# Real Estate Exam [Texas] 34, Seller Financing Addendum

Page: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-texas-34-seller-financing-addendum
Text version: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-texas-34-seller-financing-addendum.md
Podcast: [Real Estate Exam Prep](https://stenobird.com/podcast/real-estate-exam-prep-7644240)
Published: 2026-05-19T00:21:14+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/bc821452-df64-4c43-9b8d-39bfc0099820.mp3
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Duration seconds: 203

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between a Promissory Note (the IOU) and a Deed of Trust (the security instrument) in a Texas seller-financed deal. - How the Due-on-Sale clause protects the seller by preventing the buyer from transferring the property without the seller's consent. - The seller's right under the addendum to review and approve the buyer's credit as a contract contingency. - Where key financial terms like interest rate, payment schedule, and loan amount are formally documented in the transaction. - Why Texas real estate transactions use a Deed of Trust with a power of sale, allowing for non-judicial foreclosure, instead of a traditional mortgage. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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