Description
his answer: Your case one assignment had wrong information in all of the blanks. Please use the following information to fill out the forms:
CASE STUDY #1: CONVENTIONAL NEW LOAN – fill in the first twelve paragraphs.
https://www.trec.texas.gov/sites/default/files/pdf-forms/20-15_3.pdf (Links to an external site.)
Use Google Chrome and print to .pdf before saving.
You need to study pages 416 – 428 for a sample contract that will help you with this case.
You are only allowed one attempt at each of the two cases.
I count off for capitalization errors.
Saving a PDF File
- Open the PDF file.
- Fill in/complete the all of the fields within the form.
- After completing your assignment, select the Print icon.
- Make sure the Destination reads Save as PDF. …
- Select the Save icon and save the file. …
- You can then submit the PDF file that you saved by selecting it from your files.
SELLER:
Bob Scott Zeller and wife Sarah Ann Wyatt Zeller
1927 Lazy Oaks, Houston, TX 77123, tel 713 497 3411 , zeller@abc.com
BUYER:
Ima Goode Byer, a single person
1000 Desert Drive, Phoenix, AZ, 5531 1, tel 502 465 3512, byer@ abc.com
PROPERTY:
lot 1, block 2 Homewoods, Section 1; 1927 Lazy Oaks, city of Houston, county of Harris, TX
77 123; built 1979.
EXCLUSIONS:
Seller will retain all birdbaths. garden sculptures & ornaments, pots, and potted plants.
SALES PRICE:
$130,000
DOWN PAYMENT: 5%
LTVR: 95%
FINANCING:
15 year conventional loan, fixed rate.
4% fixed origination charges 3%
purchase subject to approval; buyer has 14 days to notify seller of loan non-approval
EARNEST MONEY:
$3000
TITLE CO/SURVEY
The title policy will not be amended.
ABC Title Co., 1234 West Loop South, Houston, TX 77057. Seller pays for title
ins. Buyer pays for survey, due within 7 days after contract. Buyer has 7 days to object to anything in
Paragraph 6. Buyer plans to build a backyard pool. No mandatory HOA.
PROPERTY CONDITION:
Seller gave disclosure before contract. No repairs. Seller will pay $300 for
residential service contract.
CLOSING DATE:
approximately 30 days after execution date.
POSSESSION:
upon closing and funding
SPECIAL PROVISIONS:
(Buyer) requests a response within 48 hours.
Seller, at seller’s expense, shall provide a current CLUE report on the property within 7 days of contract
execution date.
SETTLEMENT EXPENSES:
Seller agrees to pay $1200 of buyer’s expenses.
OPTION:
14 days, $100
personal check, counts toward price.
EXECUTION DATE:
March 15 (current year)
BROKERS:
Listing Co.: Prudential, 3%, agent Diane Murray
Other Co.: 20th Century, 3%, agent John Harrison, a buyer’s agent.
ADDENDUM:
This purchase is contingent upon sale of Buyer’s other property
at 1000 Desert Dr., Phoenix, AZ., by March 31. Buyer gets 3 days to remove contingency, pays additional $500 earnest money.
CLUE=
Comprehensive Loss Underwriting Exchange
