Chapter_3_Outline.docx - Texas Promulgated Forms Second Edition Update Chapter 3 Parties Property and the Money Outline Learning Objectives When you

Chapter_3_Outline.docx - Texas Promulgated Forms Second...

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Texas Promulgated Forms, Second Edition Update Chapter 3: Parties, Property, and the Money Outline Learning Objectives When you have completed this chapter, you will be able to List the information required to complete contract forms; Fill out paragraphs 1 through 3of the One to Four Family Residential Contract and be able to identify the provisions within them; Identify which items should be in included in the Non-Realty Items Addendum; and Fill out the financing addenda: o Third Party Financing Addendum o Loan Assumption Addendum o Seller Financing Addendum o Addendum for Release of Liability on Assumed Loan and/or Restoration of Seller’s VA Entitlement. Lecture Outline I. Information Needed to Complete Contract Forms A. Worksheet starting on page 29 of the text B. Discuss the cost of financing in paragraph 12 II. The Heading A. Form’s title B. Intended use C. Possible notice of non-intended use D. Date TREC approved and promulgated the form III. One to Four Family Residential Contract, Paragraph 1, Parties Page 2 of Supplement A. In addition to names, the licensee will need to furnish marital status B. Legal entities will need to be identified C. Examples of name styling ©2016 Kaplan, Inc.
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