Amendment

TXR 1903 — Amendment to Contract

This form provides a standardized, TREC-promulgated method for buyer and seller to modify the terms of an existing executed real estate contract. It contains ten pre-printed amendment items covering the most common contract modifications: sales price adjustments, additional repairs, closing date cha

Source: TXR
Form Number: 1903
Category: Amendment
Revised: November 4, 2024

Used For

Residential Sales, Farm & Ranch, Vacant Land

Form Outline

The TXR 1903 form is organized into the following sections:

  1. Header and Property Identification
    Identifies the form as a TREC-promulgated amendment, specifies the property address to link this amendment to the correct contract, and instructs the parties to check only the applicable amendment boxes.
  2. Sales Price Amendment
    Replaces the sales price in Paragraph 3 of the original contract. Breaks the revised price into cash at closing (A), total financing (B), and the new total sales price (C). Line C must equal the sum of lines A and B.
  3. Additional Repairs and Treatments
    Adds seller-obligated repairs and treatments beyond what the original contract already requires. These are at seller's expense and governed by Paragraph 7 of the contract regarding completion standards, documentation, and warranty transfer.
  4. Closing Date Change
    Changes the closing date specified in Paragraph 9 of the original contract to a new date.
  5. Settlement Expense Amendment (Paragraph 12A(1)(b))
    Changes the amount the seller agrees to pay toward buyer's closing costs and prepaid items as specified in Paragraph 12A(1)(b) of the contract. Can be expressed as a dollar amount or percentage of sales price.
  6. Settlement Expense Amendment (Paragraph 12A(1)(c))
    Changes the dollar amount in Paragraph 12A(1)(c) of the contract, which covers the seller's contribution to buyer's expenses that is separate from the Paragraph 12A(1)(b) amount.
  7. Lender Required Repairs Cost Allocation
    Allocates the cost of lender-required repairs and treatments between buyer and seller. The specific repairs must be itemized on an attached list.
  8. Option Period Extension
    Extends the buyer's option period by paying an additional option fee with a new termination deadline and credit election.
  9. Option Period Waiver
    Buyer permanently and irrevocably waives the unrestricted right to terminate the contract that was purchased with the option fee. Once signed, the buyer can no longer terminate under the option period.
  10. Financing Approval Deadline Extension
    Extends the buyer's financing approval deadline from the Third Party Financing Addendum.
  11. Other Modifications
    Catch-all section for any contract modifications not covered by items (1) through (9). Includes an explicit warning that brokers and agents are prohibited from practicing law.
  12. Execution and Signatures
    Legal advisory, execution date (broker fills in date of final acceptance), and signature lines for all buyers and sellers.

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