Page 2 of the One to Four Family Residential Contract covers earnest money, title, and survey. Paragraph 5 shows the amount of earnest money being offered with the contract, who the earnest money is being deposited with, and if there will be additional earnest money deposited at a later date.
A common myth is that there HAS to be earnest money deposited in order to purchase a home in Texas. This is not true. You can purchase a home without ANY earnest money IF a seller is willing … (16 comments)
The first page of the One to Four Family Residential Contract (RESALE) covers the following 4 items:
1) Buyer and Seller: This is how you want to take or transfer title. If you want the home to be in a family trust, the trust name would be here. IF there is going to be a mortgage, ONLY the individuals who are to be on the mortgage need to be on the contract.
Learning About Sales Contracts in Texas -Part 2
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