Review paperwork and sign an offer
Once you’ve decided on an offer, it’s time to review the contract and sign it!
In Texas, it usually takes about 35 days to close on a home sale after accepting an offer, lower than the national average of 58 days, according to Ellie Mae’s 2021 origination insight report.
What’s in a Texas purchase and sale agreement?
Texas’ One to Four Family Residential contract contains several key items to pay attention to, including:
- Parties and property. The buyer and seller’s full legal names, and your home’s address, including its lot and block information.
- Sales price. How much the buyer is offering to purchase your home and the type of financing.
- Earnest money and termination option. How much the buyer is offering to deposit, when it’ll be delivered, and how long they have to terminate the contract.
- Property condition. If the buyer has or hasn’t received the property disclosure yet (if they haven’t, how many days do you have to deliver one to them)?
- Closing. The estimated date of closing, and when ownership transfers to the buyer.
- Personal property. If the buyer is asking for any of your personal property to transfer in the sale, such as appliances or storage sheds.
