Contract

TXR 1701 — Farm and Ranch Contract

This is the primary sales contract for purchasing existing farms and ranches of any size in Texas. It covers the complete transaction from offer to closing, including property description (land, improvements, accessories, crops), sales price and financing, leases (residential, fixture, natural resou

Source: TXR
Form Number: 1701
Category: Contract
Revised: November 4, 2024

Used For

Farm & Ranch

Form Outline

The TXR 1701 form is organized into the following sections:

  1. Effective Date
    The date this contract becomes binding (final acceptance by the last party to sign). All deadlines on this contract calculate from this date — set it first so the wizard can show you the exact dates as you go.
  2. Parties
    Names the seller and buyer and establishes the mutual agreement to sell/buy the property.
  3. Property
    Comprehensively defines the property being sold, including land description, farm/ranch and residential improvements, farm/ranch and residential accessories (with checkboxes), growing crops, seller exclusions, and mineral/resource reservations.
  4. Sales Price
    Breaks down the sales price into cash portion and financed portion, and provides a unique acreage-based price adjustment mechanism triggered by the survey results.
  5. Leases
    Requires disclosure of all existing leases on the property across four categories and restricts seller from creating new leases after the Effective Date without buyer consent.
  6. Earnest Money and Termination Option
    Establishes the earnest money deposit requirements, optional additional earnest money, the termination option period with option fee, and strict time-is-of-the-essence deadlines for all deliveries.
  7. Title Policy and Survey
    Establishes the title insurance framework, survey options, buyer's right to object to title defects and survey issues, and numerous statutory notice requirements specific to Texas real property law.
  8. Property Condition
    Establishes inspection rights, disclosure obligations, as-is or repair options, and environmental and property condition disclosures specific to farm and ranch properties.
  9. Brokers and Sales Agents
    Addresses broker/agent disclosure requirements for conflicts of interest and establishes that all broker compensation is governed by separate agreements.
  10. Closing
    Establishes the closing date and details each party's obligations at closing, including deed delivery, payment, and document execution.
  11. Possession
    Establishes possession delivery timing and warns about insurance risks of early or late possession arrangements not governed by a proper lease.
  12. Special Provisions
    Provides space for additional factual or informational items. Agents may not draft legal provisions -- only attorneys may do so.
  13. Settlement and Other Expenses
    Allocates closing costs between seller and buyer, specifies broker compensation contributions, and provides a termination right if any expense exceeds the stated amount.
  14. Prorations and Rollback Taxes
    Prorates ongoing expenses through closing and allocates rollback tax liability based on which party's actions triggered the assessment.
  15. Casualty Loss, Default, Mediation, Attorney's Fees, Escrow, Representations
    Standard contract provisions covering property damage before closing, default remedies for both parties, mandatory mediation before litigation, attorney's fees recovery, escrow agent procedures (including 15-day demand process), and the survival of all representations past closing.
  16. Federal Requirements
    Addresses FIRPTA tax withholding for foreign sellers and AFIDA agricultural land disclosure requirements for foreign buyers.
  17. Notices
    Establishes notice requirements and provides contact information fields for both parties and their agents.
  18. Agreement of Parties
    Establishes the entire agreement clause and provides a comprehensive checklist of addenda that may be attached to the contract.
  19. Attorney Consultation, Execution, Broker Info, and Receipts
    Final sections covering attorney consultation advisory, contract execution, broker information and fee agreements, and standardized receipt forms for all funds. The Effective Date (date of final acceptance) is captured at the top of the wizard.

How RaiderX Agents Use This Form

When you upload a signed TXR 1701 to a deal in RaiderX's Deal Manager, it reads the form's key dates and terms and automatically builds out your deadlines, contingencies, and tasks — so nothing slips through the cracks between contract and closing. Forms with a fill map also support e-signature directly inside RaiderX, so you can send this document for signature without leaving the platform.

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