Posted by David Alexander on May 27, 2000 at 02:59:13:
Going from memory but I believe
Less than 10% down, 10 day Notice
10-20% Down, 30 Day Notice
20% or more 60 day Notice
So if they put down more than 20% it’s better to Foreclose because in Texas that’s 21 days after you give the acceleration.
There are also statutes in Texas that make contract for deeds very unfavorable, like if you dont disclose or handle the termination of contract correctly then the seller is liable for every payment made back to the seller. It involves the Border towns mostly, and am not sure if it extends fully to all parts of Texas.
But, like you said, if it walks like a duck, quacks like a duck…
then it’s a sale.