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TXR 2508 — Information About Property Insurance for a Buyer or Seller

Two-page TXR information form for buyers and sellers about property insurance: how insurance availability and cost can delay or end a transaction, the coverage levels and underwriting factors insurers use, how CLUE claims-history reports work and can be corrected, the steps a buyer should take promptly after contracting (before any option period ends), and the Texas Department of Insurance as a resource. The parties sign to acknowledge receipt.

Source: TXR
Form Number: 2508
Category: Other
Revised: February 1, 2014

Used For

Residential Sales, Commercial Sales

Form Outline

The TXR 2508 form is organized into the following sections:

  1. A. Insurance Availability and Affordability Impact
    Establishes that property insurance availability and affordability affect both buyers and sellers, and that failure to obtain insurance can delay or terminate the transaction.
  2. B. Factors Affecting Insurance Availability and Affordability
    Covers the major factors insurers consider when pricing policies, including coverage levels (replacement cost vs. cash value), 5-year claims history on both property and applicant, credit scores, and physical property characteristics.
  3. C. CLUE Reports
    Explains the CLUE report system, how insurers use it, that it may contain errors, that consumers have the right to challenge inaccuracies, and how property owners can obtain their own CLUE reports.
  4. D. Steps Buyer Should Take After Entering a Contract
    Provides a four-step action plan for buyers: contact insurance agents, submit applications promptly, obtain written confirmation of underwriting completion, and verify lender acceptance of the coverage selected.
  5. E. Texas Department of Insurance Resources
    Points consumers to the Texas Department of Insurance as a resource if they cannot find affordable insurance coverage or need additional information.
  6. Receipt Acknowledged By
    Two "Signature" lines under "Receipt acknowledged by:" on page 2 for one or two recipients (a buyer or a seller) to acknowledge they received this insurance information. The paper prints no "Date" blank beside them. Placed as e-sign tabs when the form is sent.

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TXR 2508 has a verified fill map in EZDocs: answer a guided form — with the parties, property, price and closing date already filled in from your deal — and RaiderX fills the official current revision of the PDF, places every signature, initial and date line, and sends it for e-signature. Once every side has signed, the executed copy files itself into the deal.

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