24. Consult a lawyer before signing: Real estate agents are prohibited from providing real estate advice and the Texas Real Estate Commission (TREC) encourages both parties to consult with their attorney before signing, as the contract is a legally binding document. This section contains a place for the lawyer`s contact information, the buyer`s and seller`s signatures, and the broker to enter the execution date. (7) Assumptions. In the cases, the seller should ensure that there is a mutually acceptable instrument of trust to guarantee acceptance (with a clause due to the sale) as well as an acceptance agreement defining when and to whom the buyer will make payments, how accident insurance is managed and other often overlooked but important details. The acquisition agreement should also include disclosure of the potential future effects of an existing clause on the maturity of the sale and provide for an approach in the event that the lender asserts the assignment due. 3. Sale price: indicates the total selling price, the amount of the sale price paid in cash by the buyer and the amount of the sale price which is financed either by a third party, by the seller, or by a credit taking. Credit is taken when the buyer takes over the seller`s existing loan. The offer includes the purchase price set by the buyer and additional conditions. The seller is given a period within which he can respond to the offer before it expires. During this period, the seller may modify the conditions by submitting a counter-offer to the buyer. .
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