when a broker completes the trec farm and ranch contract form, what is the best way to draft a reservation clause in paragraph 2f? it is a form of compensation to the lessor (or others) under a mineral lease. the buyer will also want to know if there is a possibility or likelihood that an operator will need to use all or part of the surface that the buyer controls. for example, the seller may sell a property but may reserve to himself (or others) one-half of the mineral interest in the property. since the form is informational in nature, it is not intended to be an agreement between a buyer and a seller and should not be attached to or made a part of any contract. it is not intended to take the place of a buyer's representation agreement between a broker and his buyer client. the seller's agent just told me that the seller can't find his existing survey, so my buyer will have to pay for a new survey. paragraph 7d establishes the agreement between seller and buyer as to one of the material terms of the contract: acceptance of property condition. my buyer client is on the eighth day of his 10-day termination-option period, and the seller still hasn’t turned on the utilities to allow the buyer to have the property inspected. by using this form, the seller is free to consider other offers without having to be concerned about the withdrawal of a previous, written counteroffer. a verbal agreement must be reduced to writing and signed by the buyer and seller to become valid. an amount for a seller’s contribution to the buyers’ closing costs should be in paragraph 12a(1)(b) of the contract. if a sales contract is executed by a buyer and seller with a sales price of less than what the seller owes and the sale is subject to the lender's approval, what should the mls status be reflected as? when listing the property for sale, the son, who is an attorney, told me that he is not required to provide a seller's disclosure notice. even though the sale is subject to the approval of the lender, there is still a contract between the buyer and the seller. if you list the square footage of a property, you should always quote the information source and let prospective buyers know if you have any reason to know that the information is false or inaccurate. if the parties cannot come to a resolution about what the term or value should be, a court would have to decide the value of that term for them. is there a form i should use to tell the tenant his lease won’t be renewed? the promise of the seller to sell and of the buyer to buy is sufficient consideration to support the making of a contract. trec has promulgated the notice of buyer's termination of contract form for use when a licensee is helping a buyer provide the appropriate notice to the seller of the exercise of his termination option. is there a form to give notice to the buyer that the contract is terminated? the seller and buyer of property in an agricultural development district must also sign a notice at closing that is recorded in the deed records.