESSENCE) and it shall
not become binding upon Buyer until a copy of the accepted Counter-Offer is deposited, postage prepaid, in the United
States mails, addressed to Buyer at _________ or by personal delivery thereof to Buyer.
Dated: _________
_________[Name of licensee who negotiated this Counter-Offer]
[Signature(s) of buyer(s)]
_______________
Buyer's above Counter-Offer is hereby accepted. If Seller is not accepting Buyer's Counter-Offer, Seller should not
sign below. Seller may counter on a new Counter-Offer form.
Dated: _________
_________[Name of licensee who negotiated this Counter-Offer]
[Attach original Offer to Purchase]
Legal-Forms-Kit.com
[Signature(s) of seller(s)]
_______________
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
_______________, hereinafter referred to as PRINCIPAL, in the County of ________ State of
Texas, being of sound mind, do(es) appoint [individual] as his (her) true and lawful attorney-infact.
Any and all general powers of attorney that previously have been signed by principal are hereby
revoked. However, the preceding sentence shall not have the effect of revoking any powers of
attorney that are directly related to principal’s health care that previously have been signed by
principal.
In the principal's name, and for the principal's use and benefit, said attorney-in-fact is authorized
hereby:
1) Sell, convey, lease, mortgage, manage, insure, improve, repair, or perform any other act with
respect to any of principal’s property currently owned or acquired later, including, but not
limited to, real estate and real estate rights (including the right to remove tenants and to recover
possession). This includes the right to sell or encumber any homestead currently owned or may
own in the future.
2) Sell, exchange, buy, invest, or reinvest any assets or real or tangible property owned or
acquired later.
3) Perform any act necessary to negotiate, sell or transfer any note or security.
4) Enter into legally binding contracts on behalf of Principal.
5) Consent to and release of liability disclosures regarding the transaction of sale of Principal’s
tangible or real property currently owned or acquired later.
6) Purchase and/or maintain home-owner’s insurance or addition insurance requirements subject
to the transaction of sale of Principal’s tangible or real property currently owned or acquired
later.
7) Disclosure of financial information to 3rd parties in regards to checking accounts, savings
accounts, and certificates of deposit), brokerage accounts, and other similar accounts with
financial institutions necessary to perform any transaction of sale of Principal’s tangible or real
property currently owned or acquired later.
8) Prepare, sign, and file documents with any governmental body or agency, including, but not
limited to, authorization to:
Legal‐Forms‐Kit.com 9) Obtain information or documents from any government or its agencies, and negotiate,
compromise, or settle any matter with such government or agency (including tax matters).
10) Prepare applications, provide information, and perform any other act reasonably requested by
any government or its agencies in connection with governmental benefits (including military and
social security benefits).
11) Disclaim any interest that might otherwise be transferred or distributed to principal from any
other person, estate or other entity, as may be appropriate.
Said attorney-in-fact shall not be liable for any loss that results from a judgment error that was
made in good faith. However, said attorney shall be liable for willful misconduct or the failure to
act in good faith while acting under the authority of this Power of Attorney.
Principal authorizes said attorney to indemnify and hold harmless any third party who accepts
and acts under this document.
Giving and granting to said attorney full power and authority to do all and every act and thing
whatsoever requisite and necessary to be done relative to any of the foregoing as fully to all
intents and purposes as principal might or could do if personally present.
All that said attorney shall lawfully do or cause to be done under the authority of this power of
attorney is expressly approved.
1. WITNESS' SIGNATURE: __________________________________
WITNESS' PRINTED FULL LEGAL NAME: __________________________________
2. WITNESS' SIGNATURE: __________________________________
WITNESS' PRINTED FULL LEGAL NAME: __________________________________ ]
Dated: __________, 20____ at _________________________, _________________________.
By: __________
Legal‐Forms‐Kit.com STATE OF TEXAS
§
COUNTY OF __________
§
BEFORE ME, the undersigned authority, on this __________ day of __________, 20_____,
personally appeared __________ to me well known to be the person described in and who signed
the foregoing Power of Attorney, and acknowledged to me that he executed the same freely and
voluntarily for the uses and purposes therein expressed.
WITNESS my hand and official seal the date aforesaid.
NOTARY PUBLIC
My Commission Expires:
_______________
Legal‐Forms‐Kit.com Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
Lead Warning Statement
Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose
health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant
women. Before renting pre-1978 housing, lessors must disclose the presence of known lead-based paint and/or
lead-based paint hazards in the dwelling. Lessees must also receive a federally approved pamphlet on lead
poisoning prevention.
Lessor’s Disclosure
(a) Presence of lead-based paint and/or lead-based paint hazards (check (i) or (ii) below):
(i) ______ Known lead-based paint and/or lead-based paint hazards are present in the housing
(explain).
_______________________________________________________________________________________
_______________________________________________________________________________________
(ii) _____ Lessor has no knowledge of lead-based paint and/or lead-based paint hazards in the
housing.
(b) Records and reports available to the lessor (check (i) or (ii) below):
(i) ______ Lessor has provided the lessee with all available records and reports pertaining to
lead-based paint and/or lead-based paint hazards in the housing (list documents
below).
_______________________________________________________________________________________
_______________________________________________________________________________________
(ii) _____ Lessor has no reports or records pertaining to lead-based paint and/or lead-based
paint hazards in the housing.
Lessee’s Acknowledgment (initial)
(c) ________ Lessee has received copies of all information listed above.
(d) ________ Lessee has received the pamphlet Protect Your Family from Lead in Your Home.
Agent’s Acknowledgment (initial)
(e) ________ Agent has informed the lessor of the lessor’s obligations under 42 U.S.C. 4852d and
is aware of his/her responsibility to ensure compliance.
Certification of Accuracy
The following parties have reviewed the information above and certify, to the best of their knowledge, that
the information they have provided is true and accurate.
__________________________________________________
Lessor
Date
__________________________________________________
Lessee
Date
__________________________________________________
Agent
Date
__________________________________________________
Lessor
Date
__________________________________________________
Lessee
Date
__________________________________________________
Agent
Date
Simple Steps To Protect Your Family
From Lead Hazards
If you think your home has high
levels of lead:
Get your young children tested for lead, even if
they seem healthy.
Wash children’s hands, bottles, pacifiers, and toys
often.
Make sure children eat healthy, low-fat foods.
Get your home checked for lead hazards.
Regularly clean floors, window sills, and other
surfaces.
Wipe soil off shoes before entering house.
Talk to your landlord about fixing surfaces with
peeling or chipping paint.
Take precautions to avoid exposure to lead dust
when remodeling or renovating (call 1-800-424LEAD for guidelines).
Don’t use a belt-sander, propane torch, high
temperature heat gun, scraper, or sandpaper on
painted surfaces that may contain lead.
Don’t try to remove lead-based paint yourself.
Recycled/Recyclable
Printed with vegetable oil based inks on recycled paper
(minimum 50% postconsumer) process chlorine free.
Protect
Your
Family
From
Lead In
Your
Home
United States
Environmental
Protection Agency
United States
Consumer Product
Safety Commission
United States
Department of Housing
and Urban Development
Are You Planning To Buy, Rent, or Renovate
a Home Built Before 1978?
M
any houses and apartments built before 1978 have
paint that contains high levels of lead (called leadbased paint). Lead from paint, chips, and dust can
pose serious health hazards if not taken care of properly.
OWNERS, BUYERS, and RENTERS are
encouraged to check for lead (see page 6)
before renting, buying or renovating pre1978 housing.
F
ederal law requires that individuals receive certain
information before renting, buying, or renovating
pre-1978 housing:
LANDLORDS have to disclose known information on lead-based paint and lead-based
paint hazards before leases take effect.
Leases must include a disclosure about
lead-based paint.
SELLERS have to disclose known information on lead-based paint and lead-based
paint hazards before selling a house. Sales
contracts must include a disclosure about
lead-based paint. Buyers have up to 10
days to check for lead.
RENOVATORS disturbing more than 2 square
feet of painted surfaces have to give you
this pamphlet before starting work.
IMPORTANT!
Lead From Paint, Dust, and
Soil Can Be Dangerous If Not
Managed Properly
FACT: Lead exposure can harm young
children and babies even before they
are born.
FACT: Even children who seem healthy can
have high levels of lead in their bodies.
FACT: People can get lead in their bodies by
breathing or swallowing lead dust, or by
eating soil or paint chips containing
lead.
FACT: People have many options for reducing
lead hazards. In most cases, lead-based
paint that is in good condition is not a
hazard.
FACT: Removing lead-based paint improperly
can increase the danger to your family.
If you think your home might have lead
hazards, read this pamphlet to learn some
simple steps to protect your family.
1
Lead Gets in the Body in Many Ways
Childhood
lead
poisoning
remains a
major
environmental health
problem in
the U.S.
People can get lead in their body if they:
Breathe in lead dust (especially during
renovations that disturb painted
surfaces).
Put their hands or other objects
covered with lead dust in their mouths.
Eat paint chips or soil that contains
lead.
Lead is even more dangerous to children
under the age of 6:
At this age children’s brains and nervous
systems are more sensitive to the damaging effects of lead.
Even children
who appear
healthy can
have dangerous levels of
lead in their
bodies.
Children’s growing bodies absorb more
lead.
Babies and young children often put
their hands and other objects in their
mouths. These objects can have lead
dust on them.
Lead is also dangerous to women of
childbearing age:
Women with a high lead level in their
system prior to pregnancy would expose
a fetus to lead through the placenta
during fetal development.
2
Lead’s Effects
It is important to know that even exposure
to low levels of lead can severely harm
children.
In children, lead can cause:
Nervous system and kidney damage.
Learning disabilities, attention deficit
disorder, and decreased intelligence.
Brain or Nerve Damage
Hearing
Problems
Speech, language, and behavior
problems.
Poor muscle coordination.
Slowed
Growth
Decreased muscle and bone growth.
Hearing damage.
While low-lead exposure is most
common, exposure to high levels of
lead can have devastating effects on
children, including seizures, unconsciousness, and, in some cases, death.
Although children are especially
susceptible to lead exposure, lead
can be dangerous for adults too.
In adults, lead can cause:
Digestive
Problems
Increased chance of illness during
pregnancy.
Reproductive
Problems
(Adults)
Harm to a fetus, including brain
damage or death.
Fertility problems (in men and women).
High blood pressure.
Lead affects
the body in
many ways.
Digestive problems.
Nerve disorders.
Memory and concentration problems.
Muscle and joint pain.
3
Where Lead-Based Paint Is Found
In general,
the older your
home, the
more likely it
has leadbased paint.
Many homes built before 1978 have leadbased paint. The federal government
banned lead-based paint from housing in
1978. Some states stopped its use even
earlier. Lead can be found:
In homes in the city, country, or suburbs.
In apartments, single-family homes, and
both private and public housing.
Inside and outside of the house.
In soil around a home. (Soil can pick up
lead from exterior paint or other sources
such as past use of leaded gas in cars.)
Checking Your Family for Lead
Get your
children and
home tested
if you think
your home
has high levels of lead.
To reduce your child's exposure to lead,
get your child checked, have your home
tested (especially if your home has paint
in poor condition and was built before
1978), and fix any hazards you may have.
Children's blood lead levels tend to increase
rapidly from 6 to 12 months of age, and
tend to peak at 18 to 24 months of age.
Consult your doctor for advice on testing
your children. A simple blood test can
detect high levels of lead. Blood tests are
usually recommended for:
Children at ages 1 and 2.
Children or other family members who
have been exposed to high levels of lead.
Children who should be tested under
your state or local health screening plan.
Your doctor can explain what the test results
mean and if more testing will be needed.
4
Identifying Lead Hazards
Lead-based paint is usually not a hazard if
it is in good condition, and it is not on an
impact or friction surface, like a window. It
is defined by the federal government as
paint with lead levels greater than or equal
to 1.0 milligram per square centimeter, or
more than 0.5% by weight.
Deteriorating lead-based paint (peeling,
chipping, chalking, cracking or damaged)
is a hazard and needs immediate attention.
It may also be a hazard when found on surfaces that children can chew or that get a
lot of wear-and-tear, such as:
Lead from
paint chips,
which you
can see, and
lead dust,
which you
can’t always
see, can both
be serious
hazards.
Windows and window sills.
Doors and door frames.
Stairs, railings, banisters, and porches.
Lead dust can form when lead-based paint is scraped, sanded, or
heated. Dust also forms when painted surfaces bump or rub together. Lead chips and dust can get on surfaces and objects that people
touch. Settled lead dust can re-enter the air when people vacuum,
sweep, or walk through it. The following two federal standards have
been set for lead hazards in dust:
40 micrograms per square foot (µg/ft2) and higher for floors,
including carpeted floors.
250 µg/ft2 and higher for interior window sills.
Lead in soil can be a hazard when children play in bare soil or
when people bring soil into the house on their shoes. The following
two federal standards have been set for lead hazards in residential
soil:
400 parts per million (ppm) and higher in play areas of bare soil.
1,200 ppm (average) and higher in bare soil in the remainder of
the yard.
The only way to find out if paint, dust and soil lead hazards exist is
to test for them. The next page describes the most common methods used.
5
Checking Your Home for Lead
Just knowing
that a home
has leadbased paint
may not tell
you if there
is a hazard.
You can get your home tested for lead in
several different ways:
A paint inspection tells you whether your
home has lead-based paint and where it
is located. It won’t tell you whether or not
your home currently has lead hazards.
A risk assessment tells you if your home
currently has any lead hazards from lead
in paint, dust, or soil. It also tells you what
actions to take to address any hazards.
A combination risk assessment and
inspection tells you if your home has
any lead hazards and if your home has
any lead-based paint, and where the
lead-based paint is located.
Hire a trained and certified testing professional who will use a range of reliable
methods when testing your home.
Visual inspection of paint condition
and location.
A portable x-ray fluorescence (XRF)
machine.
Lab tests of paint, dust, and soil
samples.
There are state and federal programs in
place to ensure that testing is done safely,
reliably, and effectively. Contact your state
or local agency (see bottom of page 11) for
more information, or call 1-800-424-LEAD
(5323) for a list of contacts in your area.
Home test kits for lead are available, but
may not always be accurate. Consumers
should not rely on these kits before doing
renovations or to assure safety.
6
What You Can Do Now To Protect
Your Family
If you suspect that your house has lead
hazards, you can take some immediate
steps to reduce your family’s risk:
If you rent, notify your landlord of
peeling or chipping paint.
Clean up paint chips immediately.
Clean floors, window frames, window
sills, and other surfaces weekly. Use a
mop or sponge with warm water and a
general all-purpose cleaner or a cleaner
made specifically for lead. REMEMBER:
NEVER MIX AMMONIA AND BLEACH
PRODUCTS TOGETHER SINCE THEY
CAN FORM A DANGEROUS GAS.
Thoroughly rinse sponges and mop
heads after cleaning dirty or dusty
areas.
Wash children’s hands often, especially before they eat and before nap time
and bed time.
Keep play areas clean. Wash bottles,
pacifiers, toys, and stuffed animals
regularly.
Keep children from chewing window
sills or other painted surfaces.
Clean or remove shoes before
entering your home to avoid
tracking in lead from soil.
Make sure children eat
nutritious, low-fat meals high
in iron and calcium, such as
spinach and dairy products.
Children with good diets absorb
less lead.
7
Reducing Lead Hazards In The Home
Removing
lead
improperly
can increase
the hazard to
your family
by spreading
even more
lead dust
around the
house.
Always use a
professional who
is trained to
remove lead
hazards safely.
In addition to day-to-day cleaning and good
nutrition:
You can temporarily reduce lead hazards
by taking actions such as repairing damaged painted surfaces and planting grass
to cover soil with high lead levels. These
actions (called “interim controls”) are not
permanent solutions and will need ongoing attention.
To permanently remove lead hazards,
you should hire a certified lead “abatement” contractor. Abatement (or permanent hazard elimination) methods
include removing, sealing, or enclosing
lead-based paint with special materials.
Just painting over the hazard with regular
paint is not permanent removal.
Always hire a person with special training
for correcting lead problems—someone
who knows how to do this work safely and
has the proper equipment to clean up
thoroughly. Certified contractors will employ
qualified workers and follow strict safety
rules as set by their state or by the federal
government.
Once the work is completed, dust cleanup
activities must be repeated until testing
indicates that lead dust levels are below the
following:
40 micrograms per square foot (µg/ft2)
for floors, including carpeted floors;
250 µg/ft2 for interior windows sills; and
400 µg/ft2 for window troughs.
8
Call your state or local agency (see bottom
of page 11) for help in locating certified
professionals in your area and to see if
financial assistance is available.
Remodeling or Renovating a Home With
Lead-Based Paint
Take precautions before your contractor or
you begin remodeling or renovating anything that disturbs painted surfaces (such
as scraping off paint or tearing out walls):
Have the area tested for lead-based
paint.
Do not use a belt-sander, propane
torch, high temperature heat gun, dry
scraper, or dry sandpaper to remove
lead-based paint. These actions create
large amounts of lead dust and fumes.
Lead dust can remain in your home
long after the work is done.
Temporarily move your family (especially children and pregnant women)
out of the apartment or house until
the work is done and the area is properly cleaned. If you can’t move your
family, at least completely seal off the
work area.
Follow other safety measures to
reduce lead hazards. You can find out
about other safety measures by calling
1-800-424-LEAD. Ask for the brochure
“Reducing Lead Hazards When
Remodeling Your Home.” This brochure
explains what to do before, during,
and after renovations.
If you have already completed renovations or remodeling that could have
released lead-based paint or dust, get
your young children tested and follow
the steps outlined on page 7 of this
brochure.
If not
conducted
properly,
certain types
of renovations can
release lead
from paint
and dust into
the air.
9
Other Sources of Lead
Drinking water. Your home might have
plumbing with lead or lead solder. Call
your local health department or water
supplier to find out about testing your
water. You cannot see, smell, or taste
lead, and boiling your water will not get
rid of lead. If you think your plumbing
might have lead in it:
While paint, dust,
and soil are the
most common
sources of lead,
other lead
sources also exist.
• Use only cold water for drinking and
cooking.
• Run water for 15 to 30 seconds
before drinking it, especially if you
have not used your water for a few
hours.
The job. If you work with lead, you
could bring it home on your hands or
clothes. Shower and change clothes
before coming home. Launder your work
clothes separately from the rest of your
family’s clothes.
Old painted toys and furniture.
Food and liquids stored in lead crystal
or lead-glazed pottery or porcelain.
Lead smelters or other industries that
release lead into the air.
Hobbies that use lead, such as making
pottery or stained glass, or refinishing
furniture.
Folk remedies that contain lead, such as
“greta” and “azarcon” used to treat an
upset stomach.
10
For More Information
The National Lead Information Center
Call 1-800-424-LEAD (424-5323) to learn
how to protect children from lead poisoning
and for other information on lead hazards.
To access lead information via the web, visit
www.epa.gov/lead and
www.hud.gov/offices/lead/.
EPA’s Safe Drinking Water Hotline
Call 1-800-426-4791 for information about
lead in drinking water.
Consumer Product Safety
Commission (CPSC) Hotline
To request information on lead in
consumer products, or to report an
unsafe consumer product or a product-related injury call 1-800-6382772, or visit CPSC's Web site at:
www.cpsc.gov.
Health and Environmental Agencies
Some cities, states, and tribes have
their own rules for lead-based paint
activities. Check with your local agency to
see which laws apply to you. Most agencies
can also provide information on finding a
lead abatement firm in your area, and on
possible sources of financial aid for reducing
lead hazards. Receive up-to-date address
and phone information for your local contacts on the Internet at www.epa.gov/lead
or contact the National Lead Information
Center at 1-800-424-LEAD.
For the hearing impaired, call the Federal Information
Relay Service at 1-800-877-8339 to access any of
the phone numbers in this brochure.
11
EPA Regional Offices
Your Regional EPA Office can provide further information regarding regulations and lead protection programs.
EPA Regional Offices
Region 1 (Connecticut, Massachusetts,
Maine, New Hampshire, Rhode Island,
Vermont)
Regional Lead Contact
U.S. EPA Region 1
Suite 1100 (CPT)
One Congress Street
Boston, MA 02114-2023
1 (888) 372-7341
Region 2 (New Jersey, New York,
Puerto Rico, Virgin Islands)
Regional Lead Contact
U.S. EPA Region 2
2890 Woodbridge Avenue
Building 209, Mail Stop 225
Edison, NJ 08837-3679
(732) 321-6671
Region 3 (Delaware, Maryland,
Pennsylvania, Virginia, Washington DC,
West Virginia)
Regional Lead Contact
U.S. EPA Region 3 (3WC33)
1650 Arch Street
Philadelphia, PA 19103
(215) 814-5000
Region 4 (Alabama, Florida, Georgia,
Kentucky, Mississippi, North Carolina,
South Carolina, Tennessee)
Regional Lead Contact
U.S. EPA Region 4
61 Forsyth Street, SW
Atlanta, GA 30303
(404) 562-8998
Region 5 (Illinois, Indiana, Michigan,
Minnesota, Ohio, Wisconsin)
Regional Lead Contact
U.S. EPA Region 5 (DT-8J)
77 West Jackson Boulevard
Chicago, IL 60604-3666
(312) 886-6003
12
Region 6 (Arkansas, Louisiana, New
Mexico, Oklahoma, Texas)
Regional Lead Contact
U.S. EPA Region 6
1445 Ross Avenue, 12th Floor
Dallas, TX 75202-2733
(214) 665-7577
Region 7 (Iowa, Kansas, Missouri,
Nebraska)
Regional Lead Contact
U.S. EPA Region 7
(ARTD-RALI)
901 N. 5th Street
Kansas City, KS 66101
(913) 551-7020
Region 8 (Colorado, Montana, North
Dakota, South Dakota, Utah, Wyoming)
Regional Lead Contact
U.S. EPA Region 8
999 18th Street, Suite 500
Denver, CO 80202-2466
(303) 312-6021
Region 9 (Arizona, California, Hawaii,
Nevada)
Regional Lead Contact
U.S. Region 9
75 Hawthorne Street
San Francisco, CA 94105
(415) 947-4164
Region 10 (Alaska, Idaho, Oregon,
Washington)
Regional Lead Contact
U.S. EPA Region 10
Toxics Section WCM-128
1200 Sixth Avenue
Seattle, WA 98101-1128
(206) 553-1985
CPSC Regional Offices
Your Regional CPSC Office can provide further information regarding regulations and consumer product safety.
Eastern Regional Center
Consumer Product Safety Commission
201 Varick Street, Room 903
New York, NY 10014
(212) 620-4120
Western Regional Center
Consumer Product Safety Commission
1301 Clay Street, Suite 610-N
Oakland, CA 94612
(510) 637-4050
Central Regional Center
Consumer Product Safety Commission
230 South Dearborn Street, Room 2944
Chicago, IL 60604
(312) 353-8260
HUD Lead Office
Please contact HUD's Office of Healthy Homes and Lead Hazard
Control for information on lead regulations, outreach efforts, and
lead hazard control and research grant programs.
U.S. Department of Housing and Urban Development
Office of Healthy Homes and Lead Hazard Control
451 Seventh Street, SW, P-3206
Washington, DC 20410
(202) 755-1785
This document is in the public domain. It may be reproduced by an individual or
organization without permission. Information provided in this booklet is based
upon current scientific and technical understanding of the issues presented and
is reflective of the jurisdictional boundaries established by the statutes governing
the co-authoring agencies. Following the advice given will not necessarily provide complete protection in all situations or against all health hazards that can
be caused by lead exposure.
U.S. EPA Washington DC 20460
U.S. CPSC Washington DC 20207
U.S. HUD Washington DC 20410
EPA747-K-99-001
June 2003
13
Seller's Disclosure Regarding Potential Annexation
Texas Property Code §5.011
NOTICE REGARDING POSSIBLE ANNEXATION
If the property that is the subject of this contract is located outside the limits of a municipality,
the property may now or later be included in the extraterritorial jurisdiction of a municipality
and may now or later be subject to annexation by the municipality. Each municipality maintains
a map that depicts its boundaries and extraterritorial jurisdiction. To determine if the property
is located within a municipality's extraterritorial jurisdiction or is likely to be located within a
municipality's extraterritorial jurisdiction, contact all municipalities located in the general
proximity of the property for further information.
I ACKNOWLEDGE RECEIPT OF THIS DISCLOSURE REGARDING POTENTIAL
ANNEXATION BY SELLER PURSUANT TO TEX PR. CODE ANN. §5.011(b).
______________________________
(Date)
______________________________
(BUYER’S SIGNATURE)
NOTICE OF CANCELLATION
PURCHASER’S RIGHT TO CANCEL WITHOUT CAUSE
Pursuant to TEX PR. CODE ANN §5.074, Notice is hereby given that you may
cancel the executory contract, dated ___/___/_____ for any reason without any
penalty or obligation by ___ / ___ / ______.
1. you must send by telegram or certified or registered mail, return receipt
requested, or deliver in person a signed and dated copy of this cancellation
notice or any other written notice to:
Seller’s name: ____________________________________________ at Seller’s
address: _____________________________________________ by ___ / ___ /
______.
2. The Seller shall, not later than the 10th day after the date the seller receives
your cancellation notice:
a. Return the executed contract and any property exchanged or
payments made by you under the contract; and
b. Cancel any security interest arising out of the contract.
I acknowledge receipt of this notice of cancellation form.
______________________________
(Date)
______________________________
(Buyer’s Signature)
I hereby cancel this contract.
______________________________
(Date)
______________________________
(Buyer’s Signature)
Comment: Pursuant to Tex Pr. Code. Ann §5.074(a), If in the event the purchaser
cancels or rescinds an executor contract for any reason, written notice to seller shall
not be later than the 14th day after the date of the contract.
NOTICE OF NONAPPLICABILITY OF CERTAIN WARRANTIES
AND BUILDING AND PERFORMANCE STANDARDS
THE PROPERTY THAT IS SUBJECT TO THIS CONTRACT IS EXEMPT
FROM TITLE 16, PROPERTY CODE, INCLUDING THE PROVISIONS OF
THAT TITLE THAT PROVIDE STATUTORY WARRANTIES AND BUILDING
AND PERFORMANCE STANDARDS.
I ACKNOWLEDGE RECEIPT OF THIS DISCLOSURE REGARDING
NONAPPLICABILITY OF CERTAIN WARRANTIES AND BUILDING AND
PERFORMANCE STANDARDS AND SUCH DISCLOSURE HAS BEEN
DELIVERED TO ME BY SELLER PURSUANT TO TEX PR. CODE ANN.
§5.016(b).
______________________________
(Date)
______________________________
(BUYER’S SIGNATURE)
Comment: Pursuant to Tex Pr. Code Ann. §5.016(b), this notice shall be delivered to purchaser by seller on or before the
effective date of a binding executory contract. Note: If in the event an executor contract has been entered between the
seller and purchaser without this notice, the purchaser may terminate the executor contract for any reason on or before the
7th day after the date the purchaser receives the notice.
SELLER’S DISCLOSURE
CONVEYANCE OF RESIDENTIAL PROPERTY ENCUMBERED BY LIEN
(Texas Property Code §5.016)
WARNING: ONE OR MORE RECORDED LIENS HAVE BEEN FILED THAT MAKE A
CLAIM AGAINST THIS PROPERTY AS LISTED BELOW. IF A LIEN IS NOT RELEASED
AND THE PROPERTY IS CONVEYED WITHOUT THE CONSENT OF THE
LIENHOLDER, IT IS POSSIBLE THE LIENHOLDER COULD DEMAND FULL PAYMENT
OF THE OUTSTANDING BALANCE OF THE LIEN IMMEDIATELY. YOU MAY WISH TO
CONTACT EACH LIENHOLDER FOR FURTHER INFORMATION AND DISCUSS THIS
MATTER WITH AN ATTORNEY.
PROPERTY ADDRESS: ___________________________________
Lienholder: __________________________
Acct# _________________________
Address: ____________________________
Contact No.: ____________________
Contract Terms: ______________
Amount Owed: ________
Interest Rate: ______%
Installment Amount: ________
Lienholder consent to transfer of property to purchaser?
[ ] Yes
[ ] No
Is there an insurance policy on the property?
[ ] Yes
[ ] No
Insurance Policy Information (If Applicable)
Name of Insurer: ________________
Name of Insured: __________________
Policy No.: ____________________
Insured Amt: $_____________________
Amount of property taxes currently due on property: $_____________.
I ACKNOWLEDGE RECEIPT OF THIS DISCLOSURE.
______________________________
(Date)
______________________________
(BUYER’S SIGNATURE)
Comment: Note that pursuant to Tex Pr. Code Ann. §5.016(d), a disclosure violation is not actionable if the disclosing
party reasonably believes and takes any necessary action to ensure that each lien for which notice was not provided will be
released on or before the 30th day after the date on which title to the property is transferred.
SELLER’S DISCLOSURE OF FINANCING TERMS
PURCHASER: REGARDING THE PROPERTY AT
_____________________________________________________________,
(Address)
Pursuant to Tex Pr. Code Ann. §5.071, Seller hereby discloses, as required, the financial terms of the
contract:
1. The purchase price of the property: $____________________________
2. The interest rate charged under the contract: $____________________________
3. The dollar amount, or an estimate of the dollar amount if the interest rate is variable, of the interest
charged for the term of the contract: $____________________________
4. The total amount of principal and interest to be paid under the contract:
a. Principal amount:
$____________________________
b. Interest (from 3 above)
$____________________________
c. Late charges * (if any)
$____________________________
TOTAL
$____________________________
(principal + interest + applicable late charges)
* The late charge(s) which are assessed under the contract
NOTICE: Seller may not charge a prepayment penalty or any similar fee if purchaser elects to pay the
entire amount due under the contract before the scheduled payment date under the contract.
___________________________________
(Signature of Seller)
________________________
Date
___________________________________
(Signature of Purchaser)
________________________
Date
NOTICE OF MEMBERSHIP IN PROPERTY OWNERS' ASSOCIATION CONCERNING
THE PROPERTY
Seller of the property is subject to membership in a property owners association and comprises not
more than one dwelling unit located in this state hereby gives notice, pursuant to Tex Pr. Code Ann.
§5.012, of his/hers obligations related to such membership for the property located at:
_____________________________________________________________
(street address)
________________________________________________________________
(name of residential community)
As a purchaser of property in the residential community in which this property is located, you are
obligated to be a member of a property owners' association. Restrictive covenants governing the use
and occupancy of the property and a dedicatory instrument governing the establishment, maintenance,
and operation of this residential community have been or will be recorded in the Real Property Records
of the county in which the property is located, pursuant to CHP 209 Texas Residential Property
Owners Protection Act. Copies of the restrictive covenants and dedicatory instrument may be obtained
from the county clerk.
You are obligated to pay assessments to the property owners' association. The amount of the
assessments is subject to change. Your failure to pay the assessments could result in a lien on and the
foreclosure of your property.
______________________________
Date
_____________________________________
Signature of Purchaser
Comment: Pursuant to Tex Pr. Code Ann. §5.012(d) If an executory contract is entered between the
seller and purchaser without the seller providing notice, the purchaser may terminate the contract for
any reason within the seven days after the date the purchaser receives the notice or the date the
transfer occurs as provided by the executory contract, which ever date is earlier.
ORAL AGREEMENTS PROHIBITED
(TEX PR. Code ANN §5.072)
Both SELLER AND PURCHASER EXECUTORY CONTRACT REPRESENTS
THE FINAL AGREEMENT BETWEEN THE PARTIES HEREIN AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. ANY ORAL
NEGOTATIONS,
DISCUSSIONS,
REQUESTS,
AND
OTHER
UNDERSTANDINGS WITH RESPECT TO THE EXECUTORY CONTRACT
SHALL BE PROHIBITED.
______________________________
(Date)
______________________________
(SELLER’S SIGNATURE)
______________________________
(Date)
______________________________
(BUYER’S SIGNATURE)
NOTICE OF PROPERY CONDITION
(TO BE ATTACHED TO CONTRACT)
TEX PR. Code ANN. §5.069
For the property located at or described as follows:
____________________________________________________________________________
Buyer’s Name: ________________________
Seller’s Name: ________________________
WARNING
IF ANY OF THE ITEMS BELOW HAVE NOT BEEN CHECKED, YOU MAY NOT BE ABLE
TO LIVE ON THE PROPERTY.
SELLER'S DISCLOSURE NOTICE
CONCERNING THE PROPERTY AT: ________________________________________
THIS DOCUMENT STATES CERTAIN APPLICABLE FACTS ABOUT THE PROPERTY YOU
ARE CONSIDERING PURCHASING.
CHECK ALL THE ITEMS THAT ARE APPLICABLE OR TRUE:
[
[
[
[
]
]
]
]
[ ]
[ ]
[ ]
[ ]
The property is in a recorded subdivision.
The property has water service that provides potable water.
The property has sewer service.
The property has been approved by the appropriate municipal, county, or state agency for
installation of a septic system.
The property has electric service.
The property is not in a floodplain.
The roads to the boundaries of the property are paved and maintained by:
[ ] the seller;
[ ] the owner of the property on which the road exists;
[ ] the municipality;
[ ] the county; or
[ ] the state.
[ ] No individual or entity other than the seller:
1. Owns the property;
2. Has a claim of ownership to the property; or
3. Has an interest in the property.
No individual or entity has a lien filed against the property.
[ ]
There are no restrictive covenants, easements, or other title exceptions or encumbrances that
prohibit construction of a house on the property.
NOTICE: SELLER ADVISES PURCHASER TO:
1. OBTAIN A TITLE ABSTRACT OR TITLE COMMITMENT COVERING THE
PROPERTY AND HAVE THE ABSTRACT OR COMMITMENT REVIEWED
BY AN ATTORNEY BEFORE SIGNING A CONTRACT OF THIS TYPE; AND
2. PURCHASE AN OWNER'S POLICY OF TITLE INSURANCE COVERING THE
PROPERTY.
______________________________
(Signature of Buyer)
________________________
Date
______________________________
(Signature of Seller)
________________________
Date
SELLER'S DISCLOSURE NOTICE
(TO BE ATTACHED TO CONTRACT)
TEX PR. CODE ANN. §5.008
CONCERNING THE PROPERTY AT:
________________________________________________________
(Street Address and City)
THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE
PROPERTY AS OF THE DATE SIGNED BY SELLER AND IS NOT A SUBSTITUTE FOR ANY
INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH TO OBTAIN. IT IS NOT A
WARRANTY OF ANY KIND BY SELLER OR SELLER'S AGENTS.
ALL INFORMATION PROVIDED BY SELLER HEREIN ARE TO THE SELLER’S BEST BELIEF
AND KNOWLEDGE AS OF DATE WHEN THIS NOTICE HAS BEEN SIGNED BY SELLER
PURSUANT TO TEX PR. CODE ANN §5.008(d).
Seller _____ is _____ is not occupying the Property.
If unoccupied, how long since Seller has occupied the Property? __________________
1. The Property has the items checked below:
Write Yes (Y), No (N), or Unknown (U).
___Range
___Oven
___Microwave
___Dishwasher
___Trash Compactor
___Disposal
___Washer/Dryer Hookups
___Window Screens
___Rain Gutters
___Security System
___Fire Detection Equipment
___Intercom System
___TV Antenna
___Cable TV Wiring
___Satellite Dish
___Ceiling Fan(s)
___Attic Fan(s)
___Exhaust Fan(s)
___Central A/C
___Central Heating
___Wall/Window A/C
___Plumbing System
___Septic System
___Public Sewer System
___Patio/Decking
___Outdoor Grill
___Fences
___Pool
___Sauna
___Spa ___Hot Tub
___Pool Equipment
___Pool Heater
___Automatic Lawn Sprinkler
System
___Fireplace(s) & Chimney
(Woodburning)
___Fireplace(s) & Chimney
(Mock)
___Gas Lines (Nat./LP)
___Gas Fixtures
Garage: ___Attached
___Not Attached
___Carport
Garage Door Opener(s):
___Electronic
___Control(s)
Water Heater:
___Gas
___Electric
___Well ___MUD
___Co-op
Water
Water Supply:___City
Roof Type _______________________________
Age: ___ (approx)
Are you (Seller) aware of any of the above items that are not in working condition, that have known
defects, or that are in need of repair? _____ Yes _____ No _____ Unknown.
If yes, then describe. (Attach additional sheets if necessary):
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
2. Are you (Seller) aware of any known defects/malfunctions in any of the following?
Write Yes (Y) if you are aware, write No (N) if you are not aware.
___Interior Walls
___Ceilings
___Floors
___Exterior Walls
___Doors
___Windows
___Roof
___Foundation/Slab(s)
___Basement
___Walls/Fences
___Driveways
___Sidewalks
___Plumbing/Sewers/Septics
___Electrical Systems
___Lighting Fixtures
_____ Other Structural Components (Describe): _____________________________________
____________________________________________________________________________
____________________________________________________________________________
If the answer to any of the above is yes, explain. (Attach additional sheets if necessary):
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
3. Are you (Seller) aware of any of the following conditions?
Write Yes (Y) if you are aware, write No (N) if you are not aware.
___Active Termites (includes wood-destroying
insects)
___Previous Structural or Roof Repair
___Termite or Wood Rot Damage Needing Repair ___Hazard or Toxic Waste
___Previous Termite Damage
___Asbestos Components
___Previous Termite Treatment
___Urea formaldehyde Insulation
___Previous Flooding
___Radon Gas
___Improper Drainage
___Lead Based Paint
___Water Penetration
___Aluminum Wiring
___Located in 100-Year Floodplain
___Previous Fires
___Present Flood Insurance Coverage
___Unplatted Easements
___Landfill, Settling, Soil Movement, Fault Lines
___Subsurface Structure or Pits
If the answer to any of the above is yes, explain. (Attach additional sheets if necessary):
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
4. Are you (Seller) aware of any item, equipment, or system in or on the property that is in need
of repair? _____ Yes (if you are aware) _____ No (if you are not aware). If yes, explain (attach
additional sheets as necessary). _________________________________________________
5. Are you (Seller) aware of any of the following?
Write Yes (Y) if you are aware, write No (N) if you are not aware.
_____ Room additions, structural modifications, or other alterations or repairs made without necessary
permits or not in compliance with building codes in effect at that time.
_____ Homeowners' Association or maintenance fees or assessments.
_____ Any "common area" (facilities such as pools, tennis courts, walkways, or other areas) co-owned
in undivided interest with others.
_____ Any notices of violations of deed restrictions or governmental ordinances affecting the
condition or use of the Property.
_____ Any lawsuits directly or indirectly affecting the Property.
_____ Any condition on the Property which materially affects the physical health or safety of an
individual.
If the answer to any of the above is yes, explain. (Attach additional sheets if necessary):
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
6. If the property is located in a coastal area that is seaward of the Gulf Intracoastal Waterway or
within 1,000 feet of the mean high tide bordering the Gulf of Mexico, the property may be
subject to the Open Beaches Act or the Dune Protection Act (Chapter 61 or 63, Natural
Resources Code, respectively) and a beachfront construction certificate or dune protection
permit may be required for repairs or improvements. Contact the local government with
ordinance authority over construction adjacent to public beaches for more information.
______________________________
Date
______________________________
Signature of Seller
The undersigned purchaser hereby acknowledges delivery and receipt of the foregoing notice pursuant
to TEX PR. Code ANN. §5.008(f) in part.
______________________________
Date
______________________________
Signature of Purchaser
Comment: Pursuant to TEX PR. Code ANN. §5.008(c), Seller or its agent does not have to make such
disclosure or release of information related to any deaths that has or have occurred on the property,
unrelated conditions of the property, where such death by a pervious occupant had, may have had, or
may have AIDS or HIV related illness or infection.
ABOUT TEXAS DISCLOSURES

Seller’s Disclosure Notice (Tex Pr. Code Ann. §5.008)
Delivered by the seller to the purchaser on or before the effective date of an executory contract binding the purchaser to
purchase the property.

Notice Regarding Possible Liability For Additional Taxes (Tex Pr. Code Ann. §5.010)
For the sale of vacant land: Seller must include in the contract the following bold-faced notice… Include in contract as
stipulated.

Seller's Disclosure Regarding Potential Annexation (Tex Pr. Code Ann. §5.011)
Delivered by the seller to the purchaser before the date the executory contract binds the purchaser to purchase the
property.

Membership In A Property Owners Association (Tex Pr. Code Ann. §5.012)
For residential real property that is subject to membership in a property owners’ association and that comprises not
more than one dwelling unit located in the state of Texas.
Delivered by the seller to the purchaser before the date the executory contract binds the purchaser to purchase the
property.

Disclosure of Location of Conditions Under Surface of Unimproved Real Property (Tex Pr. Code Ann. §5.013)
For the sale of unimproved real property to be used for residential purposes. If the information required to be disclosed
is not known to the seller, the seller shall indicate that fact in the notice.
Delivered by the seller to the purchaser on or before the effective date of an executory contract binding the purchaser to
purchase the property.

Notice of Property Condition (Tex. Pr. Code Ann. §5.069)*
Delivered by the seller to the purchaser before an executory contract is signed by the purchaser. This notice must be
filed with the executory contract on or before the 30th day after the date the contract is executed. In addition, if the
executory contract is terminated for any reason, the seller shall record the instrument that terminates the contract. See
note below for applicability of this disclosure.

Notice of Cancellation (Tex Pr. Code Ann. §5.074)*
Seller must provide a notice of cancellation form to the purchaser at the time the purchaser signs the executory
contract. Purchaser may cancel and rescind an executory contract for any reason by sending by telegram or certified
or registered mail, return receipt requested, or by delivering in person a signed, written notice of cancellation to the
seller not later than the 14th day after the date of the contract.

Seller's Disclosure of Tax Payments and Insurance Coverage (Tex Pr. Code Ann. §5.070)*
Delivered, together with stipulated documentation, by seller to purchaser before an executory contract is signed by the
purchaser.

Seller’s Disclosure of Financing Terms (Tex Pr. Code Ann. §5.071)*
Delivered by seller to purchaser before an executory contract is signed by the purchaser.

Seller’s Disclosure of Conveyance of Residential Property Encumbered by Lien (Tex Pr. Code Ann. §5.016)
On or before the seventh day before the earlier of the effective date of the conveyance or the execution of an executory
contract binding the purchaser to purchase the property, an option contract, or other contract, the person provides the
purchaser and each lienholder a separate written disclosure statement.

Oral Agreements Prohibited (Tex Pr. Code Ann. §5.072): Include in a separate document or in a provision of the
contract a statement printed in 14-point boldfaced type or 14-point uppercase typewritten letters.

Lead Paint Notice [Federal Requirement (EPA and HUD)]
Must be provided to renters or buyers of pre-1978 housing before renovations.

Lead Paint Pamphlet [Federal Requirement (EPA and HUD)]
Must be provided to renters or buyers of pre-1978 housing before renovations.
*NOTE: Use the identified disclosure for:
1.
An executory contract for conveyance of real property used or to be used as the purchaser's residence or as the
residence of a person related to the purchaser AND
2.
That provides for the delivery of a deed from the seller to the purchaser more than 180 days of the date of the
final execution of the executory contract.
SELLER’S DISCLOSURE OF TAX PAYMENTS AND INSURANCE COVERAGE
Tex Pr. Code Ann. §5.070
PURCHASER: REGARDING THE PROPERTY AT
_____________________________________________________________
(Address)
please find attached the following:
1.
A tax certificate from the collector for each taxing unit that collects taxes due on the
property as provided by Section 31.08, Tax Code; and
2.
A legible copy of any insurance policy/policies or binder(s) relating to the property.
Please verify that any applicable copy attached indicates:
a. the name of the insurer and the insured;
b. a description of the property insured; and
c. the amount for which the property is insured.
I ACKNOWLEDGE DELIVERY AND RECEIPT OF THIS DISCLOSURE OF TAX
PAYMENTS AND INSURANCE COVERAGE, PURUSANT TO TEX PR. CODE ANN.
§5.070(a) AND RECEIPT OF THE DOCUMENTS SPECIFIED HEREIN.
______________________________
(Date)
______________________________
(BUYER’S SIGNATURE)
Comments: Note failure of seller to provide the above information entitles the purchaser to cancel
and rescind the executor contract and receive a full refund of all payment made to the seller, pursuant
to Tex Pr. Code Ann. §5.070(b)(2). In addition legal action can sought under false, misleading or
deceptive business practices under Tex Bus. & Comm Code §17.46.
Disclosure of Location of Conditions Under Surface of Unimproved Real Property
Tex Pr. Code Ann. §5.013
Buyer, the property located at
_________________________________________________________________________
(address)
is unimproved real property. Seller hereby provides Buyer the following disclosure:
To the best of the seller's belief and knowledge:
a. [ ] The location of transportation pipelines, including pipelines for the transportation of natural
gas, natural gas liquids, synthetic gas, liquefied petroleum gas, petroleum or a petroleum
products, or any hazardous substances or waste* known to Seller to the best of Seller’s belief
and knowledge are as follows:
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
b. [ ] Seller has no information concerning the location of transportation pipelines, including
pipelines for the transportation of natural gas, natural gas liquids, synthetic gas, liquefied
petroleum gas, petroleum or a petroleum products, or any hazardous substances or waste*.
* “Hazardous substance” and “hazardous waste” shall have the meaning as defined under Texas Health
and Safety Code §361.003.
The Purchaser acknowledges and delivery and receipt of this notice of Seller’s Disclosure of Location
of Conditions Under Surface of Unimproved Real Property, Pursuant to Tex Pr. Code Ann. §5.013(c).
______________________________
Date
_____________________________________
Signature of Purchaser
http://www.legal-forms-kit.com
Email [email protected]
Thank you for purchasing our Texas Real Estate Home Package.
Package# Texas Home Purchase Forms
Contents:
1. Texas Real Estate Sales Contract
2. Texas Promissory Note
3. Texas Real Estate Power of Attorney
4. Texas Offer to Purchase Real Estate
5. Texas Counter Offer Real Estate
6. Texas lead Paint Pamphlet
7. Texas Disclosure Annexation
8. Texas Disclosure Cancellation
9. Texas Disclosure Certain Warranties
10. Texas Disclosure Encumbered Lien
11. Texas Disclosure Financing Terms
12. Texas Disclosure HOA
13. Texas Disclosure Oral Agreements
14.
15.
16.
17.
18.
19.
Texas Disclosure Property Condition Texas Disclosure Seller Notice Texas Disclosure Read Me Texas Disclosure Tax Insurance Texas Disclosure Unimproved Property Lead Paint Disclosure Form Descriptions: 1. Sales Contract: A real estate sales agreement is a formal written contract made between a homebuyer and seller. The document includes property address, condition, purchase price, inspections, date of closing, date of possession and more. 2. Offer to Purchase Real Estate: A formal document in which a buyer proposes to purchase a property for a specified amount and under certain conditions. Acceptance by the seller creates a contract binding on both parties, subject to any contingencies. 3. Promissory Note: The binding legal document that must be signed by the borrower before loan funds are disbursed by the lender. The promissory note states the terms and conditions of the loan, including interest rate, and cancellations. The borrower should keep this document until the loan has been repaid. 4. Counter Offer: An offer made in response to a previous offer by the other party during negotiations for a final contract. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract. Example: Susan Seller offers to sell her house for $150,000, to be paid in 60 days; Bruce Buyer receives the offer and gives Seller a counter offer of $140,000, payable in 45 days. The original offer is dead, despite the shorter time for payment since the price is lower. Seller then can choose to accept at $140,000, counter again at some compromise price, reject the counter offer, or let it expire. 5. Power of Attorney: A legal document that grants the power of one individual to act on behalf of another. 6. Disclosures: A very important term in both real estate and mortgage transactions. It is required by statute and should not be overlooked. For real estate it means: Disclosing all known facts that materially affect the value of a residential real property and are not readily observable to the buyer. For mortgages it means: Disclosing all known facts that affect your ability to obtain a home loan. In both cases, if you’re not sure, always disclose. DISCLAIMER THE INFORMATION, SERVICES, PRODUCTS AND MATERIALS CONTAINED IN THESE DOUCUMENTS AND FORMS, INCLUDING, WITHOUT LIMITATION, TEXT, GRAPHICS AND LINKS, ARE PROVIDED ON AN "AS IS" BASIS WITH NO WARRANTY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, legal‐forms‐kit.com, INC. DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO SUCH INFORMATION, SERVICES, PRODUCTS, AND MATERIALS, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NONINFRINGEMENT, FREEDOM FROM COMPUTER VIRUS, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. IN ADDITION, legal‐forms‐kit.com, INC. DOES NOT REPRESENT OR WARRANT THAT THE INFORMATION ACCESSIBLE VIA THIS SITE IS ACCURATE, COMPLETE OR CURRENT.