This is a legal form that was released by the Texas Real Estate Commission - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is TREC Form 49-1 Addendum?
A: TREC Form 49-1 Addendum is a document used in Texas real estate transactions.
Q: What does the TREC Form 49-1 Addendum concern?
A: The TREC Form 49-1 Addendum concerns the right to terminate the contract due to the lender's appraisal.
Q: What is the purpose of the TREC Form 49-1 Addendum?
A: The purpose of the TREC Form 49-1 Addendum is to provide a way for the buyer to terminate the contract if the property does not appraise for the agreed-upon purchase price.
Q: Who can use the TREC Form 49-1 Addendum?
A: The TREC Form 49-1 Addendum can be used by buyers and sellers in Texas real estate transactions.
Q: What happens if the property doesn't appraise for the agreed-upon purchase price?
A: If the property doesn't appraise for the agreed-upon purchase price, the buyer may have the right to terminate the contract and receive a refund of their earnest money.
Q: Is the TREC Form 49-1 Addendum required in all Texas real estate transactions?
A: No, the TREC Form 49-1 Addendum is not required in all Texas real estate transactions. Its use is optional and depends on the terms negotiated between the buyer and the seller.
Form Details:
Download a fillable version of TREC Form 49-1 by clicking the link below or browse more documents and templates provided by the Texas Real Estate Commission.