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Real Estate Contracts For Texas

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					Texas Real Estate Contracts, 3e
February 2008 Update

The changes herein reflect the promulgation of five new forms effective December 30, 2007. This
update replaces the August 2007 Update.

Table of Contents, page xiv, add “14-18A” after “14-18”.

Page 18, first paragraph, line 4, change “11-5” to “11-6”.

Page 20, last paragraph, line 8, change “10-4” to “10-5”.

Page 140, last paragraph, change “23-6” to “23-7” and “24-6” to “24-7”

Page 145, first title, change “28-0” to “28-1”.

Page 145, first full paragraph, line 7, delete “If buyer fails to provide the seller with the report
within the specified time frame and give notice of termination, the buyer will be deemed to have
accepted the property. Because of this “deemed acceptance”, it is recommended that any notice
of termination and report sent by fax include a return receipt to confirm receipt.”

Page 145, second title, change “10-4” to “10-5”.

Page 146, delete Figure 14-4, go to http://www.trec.state.tx.us for replacement form.

Page 147, delete Figure 14-5, go to http://www.trec.state.tx.us for replacement form.

Page 148, first paragraph, line 5, delete “If the buyer fails to obtain loan or assumption approval
for any other reason, the provisions of the contract will control. In which case the sales contract
would terminate and the buyer could seek his or her earnest money back.”

Page 153, first title, change “11-5” to “11-6”.

Page 153, second title, delete title and replace with “Addendum for Release of Liability on
Assumed Loan and/or Restoration of Seller’s VA Entitlement”

Page 153, second title, change “12-1” to “12-2”.

Page 154, delete Figure 14-8, go to http://www.trec.state.tx.us for replacement form.

Page 155, delete Figure 14-9, go to http://www.trec.state.tx.us for replacement form.

Page 156, first title, change “40-2” to “40-3”

Page 156, second title, change “32-0” to “32-1”.

Page 156, third title, change “33-0” to “33-1”.

Page 157, delete Figure 14-10, go to http://www.trec.state.tx.us for replacement form.

Page 160, delete Figure 14-12, go to http://www.trec.state.tx.us for replacement form.
Page 161, delete Figure 14-13, go to http://www.trec.state.tx.us for replacement form.

Page 162, first title, change “34-2” to “34-3”.

Page 163, delete Figure 14-14, go to http://www.trec.state.tx.us for replacement form.

Page 167, third title, change “41-0” to “41-1”.

Page 167, fifth paragraph, line 3, replace “$350” with “$500”.

Page 170, delete Figure 14-18, go to http://www.trec.state.tx.us for replacement form.

Page 171, second paragraph, lines 7 and 9, replace “Release of Liability Addendum” with
“Addendum for Release of Liability on Assumed Loan and /or Restoration of Seller’s VA
Entitlement (See Appendix Form TREC 12-2)”

Page 171, after the second paragraph but before “Other Mandatory Forms” insert

        Addendum Containing Required Notices Under 5.016, §420.001 and §420.002, Texas
        Property Code (TREC 43-0)

                This addendum is used anytime the buyer is having a new house built. It
        provides notice to the buyer that the contractor must be registered with the Texas
        Residential Construction Commission. Go to http://www.trec.state.tx.us for form 43-0.

Page 255, delete Example 23-6 and replace with form 23-7 from http://www.trec.state.tx.us.

Page 264, delete Example 24-6 and replace with form 24-7 from http://www.trec.state.tx.us.

Page 282, delete Example 10-4 and replace with form 10-5 from http://www.trec.state.tx.us.

Page 283, delete Example 11-4 and replace with form 11-6 from http://www.trec.state.tx.us.

Page 284, delete Example 12-1 and replace with form 12-2 from http://www.trec.state.tx.us.

Page 289, delete Example 28-0 and replace with form 28-1 from http://www.trec.state.tx.us.

Page 290, delete Example 32-0 and replace with form 32-1 from http://www.trec.state.tx.us.

Page 291, delete Example 33-0 and replace with form 33-1 from http://www.trec.state.tx.us.

Page 292, delete Example 34-2 and replace with form 34-3 from http://www.trec.state.tx.us.

Page 298, delete Example 40-2 and replace with form 40-3 from http://www.trec.state.tx.us.

Page 300, delete Example 41-0 and replace with form 41-1 from http://www.trec.state.tx.us.

After page 303, insert form 43-0 from http://www.trec.state.tx.us.

				
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