Learning the Purchase Contracts Will Make Home Purchase Easier
July 29, 2010 by Laura Duggan · Leave a Comment
Texas buyers should be familiar with the purchase contract before looking at homes they may want to purchase. Buying a home is an exciting and emotional event, and making an offer can be a little bit stressful if you aren’t familiar with the purchase contract. In Texas, our contracts are written by a committee of real estate attorneys and real estate agents who craft these documents together to protect both the buyer and the seller and thoroughly outline the terms and conditions of the real estate sale. The Texas Real Estate Commission promulgates these forms. Real estate agents are not attorneys and can only fill in the blanks on the forms and write in any business details in the special provisions section that don’t have legal consequences. Be sure to read over the forms that you will be executing in your home purchase before you go out and look for homes. After discussing them with your real estate agent, if you have questions about any part of the contract or the legal ramifications of what you are signing, consult a real estate attorney. Buying a home should be a joyful experience, and it will be even more so if you have read and understand the contracts you are signing before you have to use them.
