TREC Form 24-18 New Home Contract - Texas

What Is TREC Form 24-18?

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.

FAQ

Q: What is TREC Form 24-18?
A: TREC Form 24-18 is a contract used in Texas for the purchase of a new home.

Q: Who uses TREC Form 24-18?
A: Buyers and sellers of new homes in Texas use TREC Form 24-18.

Q: What is the purpose of TREC Form 24-18?
A: TREC Form 24-18 outlines the terms and conditions of the sale, including the purchase price, closing date, and inspection procedures.

Q: Is TREC Form 24-18 mandatory?
A: While it is commonly used, TREC Form 24-18 is not mandatory. However, it is recommended to use it as it provides a standardized agreement for both parties.

Q: Can TREC Form 24-18 be customized?
A: Yes, certain sections of TREC Form 24-18 can be customized to meet the specific needs of the buyer and seller.

Q: What happens after TREC Form 24-18 is signed?
A: Once TREC Form 24-18 is signed by both parties, it becomes a legally binding contract and the sale process can proceed according to the agreed-upon terms.

Q: Are there any specific deadlines mentioned in TREC Form 24-18?
A: Yes, TREC Form 24-18 includes deadlines for various tasks such as inspections, financing, and the closing date.

Q: Can TREC Form 24-18 be used for the purchase of a used home?
A: No, TREC Form 24-18 is specifically designed for the purchase of new homes. Different forms are used for the purchase of used homes in Texas.

Q: Are there any additional forms or documents required along with TREC Form 24-18?
A: Depending on the specific circumstances, additional forms or documents may be required. It is advisable to consult with a real estate professional for complete guidance.