For Texas agents
Seller financing addendum (TREC 26-8), explained
Seller financing — also called owner financing on this site — is the vocabulary TREC uses. Addendum No. 26-8 is the form agents attach to the One to Four Family Residential Contract when the seller will carry paper. We explain the elections. We do not host or reproduce the official TREC form.
Official form: trec.texas.gov. After elections are set, generate aligned drafts with our form set or the calculator.
¶A — Credit documentation
Days and items the buyer must deliver (credit report, employment, bank statements). Our term sheet stores the day count and the item list.
¶B — Buyer's credit approval
The seller's window to object to credit. We do not rewrite TREC language; counsel keeps the addendum as published.
¶C — Promissory note
C(1) interest monthly, principal at maturity. C(2) amortized monthly installments, often with a balloon. C(3) interest-only for N months, then amortized. Only one box is elected; the others are struck on our note.
¶D — Deed of trust
- D(1) transfers: (a) consent not required with assumption, or (b) consent required with 26-8 carve-outs.
- D(2) casualty insurance.
- D(3) escrow of taxes and insurance, including a third-party servicer and who pays that cost.
- D(4) prior-lien acknowledgment.