The Real Estate Contract And What To Watch Out For As A Home Buyer

The Real Estate Contract And What To Watch Out For As A Home Buyer

Notice I didn't say "First-time home-buyer".    Even the most experienced home-buyer, due to lack of knowledge, focus, or time, may not be aware of the importance of the extremely time-sensitive blanks in a real-estate contract.  We as Realtors can not interpret the law (that's for your attorney, since we are not licensed to practice "law") but I would like to shed some light on the sometimes confusing blanks on the Real-Estate sales contract in Texas.  Does buying a home draw more blanks in your mind than you know the contract has?  Read on...Undo to popular belief, and sometimes just lack of information, the sales price is not the only item to be negotiated when buying a home.  Are you a soon-to-be home-buyer who who is looking forward to the "execution date" of the contract when all terms are agreed to and the negotiations are over?  Think again:  there are over 24 parts of the Texas Residential Sales Contract.  A Realtor watching out for your best interests will let you know which "part" comes next and help you stay within the guidelines of what you are to do to remain "in contract".  (This does not count any applicable addendum that goes alone with the sales contract).  The Texas Sales Contract is always the same...but the blanks are always different.  (Confused yet?) :)

Ever wondered what we as Realtors do between the time the contract is signed and your closing date?  A huge part of our job in being Realtors is to protect you, the client, and make sure you are protected within the terms of the contract. Do know that just like any contract, there are consequences when you do not take these deadlines seriously....you could lose the home you have set your heart on, or at worst...be sued for non-performance.
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Amy Arey Headshot
Author:
Phone: 214-901-1341
Dated: January 25th 2014
Views: 1,221
About Amy: Buying a home or investment property doesn't have to be stressful! Even if you encounter "bumps" in ...

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