This document summarizes a real estate sales contract form. It outlines the key components of the contract, including identifying the parties, describing the property, establishing the sales price, addressing financing options, handling earnest money, conducting title searches and surveys, inspecting the property's condition, paying brokers' fees, scheduling the closing, determining possession dates, specifying special provisions, prorating expenses, handling casualty losses, outlining what constitutes default, requiring mediation for disputes, covering attorney's fees, placing funds in escrow, making representations, complying with tax laws, describing how notices will be provided, agreeing to the terms, allowing termination options, advising to consult legal counsel, and handling broker information and signatures for the contract

1. Unit 10: The Sales
Contracts

2. UNIT 10: THE SALES CONTRACTS
Purpose of Real Estate Sales Contracts
 The Offer and Acceptance
 Earnest Money
 Equitable Title

3. UNIT 10: THE SALES CONTRACTS
TREC Form No. 20-13, 1-5
 1. Parties
 2. Property
 3. Sales Price
 4. Financing
 A. Third Party Financing
 B. Assumption
 C. Seller Financing
 5. Earnest Money

4. UNIT 10: THE SALES CONTRACTS
TREC Form No. 20-13, 6
 6. Title Policy and Survey
 A. Title Policy
 B. Commitment
 C. Survey
 D. Objections
 E. Title Notices
 Notice of Title Insurance Policy
 Notice of POA Membership
 Furnishing Subdivision Information
 MUD Notice for Statutory Tax Districts
 Tide Waters - Notice of Coastal Area Property
 Seller’s Disclosure Regarding Potential Annexation
 Property Located in a Certificated Service Area of a Utility Service
Provider - CCN Notice
 Public Improvement Districts
 Disclosure of Private Transfer Fees
 Propane Gas System Service Area

5. UNIT 10: THE SALES CONTRACTS
TREC Form No. 20-13, 7-14
 7. Property Condition
 8. Brokers’ Fees
 9. Closing
 10. Possession
 11. Special Provisions
 12. Settlement and Other Expenses
 13. Prorations
 14. Casualty Loss

6. UNIT 10: THE SALES CONTRACTS
TREC Form No. 20-13, 15-End
 15. Default
 16. Mediation
 17. Attorney’s Fees
 18. Escrow
 19. Representations
 20. Federal Tax Requirements
 21. Notices
 22. Agreement of the Parties
 23. Termination Option
 24. Consult an Attorney
 Broker Information and Ratification of Fee
 Option Fee Receipt
 Contract and Earnest Money Receipt