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Contract of Sale

What is a "Contract of Sale?"

The term "contract of sale" is a generic expression applied to the type of contract used in the sale and purchase of real property (land) in Texas. The real property may be unimproved (no structures have been built on the land), or it may be improved with structures of some kind (for example, a home, or a commercial building).  The real property may be used for residential purposes (for example, a home), or it may be used in a commercial setting (for example, a commercial building located on land used in conjunction with the business).

What are common concerns related to a "Contract of Sale?"

The Texas Real Estate Commission (TREC) publishes several specialized contracts of sale, for example: the One to Four Family Residential Contract (Resale); the Unimproved Property Contract; the Farm and Ranch Contract; the New Home Contract (Incomplete Construction); the New Home Contract (Complete Construction); and the Residential Condominium Contract (Resale).  And the Texas Association of Realtors (TAR) also publishes its own copyrighted contracts of sale for a variety of sale and purchase circumstances.  And most Texas real estate attorneys have also developed their own customized contracts of sale (which may be identified by any number of titles) to fit a variety of circumstances.

Attorneys are authorized to draft and modify the substantive content of all contracts of sale no mater what the document may be called.  If you donít understand a contract or a document you have been requested to sign, donít sign it!  You may always engage the services of a Texas attorney to explain the document, and to negotiate its content or modify it if necessary.

I regularly assist clients in drafting, reviewing, interpreting, modifying, and negotiating all forms of contracts of sale.

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