Webinar: Time for Change 2014 TREC Contract Changes July 25, Sponsored By:
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1 Webinar: Time for Change 2014 TREC Contract Changes July 25, 2014 Sponsored By:
2 New TREC Form Changes Provider: Alliant National Title Ins. Co. 1
3 Page 1 first item Page 1-2nd item 2
4 Page 2 Item 1 6. Title Policy & Survey: (8) Exception as to discrepancies, conflicts, shortages in area or boundary lines Page 2 Item 2 3
5 Page 4 Item 1 Paragraph 9 regarding Propane Gas System Service Area is added to E. Title Notices Page 4 item 2 & 3 Made a change to as is condition, from in its present condition in Paragraph 7 Property Condition. Deleted Paragraph E. Leases 4
6 Page 4 item 4 Paragraph F. Completion Of Repairs & Treatments: took out otherwise authorized by law. Extension form 15 days to 5 days. Also, changed Page 5 Item 1 & 2 Added the word Residential and took out deliver to buyer the Lease(s) and the move in condition form signed by the tenant if any. 5
7 Page 5 - item 3 Paragraph 10. Possession: (A) is now labeled as Buyer s Possession (B) Added in total. Page 6 Item 1 16: Mediation: Gives no choice Mediation is required! 6
8 Page 7 Item 1 Addendum for Property in Propane Gas System Service Area added to Paragraph 22. Page 8 Item Termination Option: Time frame changed from 2 days to 3 days. 7
9 1-4 Family Page 8 Item Consult an Attorney has a change in the verbiage, but still says to the client consult an attorney before signing. Page 9 Items Several additions adding Name of Associate s Licensed Supervisor or Associate s Name 8
10 Contract Resale Page 1 Item 1 Mention of Satellite Dish System and Equipment has been removed from Paragraph 2 Property and Condominium Documents: (2) and (3) 9
11 Page 1 Item 2 Box Choice 3 has been removed from B. the Declaration, bylaws and any rules of the Association are called Documents. Page 2 Item 1 4. Financing: Added Not for use with Reverse Mortgage financing 10
12 Page 2 Item 2 6. Title Policy: B. Commitment: Added 3 days before the closing date Page 3 Item 1 6. Title Policy: D. Title Notices Paragraph 7 regarding Propane Gas System Service Area is added 11
13 Page 3 Item 2 Made a change to as is condition, from in its present condition in Paragraph 7 Property Condition. Deleted Paragraph E. Leases Page 4 Item 1 Paragraph F. Completion Of Repairs & Treatments: took out otherwise authorized by law. Also, changed Extension form 15 days to 5 days. 12
14 Page 4 Item 2 9. Closing: Added the word Residential and took out deliver to buyer the Lease(s) and the move in condition form signed by the tenant if any Page 4 Item 3 Paragraph 10. Possession: (A) is now labeled as Buyer s Possession (B) added in total 13
15 Page 6 Item Mediation: Changed to make mediation mandatory Page 7 Item Agreement of Parties: Addendum for Property in a Propane Gas System Service Area Added. 14
16 Page 7 Item 2 23: Termination Option: 2 days changed to 3 days Page 7 Item Consult an Attorney: has a verbiage change but still notifies the client to consult an attorney before signing. 15
17 Page 8 Item 1 Several additions adding Name of Associate s Licensed Supervisor or Associate s Name Farm and Ranch 16
18 Farm and Ranch Changes in addition to 1-4 Family 2. Property: (F) Reservations 7.Property Condition (H) Environment Farm and Ranch Page 1 Item 1 2. Property: (F) Reservations wording is changed to allow reservations to be placed on an attached addendum or in special provisions. 17
19 Farm and Ranch Page 5 Item 1 7. Property Condition: (H) (3) Changed to read adversely affects the property. Farm and Ranch Page 8 Item Agreement of Parties: Addendum for Reservation of oil, gas and other Minerals has been removed. 18
20 New Home Incomplete New Homes Incomplete Changes not a part of 1-4 Family 7.Property Condition: (I) Seller s Disclosure (3) Environmental 19
21 New Home Incomplete Page 4 Item 1 7. Property Condition: (I) Seller s Disclosure (3) Environmental New Home Complete 20
22 New Home Complete Changes not a part of 1-4 Family New Home Complete Page 4 Item 1 7. Property Condition: (H) Seller s Disclosure: (3) Environment. 21
23 Unimproved Property Unimproved Property Changes not included in 1-4 Family 7 Property Condition: (E) Seller s Disclosure (1) Flooding (3) Environmental 22
24 Unimproved Property Page 4 Item 1 7. Property Condition: (E) Seller s disclosures: (1) Flooding (3)Environmental Out litigious society makes a small change in words a large difference in legal meaning when there is dispute. Third Party Financing Addendum 23
25 Third Party Finance Addendum Page 2 Paragraph E added Subdivision Information, Including Resale Cert. 24
26 Subdivision Information Form Page one Paragrap H Change Reverse Mortgage Financing Addendum New Form 25
27 Addendum for Property In a Propane Gas System Service Area New Form Thank You For Participating In Today s Webinar! 26
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Real Estate Purchase Agreement for. THIS SALES AGREEMENT (the "Agreement") dated this day of, (the "Execution Date") (the "Seller") -AND-
Real Estate Purchase Agreement for THIS SALES AGREEMENT (the "Agreement") dated this day of, (the "Execution Date") BETWEEN : (the "Seller") OF THE FIRST PART -AND- (the "Buyer") OF THE SECOND PART BACKGROUND
Broker. Escrow Management. Chapter 4. Copyright Gold Coast Schools 1
Broker Chapter 4 Escrow Management 1 Learning Objectives Define the term escrow account Define the terms commingle and conversion Describe the requirements for establishing an escrow account(s) Describe
2018 Summary of Changes & Practice Tips (the effective date of the forms is October 1 st, 2018)
2018 Summary of Changes & Practice Tips (the effective date of the forms is October 1 st, 2018) The New Forms are: 1. Escrow Agreement between Buyer, Seller, and Escrow Agent This form is intended to be
FINAL INSTRUCTIONS: -Lis ng Agreement (and Addendum if applicable) filled out and signed. Please return every page.
INSTRUCTIONS FOR LISTING YOUR PROPERTY WITH FLATLIST.COM Please read the following and INITIAL in each box next to the numbered items below for acknowledgement. *This page must be returned with your forms.
HomeSteps Asset # ADDENDUM TO CONTRACT OF SALE Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards Risk Assessment or Inspection Contingency This Addendum is to be made a part
Broker FAQ s Solid Source Companies
Due Diligence Earnest Money Contigencies Termination/ Expiration of Contract Short Sales Contract Questions Forms HUD BROKER FREQUENTLY ASKED QUESTIONS Due Diligence Earnest Money Contingencies Termination/Expiration
Brune Family Farm Acres
Brune Family Farm 1.577 Acres 2078 FM 109, COLUMBUS TX Ranch Style Home 1.577 Acres 3 Bedroom 2 Bath Beautiful trees Fenced yard This beautiful ranch style home sits on 1.577 acres located approximately