Unimproved Property Contract {9-17}

TREC NO. 9-17 - UNIMPROVED PROPERTY CONTRACT. This form promulgated by the Texas Real Estate Commission (TREC) is a standardized legal document used in Texas for the sale and purchase of real estate that does not include any structures or buildings, i.e., raw or vacant land. This form sets out the terms and conditions under which the seller agrees to convey, and the buyer agrees to purchase, a specific parcel of land. It identifies the parties involved, the legal description of the property, the agreed sales price, and any adjustments to that price based on a land survey. It also outlines the buyer's right to terminate the contract during the “option period,” addresses the delivery of earnest money and option fees, and covers issues such as existing leases, mineral rights, title insurance, and surveys. In addition, the form includes several mandatory disclosures and notices required by Texas law, including information about property owners’ associations, utility districts, flood zones, annexation, water levels, and service areas. This contract is not intended for use in condominium transactions and is designed to provide a clear legal framework to protect the rights and responsibilities of both the buyer and seller throughout the real estate transaction. www.FormsWorkflow.com