On January 1, 2016, the Texas Association of REALTORS, updated a long list of contract forms for use by its members. This list included a couple of commercial forms, notably the Commercial Contract – Improved Property and Commercial Contract – Unimproved Property. These forms are not required use for commercial real estate transactions, but many members of the Texas Association of REALTORS do use them. Consult with your agent if you have any questions regarding the new contract changes. While often small changes, they can have consequences and may change your position during a transaction.
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