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Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.
Yes. The contract forms are available for public use. A TREC contract form, however, is intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use.
The Texas Real Estate Commission recently approved Notice of Seller's Termination of Contract (TAR 1950, TREC 50-0) for mandatory use by license holders if the seller has the right to terminate.
The Commission recently adopted changes to the following contract forms: Unimproved Property Contract. New Home Contract (Complete Construction) Notice of Buyer's Termination of Contract. Addendum Regarding Residential Leases.
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