If you are planning to buy a house in Texas, the first and most important document you will encounter is the Residential Home Purchase Contract. This contract is a legal agreement that outlines all the details of your home purchase, from the price to the closing date.

Here are some key things to consider when reviewing a Texas Residential Home Purchase Contract:

1. Price and Closing Costs

The contract should clearly state the purchase price of the home and the amount of your earnest money deposit. It should also outline all of the closing costs associated with the sale, including title insurance, escrow fees, and any other costs that you will need to pay.

2. Financing

If you are getting a mortgage to buy the home, the contract should include details about your financing. This will typically include the type of loan you are getting, the interest rate, and any requirements that the lender may have.

3. Contingencies

Most home purchase contracts contain contingencies that allow you to back out of the sale if certain conditions are not met. Common contingencies include an inspection contingency, which allows you to back out of the sale if the home inspection reveals significant problems, and a financing contingency, which allows you to back out if you are unable to secure financing for the purchase.

4. Property Disclosures

The seller is required to disclose any known defects or issues with the property. This can include anything from a leaky roof to a history of termite infestations. Make sure that the contract includes a section for property disclosures and that the seller has provided you with a complete list of any known defects.

5. Closing Date

The contract should include a closing date, which is the day that you will take ownership of the home. Make sure that this date works for your schedule and that you have enough time to complete any necessary steps before the closing.

In summary, the Texas Residential Home Purchase Contract is a critical document that you will need to review and sign when buying a home in Texas. Make sure to carefully review all of the details and ask questions if anything is unclear. With the help of a knowledgeable real estate agent and attorney, you can ensure that the contract protects your interests and enables a smooth home buying process.