Residential Sales Contract Review
Most residential transactions in Texas are completed using the TREC 1-4 Residential Contract for Resale. Other popular TREC forms include the Residential Condominium Contract for Resale and the New Home Contract for completed construction. All of these forms are promulgated by the Texas Real Estate Commission. All license holders licensed under TREC must use these promulgated forms or forms drafted by an attorney in Texas.
Negotiating real estate transactions allows the opportunity for a buyer or seller to gain certain benefits in the transaction. Unlike brokers and real estate agents, attorneys can modify the actual language of the form and draft special provisions and addenda as part of the contract. Realtors are limited to simply filling in the blanks. Some of the common issues and adjustments made by real estate attorneys to the residential sales contract include:
- "As Is" Language
- Providing Survey "As Is"
- Eliminating Specific Performance
- Seller Financing Terms
- Revocation of Offer Deadline
- Appraisal Contingencies
Using a real estate lawyer to provide contract review in residential transactions can greatly benefit a buyer or seller in a transaction. Often times, an attorney can do a contract review at an affordable flat rate. Feel free to use the form on the right to request a free consultation with a lawyer or call our office during regular business hours.