TREC 23-13 2014-2024 free printable template
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Trec.texas. gov TREC NO. 23-13. This form replaces TREC NO. 23-12. BROKER INFORMATION Print name s only. Contract Concerning EQUAL HOUSING OPPORTUNITY Page of 9 4-28-2014 PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION TREC Address of Property NEW HOME CONTRACT Incomplete Construction NOTICE Not For Use For Condominium Transactions or Closings Prior to Completion of Construction 1. PARTIES The parties to this contract are Seller and Buyer. Seller agrees to sell and convey to Buyer and Buyer...
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How to fill out trec new contract form
How to fill out TREC new contract:
01
Read the contract thoroughly: Before filling out the TREC new contract, it is essential to read it carefully. Understand the terms and conditions mentioned in the contract to ensure accurate and complete filling.
02
Gather all necessary information: Collect all the required information before starting the form filling process. This may include details about the parties involved, property information, purchase price, closing date, and any additional terms or conditions.
03
Complete the contract sections: The TREC new contract consists of various sections, such as parties, property description, financing terms, special provisions, and more. Fill out each section accurately and provide all the requested information.
04
Consult an expert if needed: If you encounter any confusion or have questions while filling out the TREC new contract, it is advisable to seek professional advice from a real estate agent, attorney, or broker. They can guide you through the process and ensure compliance with local laws and regulations.
05
Review and double-check: Once you have completed filling out the TREC new contract, take the time to review the document thoroughly. Double-check all the information provided to ensure accuracy and avoid any potential errors or omissions.
06
Sign and distribute: After reviewing the contract and ensuring all information is correct, sign the document and distribute copies to all relevant parties involved, such as buyers, sellers, agents, and attorneys.
Who needs TREC new contract?
01
Real estate agents: Real estate agents need the TREC new contract to facilitate the transaction between buyers and sellers. It serves as a legally binding agreement that outlines the terms and conditions of the sale or purchase of a property.
02
Buyers and sellers: Buyers and sellers of real estate properties need the TREC new contract to formalize their agreement and ensure legal protection. This contract provides clarity on the rights, responsibilities, and obligations of both parties throughout the transaction.
03
Attorneys: Attorneys involved in real estate transactions may require the TREC new contract to review, negotiate, or make changes based on their client's specific needs. They play a crucial role in ensuring the contract's legality and protecting their client's interests.
04
Brokers: Brokers, who act as intermediaries between buyers and sellers, also need the TREC new contract. They use this contract to properly document the terms of the transaction and ensure compliance with state regulations.
05
Lenders: In some cases, lenders may require the TREC new contract to be completed before approving a mortgage loan or financing for the property. This helps them understand the terms of the purchase and assess any potential risks associated with the transaction.
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What is trec new contract?
TRECs (Texas Real Estate Contracts) are standardized forms established by the Texas Real Estate Commission (TREC), which is the governing body for real estate transactions in Texas. These contracts are used to outline the terms and conditions of a real estate transaction, including the purchase, sale, or lease of a property. The TREC New Contract refers to the most recent version of the contracts introduced by TREC to ensure consistency and clarity in real estate transactions. It is important for buyers, sellers, and real estate agents in Texas to be familiar with these contracts to ensure a smooth and legally compliant transaction.
Who is required to file trec new contract?
The Texas Real Estate Commission (TREC) requires real estate license holders to file new contracts. This includes real estate brokers, sales agents, and other licensed professionals involved in real estate transactions.
How to fill out trec new contract?
To fill out the TREC (Texas Real Estate Commission) new contract, you can follow these steps:
1. Obtain the TREC new contract form from the official TREC website or from your real estate agent.
2. Read through the entire contract form carefully to ensure you understand its contents.
3. Provide the necessary information in the required fields. These fields typically include:
- Parties: Enter the names of the parties involved, such as the buyer's and seller's names, their addresses, phone numbers, etc.
- Property details: Fill out the details of the property being bought or sold, such as the address, legal description, and any other relevant information.
- Sales price and financing: Enter the agreed-upon sales price of the property and indicate the financing terms (if applicable).
- Earnest money: Specify the amount of earnest money being deposited and the details of the escrow account where it will be held.
- Closing date: Determine and indicate the agreed-upon closing date.
- Contingencies: Mention any contingencies that are part of the contract, such as financing contingencies, inspection contingencies, etc.
- Special provisions: If there are any additional provisions or special conditions agreed upon by the parties, include them in this section.
- Signatures: Make sure all parties involved, including the buyer, seller, and any agents or attorneys, sign the contract at the appropriate places.
4. Review the completed contract form to ensure accuracy and completeness.
5. Provide copies of the contract to all parties involved, including yourself, the buyer, the seller, and any relevant real estate agents or attorneys.
6. Retain a copy of the fully executed contract for your records.
Remember, it is always advisable to consult with a real estate professional or attorney to ensure the contract is filled out correctly and in accordance with local laws and regulations.
What is the purpose of trec new contract?
The purpose of the TREC (Texas Real Estate Commission) new contract is to provide a standardized and legally binding agreement between buyers and sellers in a real estate transaction. It ensures that both parties are protected and have a clear understanding of their rights and obligations. The contract covers various aspects of the transaction, such as the sale price, closing date, financing terms, contingencies, and disclosures. It helps to streamline the buying and selling process and provide a framework for a smooth and fair transaction.
What information must be reported on trec new contract?
When filling out a new contract with the Texas Real Estate Commission (TREC), there are several pieces of information that must be reported. These include:
1. Parties involved: The full legal names and addresses of both the buyer and the seller, as well as any additional parties involved in the transaction, such as agents or intermediaries.
2. Property address: The complete physical address of the property being bought or sold.
3. Sales price and financing details: The agreed-upon sales price and any financing terms, such as the amount of down payment, loan amount, interest rate, and terms of the loan.
4. Earnest money: The amount of earnest money being deposited, including the form of payment and instructions for its handling.
5. Title information: Any title insurance requirements or specific instructions regarding title commitment, including the deadline for obtaining it and any special provisions.
6. Closing and possession dates: The agreed-upon date for closing the transaction, as well as the date the buyer will take possession of the property.
7. Disclosures: Any required disclosures, such as the lead-based paint disclosure, seller's disclosure of property condition, or any other mandatory disclosures as per Texas law.
8. Special provisions and contingencies: Any special provisions or conditions, such as repair negotiations, inspections, or seller concessions, that are part of the contract.
9. Financing and appraisal contingencies: Specific conditions that must be met regarding the buyer's financing approval and property appraisal.
10. Signatures and execution: The signatures of all parties involved in the contract, including the date of execution.
It is important to note that this is a general overview, and the specific requirements may vary depending on the type of transaction and any additional addendums or provisions included in the contract. It is always advisable to consult with a real estate professional or attorney familiar with TREC contracts for accurate guidance.
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