Need help understanding Texas real estate contracts? Look no further!
Below are explanations of a fraction of the promulgated contracts that Texas Realtors use (by my count, there are 253 forms).
Residential Sales Contracts
Contracts for Buyers AND Sellers
The Contract (TAR 16-01: 1-4 Family Residential Contract)
- Paragraphs 1 – 2: Parties and Property
- Paragraph 3 – 4: Sales Price and Disclosure
- Paragraph 5: Earnest Money
- Paragraph 6: Title Policy and Survey
- Paragraph 7: Property Condition
- Paragraph 8: Brokers Fees
- Paragraph 9: Closing
- Paragraph 10: Possession
- Paragraph 11: Special Provisions
- Paragraph 12 – 13: Closing Costs
- Paragraph 14 – 21: Lawsuits, Property Damage, and Escrow
- Paragraph 22: Addenda
- Paragraph 23: Termination Option (Option Period)
- Paragraph 24: Signature and Execution
Third Party Financing Addendum (TREC40-7) (Coming Soon!)
Non-Realty Items Addendum to Contract (TAR-1924) (Coming Soon!)
Seller’s Temporary Lease (TAR-1910) (TREC15-5) (Coming Soon!)
Buyer’s Temporary Lease (TAR-1911) (TREC16-5) (Coming Soon!)
Notices
The following are not contracts but notices and information
Information About Brokerage Services (TAR-2501) (Coming Soon!)
Seller’s Disclosure Notice (TAR -1406) (TRECOP-H) (Coming Soon!)
Addendum for Seller’s Disclosure of Lead Based Paint (TAR-1906) (TRECOP-L) (Coming Soon!)
Intermediary Relationship Notice (TAR-1409) (Coming Soon!)
Information about Property Insurance for a Buyer or Seller (TAR-2508) (Coming Soon!)
Information About Mineral Clauses in Contract Forms (TAR-2509) (Coming Soon!)
Contracts JUST for Buyers
The Buyer’s Representation Agreement (TAR-1501: Residential Buyer/Tenant Representation Agreement) (Coming Soon!)
Authorization to Furnish TILA-RESPA Integrated Disclosures (TAR-2516) (Coming Soon!)
Notices
The following are not contracts but notices and information
For Your Protection Get a Home Inspection (TAR-1928) (Coming Soon!)
Protecting Your Home from Mold (TAR-2507) (Coming Soon!)
General Information and Notice to a Buyer (TAR-1506) (Coming Soon!)
Contracts JUST for Sellers
The Listing Agreement (TAR-1101: Residential Real Estate Listing Agreement Exclusive Right to Sell)
- Paragraphs 1 – 2: Parties and Property
- Paragraph 3: Price (Coming Soon!)
- Paragraphs 4 – 6: Term, Commission and Services (Coming Soon!)
- Paragraph 7: Access to the Property (Coming Soon!)
- Paragraphs 8 – 9: Cooperation and Intermediary (Coming Soon!)
- Paragraphs 10 – 11: Confidentiality and Authorizations (Coming Soon!)
- Paragraphs 12 – 13: Seller’s Responsibilities (Coming Soon!)
- Paragraphs 14 – 21: The “Fine Print” and Signatures (Coming Soon!)
Seller’s Authorization to Release and Advertise Certain Information (Coming Soon!)
Notices
The following are not contracts but notices and information
Seller’s Estimated Net Proceeds (TAR-1935) (Coming Soon!)
Residential Listing Checklist (TAR-1415) (Coming Soon!)
Be Warned!
Note: The Texas Association of Realtors and TREC update promulgated forms regularly. For the most recent updates, check with TAR, TREC, or contact me at brian@starpointerealty.com.
Note: I am a real estate professional, not a lawyer. Nothing herein should be construed as legal advice or instructions.
This is only a partial list of the contracts and documents most commonly used in residential real estate transactions for our area, Fort Hood, TX.
TAR Contracts are proprietary documents for the Texas Association of Realtors, and as such cannot be used except by members of TAR (Realtors).
The best thing to do if you are a buyer or seller, or thinking about being a buyer or seller, is to hire a real estate agent who is trained on these contracts, can understand your specific circumstances and needs, and has a fiduciary obligation to serve you, their client.