TREC publishes two separate new-home contracts, and using the wrong one is a real risk: New Home Contract (Completed Construction), TREC No. 24-20, and New Home Contract (Incomplete Construction), TREC No. 23-20. Both are dated 05-04-2026 on the form itself; TREC's landing pages list an Effective Date of 07/01/2026 for both. 24-20 replaces TREC No. 24-19; 23-20 replaces TREC No. 23-19.
Which one applies
TREC's landing pages draw the line directly: 24-20 "is used for new homes where the construction has been completed by the builder and no one has previously lived in the home." 23-20 "is used for new homes where the construction has not yet been completed by the builder." Both forms carry the notice: "Not For Use For Condominium Transactions or Closings Prior to Completion of Construction."
What only the Incomplete Construction contract (23-20) has
Because construction isn't finished yet, 23-20 adds an entire section the completed-construction form doesn't need:
- Construction Documents (¶7B): the plans, specifications, finish-out schedules, change orders, and allowances — signed by both parties and incorporated into the contract by reference.
- Cost Adjustments (¶7C): change orders must be in writing; cost increases from change orders or buyer selections that exceed the allowances in the Construction Documents are paid by the buyer; cost decreases reduce the Sales Price proportionately.
- Buyer's Selections (¶7D): selections must conform to the Construction Documents or the seller's normal standards; the seller sets a deadline (days after notice) for the buyer to make required selections.
- Completion (¶7E): the seller must commence construction within a negotiated number of days after the Effective Date and reach Substantial Completion by a fixed date. "Substantial Completion Date" is defined as final inspection and approval by all applicable governmental authorities and any lender. A force-majeure clause (acts of God, fire, casualty, strikes, boycotts, or unavailability of comparable materials) extends the completion timeline — but never beyond the Closing Date.
The survey provision shifts too: on 23-20, the survey must be made after the Substantial Completion Date, rather than tied to the Effective Date the way it is on 24-20 and most other TREC contracts.
The casualty-loss extension window is different
Both forms let the buyer terminate, extend, or accept the property with an insurance credit if a casualty loss can't be remedied by the Closing Date. But the extension caps differ: 24-20 caps the extension at 15 days; 23-20 caps it at 45 days. That's consistent with 23-20 covering a property that isn't finished yet.
What both forms share
- Insulation disclosure. Required by Federal Trade Commission regulations — either "as shown in the attached specifications" or itemized R-values for exterior walls, other walls, ceilings, floors, and other insulated areas.
- Residential service contracts. Buyer may purchase one; if they do, seller reimburses the buyer at closing up to a negotiated dollar cap.
- Certificate of mold remediation. If the property has been remediated for mold, the seller must provide every mold-damage-remediation certificate issued under §1958.154, Occupations Code, during the 5 years preceding the sale.