As detailed as this video is, it is not meant to be comprehensive and still only covers a fraction of what you need to know when using the 1-4 family residential resale contract promulgated by the Texas Real Estate Commission.
To discuss negotiating techniques and best practices of how to use this contract, please call our office to talk with an expert Realtor today.
As with any legal document or major decision, it's always best to consult an attorney for legal advice, don't rely on this video:
(for time stamps for each paragraph, scroll down below the video)
TREC 1-4 Residential Resale Contract (20-13) explained one paragraph at a time, line by line. This is the best and most comprehensive Texas real estate contract tutorial you can find. See time stamps below to jump directly to any section of the contract. Please like this video and share. Please comment, like, share, or contact us at http://www.chandlercrouch.com
See below for time stamp of each paragraph:
What is covered in this video 0:08
When to use and when not to use 1:15
Why it's important to learn 3:04
Mindset 4:40
How to use the contract 7:05
Why Words Matter 9:21
Addendum vs Amendment 10:15
General information about the contracts 11:31
Overview 14:09
Contract Changes: 15:28
1. Parties 18:41
2. Property 23:58
3. Sales Price 28:00
4. License Holder Disclosure 33:08
5. Earnest Money 34:05
6. Title Policy and Survey 38:28
6. C. Survey 45:35
6. D. Objections 51:00
6. E. Title Notices 54:17
7. Property Condition 1:01:25
7. B. Seller's Disclosure Notice 1:03:32
7. H. Residential Services Contracts 1:12:27
8. Brokers' Fees 1:15:00
9. Closing 1:15:29
10. Possession 1:17:24
11. Special Provisions 1:21:10
12. Settlement and other Expenses 1:23:48
13. Prorations 1:30:33
14. Casualty Loss 1:32:20
15. Default 1:32:44
16. Mediation 1:34:35
17. Attorney's Fees 1:35:25
18. Escrow 1:35:36
19. Representations 1:40:37
20. Federal Tax Requirements 1:41:13
21. Notices 1:41:29
22. Agreement of Parties 1:44:32
23. Termination Option 1:45:33
23. Changes to Paragraph 23 1:59:36
24. Consult an Attorney Before Signing 2:00:57
Executed Box / Effective date 2:03:34
Signature lines 2:06:24
Page 9 2:07:45
Option Fee Receipt 2:11:10
Contract and Earnest Money Receipt 2:11:28
Please consult an attorney before using this contract. This video is not meant to be legal advice.
Tags: Texas real estate commission sales contract