Upcoming changes affecting TREC promulgated contract forms were approved and are expected to be effective voluntarily as of February 16. 2021, and mandatory April 1. 2021.

There are several changes approved, however, one in particular, that will affect the One To Four Family Residential Contract.  Paragraph 5 revised section combines earnest and option money to be paid to the title company escrow agent.

To read more about this change and others click here:  https://www.texasrealestate.com/members/communications/texas-realtor-magazine/issues/december-2020/changes-to-delivery-of-option-fees-and-other-trec-updates/