A purchase contract is the agreement that controls everything about a real estate sale: price, earnest money, who pays closing costs, what happens if the inspection is bad, and when the buyer can walk away and still get their deposit back. In El Paso, a growing number of sales happen without a realtor: a homeowner selling directly to a neighbor, a family buying a lot in Socorro or Clint for cash, an investor picking up a rental off-market, or a Juárez family buying a house on this side of the border. Those buyers and sellers still need a solid contract, and it should be reviewed by someone whose only job is protecting them.
Texas requires contracts for the sale of real estate to be in writing and signed under the statute of frauds, Texas Business and Commerce Code Section 26.01. Licensed agents must use the Texas Real Estate Commission promulgated forms, most commonly TREC Form 20-18, the One to Four Family Residential Contract (Resale), together with addenda for financing, HOA, lead-based paint and third-party financing. Texas Property Code Chapter 5 adds required seller disclosures, including the Seller's Disclosure Notice under Section 5.008 and notices about water districts, floodplains and unimproved property. A private seller is not required to use the TREC form, but using it or a properly drafted custom contract avoids gaps that lead to earnest money fights and failed closings.
For buyers and sellers, we either draft the contract from scratch or mark up the contract the other side sent, explaining every clause in English or Spanish: the option period, financing contingency, survey and title objection deadlines, repairs, possession date and default remedies. We coordinate with the El Paso title company on the title commitment and closing documents, and if the deal is owner financed we prepare the note and deed of trust as well. No court appearance is ever involved in a purchase contract. Compared with signing a form found online, an attorney review costs a fraction of the earnest money at stake and catches the terms that quietly favor the other side.
Common mistakes in for-sale-by-owner deals in El Paso
The problems we see most often: no option period, so the buyer has no clean way to back out after a bad inspection; earnest money paid directly to the seller instead of a title company or escrow agent; no deadline for the seller to cure title objections; handshake agreements about repairs or appliances that never make it into the contract; and no seller's disclosure notice, which under Property Code Section 5.008 gives the buyer a right to terminate. Sellers, for their part, often agree to pay closing costs and repairs without a cap, or fail to require proof of funds from a cash buyer.
What happens between signing and closing
After both sides sign, the earnest money and option fee go to the title company, which issues a title commitment listing liens, easements and requirements to close. The buyer's inspection and option period run, followed by financing approval and a survey if required. We review the title commitment and Schedule C requirements, object to anything that should be cleared, and confirm the closing figures. At closing, typically at one of the El Paso title companies, the seller signs the deed and the buyer signs the loan documents. If the property will be the buyer's residence, they apply for the homestead exemption with the El Paso Central Appraisal District afterward.
What's included
- Custom purchase contract or completed TREC form with the addenda your deal needs
- Clause-by-clause review of a contract sent by the other side, with a written summary of risks
- Seller's Disclosure Notice and other Property Code Chapter 5 notices
- Negotiation of earnest money, option period, repairs and closing cost terms
- Review of the title commitment and Schedule C requirements from the El Paso title company
- Deed preparation for cash sales that close without a title company
- Plain-English or Spanish explanation of every deadline before you sign
How it works
Send us the deal
Share the property address, price, whether there is financing, and any draft contract you have received. We quote a flat fee for drafting or review and confirm the timeline.
Draft or mark up
We prepare the contract or return a marked-up version with proposed changes and a plain-language summary, then walk you through it by phone, Zoom or at our El Paso office.
Sign and move to closing
Once terms are agreed, we finalize the signed contract, track the option and title deadlines, and stay available through closing at the title company.