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Updated April 18, 2024

A Texas residential purchase and sale agreement outlines the terms and conditions of an offer to purchase real estate. The document informs the seller of the amount the buyer is willing to pay and specifies various terms the seller must satisfy if the buyer is to agree to the sale. Other provisions can be established such as financial contingencies (e.g., the purchase is only possible if the bank approves a loan application) and the inclusion of permanent fixtures like an air conditioning unit or swimming pool.

After the seller reviews the proposal, they can adjust the terms through the submission of a counter-offer. Only after both parties sign the agreement will the sale be official and legally binding.

Buyer Beware
TREC Contracts (5)
Disclosures (3)
Addendums (4)
Commercial Property
Sources

Buyer Beware

Texas property code states that when selling a property consisting of a single-family residence, the seller must disclose material defects to the buyer.

A buyer of a multi-family property does not have the same protection. Therefore, the buyer should conduct a full inspection before purchasing as any defects discovered “after the fact” are their responsibility.^[1]

TREC Contracts (5)

Standard Residential Purchase Agreement (1 to 4 family)

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Condominium Purchase Agreement

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Farm and Ranch Contract

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New Home Contract (completed construction)

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New Home Contract (incomplete construction)

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Disclosures (3)

Lead-Based Paint Disclosure – Sellers must provide buyers with this disclosure when selling any property built before 1978. This document reveals to the buyer information regarding the existence of lead paint in the residence.

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Property Located Seaward of the Gulf Intracoastal Waterway Disclosure – For property located seaward of the Gulf Intracoastal Waterway.^[2]

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Seller’s Disclosure Notice – If selling a single-dwelling property, the seller must use this disclosure to inform the buyer of damages to the property. Buyers must receive this disclosure on or before the date the residential purchase agreement is signed by both parties.^[1]