TREC contract form changes proposed by BLC

AUSTIN – The Texas Real Estate Commission’s Broker-Lawyer Committee has recommended several changes to existing TREC contract forms. 

The changes proposed involved the following: 

• Compensation Language 
• One to Four Family Residential Contract (Resale) Form 
• Third Party Financing Addendum 
• Condominium Resale Certificate 
• Unimproved Property Contract 
• Addendum for “Back-up” Contract 
• Addendum for Section 1031 Exchange Form 

License holders can comment on proposed changes here until Oct. 6.