Texas real estate earnest money contract form

The land, improvements, accessories and crops are collectively referred to as the "Property". The following permanently installed and built-in items, if any: The house, garage, and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: The following described related accessories: The following described related accessories, if any: Unless otherwise agreed in writing, Seller has the right to harvest all growing crops until delivery of possession of the Property.

The following improvements, accessories, and crops will be retained by Seller and excluded: Seller reserves the following mineral, water, royalty, timber, or other interests: Cash portion of Sales Price payable by Purchaser at closing Sales Price Sum of A and B The Sales Price [ check one: The portion of Sales Price not payable in cash will be paid as follows: If the Property does not satisfy the lenders' underwriting requirements for the loan sthis contract will terminate and the earnest money will be refunded to Purchaser.

The assumption of the unpaid principal balance of one or more promissory notes described in the attached Loan Assumption Addendum. If an owner policy of title insurance is furnished, Purchaser shall furnish Seller with a mortgagee policy of title insurance. If Purchaser fails to deposit the earnest money as required by this contract, Purchaser will be in default. Seller shall furnish to Purchaser at [ check one: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Purchaser a commitment for title insurance Commitment and, at Purchaser's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment Exception Documents other than the standard printed exceptions.

Seller authorizes the Title Company to mail or hand deliver the Commitment and Exception Documents to Purchaser at Purchaser's address shown in Paragraph If the Commitment and Exception Documents are not delivered to Purchaser within the specified time, the time for delivery will be automatically extended up to 15 days or the Closing Date, whichever is earlier.

The survey must be made by a registered professional land surveyor acceptable to the Title Company and any lender. The existing Survey [ check one: If the existing survey is not approved by the Title Company or Purchaser's lender, a new survey will be obtained at the expense of [ check one: Seller shall cure the timely objections of Purchaser or any third party lender within 15 days after Seller receives the objections and the Closing Date will be extended as necessary.

If objections are not cured within such 15 day period, this contract will terminate and the earnest money will be refunded to Purchaser unless Purchaser waives the objections. Prior to the execution of the contract, Seller has provided Purchaser with copies of the Exception Documents listed below or on the attached exhibit. Matters reflected in the Exception Documents listed below or on the attached exhibit will be permitted exceptions in the Title Policy and will not be a basis for objection to title:.

The following Leases will be permitted: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, state law may require Seller to deliver and Purchaser to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract.

Consult with an attorney if you are unclear on this requirement. If the Property abuts the tidally influenced waters of the state, state law may require a notice regarding coastal area property to be included in the contract. An addendum containing the notice promulgated by the state or required by the parties must be used. If the Property is located outside the limits of a municipality, Seller notifies Purchaser under that 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. If the Property is located in a certificated service area of a utility service provider and the Property does not receive water or sewer service from the utility service provider on the date the Property is transferred, state law may require a notice regarding the cost of providing water or sewer services to the Property. The Property [ check one: Purchaser may have the Property inspected by inspectors selected by Purchaser and licensed by the state or otherwise permitted by law to make inspections.

Seller shall pay for turning on existing utilities for inspections. If Purchaser does not receive the Notice, Purchaser may terminate this contract at any time prior to the closing and the earnest money will be refunded to Purchaser. If Seller delivers the Notice, Purchaser may terminate this contract for any reason within 7 days after Purchaser receives the Notice or prior to the closing, whichever first occurs, and the earnest money will be refunded to Purchaser.

Unless otherwise agreed in writing, Seller shall complete all agreed repairs prior to the Closing Date. All required permits must be obtained, and repairs must be performed by persons who are licensed or otherwise permitted by law to provide such repairs. If Seller fails to complete any agreed repairs prior to the Closing Date, Purchaser may do so and receive reimbursement from Seller at closing. The Closing Date will be extended up to 15 days, if necessary, to complete repairs.

Unless otherwise agreed in writing, neither party is obligated to pay for lender required repairs, which includes treatment for wood metatrader stocks insects. If the parties do not agree to pay for the lender required repairs or treatments, this contract will terminate and the earnest money will be refunded to Purchaser.

If Purchaser is concerned about these matters, an addendum promulgated by the state or required by the parties should be used. Except as otherwise disclosed in this contract, Forex trading chart reading has no knowledge of the following:. Purchaser binary option small deposit purchase a residential service contract from a residential service company licensed by the state.

Purchaser should review stock market 1-18-08 download residential service contract for the scope of coverage, exclusions and limitations.

The purchase of a residential service contract is optional. Similar coverage may be purchased from various companies authorized to do business in the state. The Property is subject to the government programs listed below or on the attached exhibit:. Seller shall xforex binary options trading 60 seconds Purchaser with copies of all governmental program agreements.

Any allocation or proration of payment under governmental programs is made by separate agreement between the parties which will survive closing.

If either party fails to close the sale by the Closing Date, the non-defaulting party may exercise the remedies contained in Paragraph Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers.

Seller shall deliver to Purchaser possession of forex japanese yen to philippine peso Property in its present or required condition, ordinary wear and tear excepted: Any possession by Purchaser prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties.

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Consult your insurance agent prior to change of ownership or possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may expose the parties to economic loss. Insert only factual statements and business details applicable to the sale.

State regulations may prohibit licensees from adding factual statements or business details for which a contract addendum or other form has been promulgated by the state for mandatory use. Purchaser shall pay Private Mortgage Insurance Premium PMIVA Loan Funding Fee, or FHA Mortgage Insurance Premium MIP as required by the lender. If any expense exceeds an amount expressly stated in this contract for such expense how to calculate margin in forex trading be paid by a party, that party may terminate this contract unless the other party agrees to pay such excess.

Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Purchaser shall pay taxes for the current year. Rentals which are unknown at time of closing will be prorated between Purchaser and Seller when they become known.

Obligations imposed by this paragraph will survive closing. If any part of the Property is damaged or destroyed by fire or other casualty after the effective date of this contract, Seller shall restore globalbank.com-forex exchange rates Property to its previous condition as soon as reasonably possible, but in any event by the Closing Date. If Purchaser fails to comply with this contract, Purchaser will be in default, and Seller may a enforce specific performance, seek such other relief as may be provided by law, or both, or b terminate this contract and receive the earnest money as liquidated damages, thereby releasing both parties from this contract.

If Seller fails to comply with this contract for any other reason, Seller will be in default and Purchaser may a enforce specific performance, seek such other relief as may be provided by law, or both, or b terminate this contract and receive the earnest money, thereby releasing both parties from this contract. The parties to the mediation shall bear the mediation costs equally.

This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. The escrow agent is not a a party to this contract and does not have liability for the performance or nonperformance of any party to this contract, b liable for interest on the earnest earn money from clicking ads and c liable for the loss of any earnest money caused by the failure of any financial institution in which the earnest money has been deposited unless the financial institution is acting as escrow agent.

At closing, the earnest money must be texas real estate earnest money contract form first to any cash down payment, then to Purchaser's Expenses and any excess refunded to Purchaser. If both parties make written demand for the earnest money, escrow agent may require payment of unpaid expenses incurred on behalf of the parties and a written release of liability of escrow agent from all parties.

If one party makes written demand for the earnest money, escrow agent shall give notice of the demand by providing to the other party a copy of the demand. If escrow agent does not receive written objection to the demand from the other party within 30 days after notice to the other party, escrow agent may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors.

If escrow agent complies with the provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest money. Escrow agent's notice to the other party will be effective when deposited in the U. Mail, postage prepaid, certified mail, return receipt requested, addressed to the other party at such party's address shown below.

Real Estate Purchase Contract (Farm and Ranch) - Legal Form

Notice of objection to the demand will be deemed effective upon receipt by escrow agent. Seller represents that as of the Closing Date a there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of any loans assumed by Purchaser and b assumed loans will not be in default.

If any representation of Seller in this contract is untrue on the Closing Date, Purchaser may terminate this contract and the earnest money will be refunded to Purchaser. If Seller is a "foreign person," as defined by applicable law, or if Seller fails to deliver an affidavit to Purchaser that Seller is not a "foreign person," then Purchaser shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms.

Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts is received in the transaction. All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile as follows:.

This contract contains the entire agreement of the parties and cannot be changed except by their written agreement. Addenda which are a part of this contract are check all applicable boxes:.

Earnest Money | Legal FAQs for REALTORS® | For Texas REALTORS® | Texas Association of REALTORS

This paragraph will be a part of this contract ONLY if both blanks are filled in and Purchaser has paid the Option Fee. If Purchaser gives notice of termination within the time specified, the Option Fee will not be refunded, however, any earnest money will be refunded to Purchaser. The Option Fee [ check one: For the purposes of this paragraph, time is of the essence; strict compliance with the time for performance stated herein is required.

Real estate licensees cannot give legal advice.

READ THIS CONTRACT CAREFULLY. If you do not understand the effect of this contract, consult an attorney BEFORE signing. See the terms and conditions for this offer for further information. ILRG guarantees your complete satisfaction with your purchase. If you are not percent satisfied after purchasing from us, contact us for a full refund. As an attorney that practices for many clients, your site is great. Your customer service has been excellent. We are a small business, and the cost to have an attorney draw up this agreement is hard on a small business.

This form serves our purpose well. Select State Alabama Alaska All States Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming All States.

A product of the Internet Legal Research Group ILRG. REAL ESTATE PURCHASE CONTRACT FARM AND RANCH. Sum of all financing described below excluding any loan funding fee or mortgage insurance premium TITLE POLICY AND SURVEY: Matters reflected in the Exception Documents listed below or on the attached exhibit will be permitted exceptions in the Title Policy and will not be a basis for objection to title: Prior to the execution of the contract, Seller has provided Purchaser with copies of written leases and given notice of oral leases Leases listed below or on the attached exhibit.

Except as otherwise disclosed in this contract, Seller has no knowledge of the following: The Property is subject to the government programs listed below or on the attached exhibit: All covenants, representations and warranties in this contract survive closing.

The following expenses must be paid at or prior to closing: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile as follows: Addenda which are a part of this contract are check all applicable boxes: Other Forms You May Need Back-Up Contract Addendum for Real Estate Purchase Temporary Residential Lease Occupied by Seller Temporary Residential Lease Occupied by Purchaser Seller's Disclosure of Property Condition Exclusive Right to Sell.

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