How To Fill Out A Purchase Contract

Hey, everybody. Nick here.

Today, we’re going to talk about purchase contracts.

I get a lot of questions like, "If I find a deal and I find the right house, how am I going to fill out the paperwork?" "What goes into this contract?" They’re very good questions. But, don’t let that stop you from moving forward.

So, what’s a purchase contract?

It’s just an agreement between you (if you’re the buyer) and the seller of what’s going to happen in order for you to buy their house. So, you need to have certain things in there: a buyer’s name, a seller’s name, a date, a price, and a legal property description. There are a bunch of other things that go in your standard real estate contract, but those are the main things you got to have in there.

So, we'll take a quick look at one in the video below, fill in some of the blanks, and I think this will help alleviate some of the anxiety and some of the stress that goes along with it.

Today I'm showing you your standard TREC (Texas Real Estate Commission) one to four family residential contract. That’s what you’d use in the state of Texas to purchase your regular single-family homes, your duplex, up to your fourplex. Some things are going to be different in other states, so if you’re there, it may not be exactly like this, but I think this will give you a good idea of some of the things you can look for.

So, let’s start here:

I hope this helps to ease some of the anxiety about starting to fill out your first one all by yourself.

We'll talk soon! –Nick

Disclaimer: This is for educational purposes only and is not a substitute for legal advice. Always consult your own legal entities.