Broker Martinez lists a commercial office building for sale. A buyer's agent contacts Martinez to submit an offer. Martinez's sales agent asks which contract form to use. Which statement is correct regarding TREC promulgated forms for this transaction?
Correct Answer
D) No TREC promulgated form is required because TREC does not promulgate a form for commercial transactions
TREC promulgated forms are designed for specific residential and land transaction types. TREC does not promulgate a contract form for commercial office building transactions. In this case, the parties may use a TAR commercial form or an attorney-drafted contract.
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Previous Question
A Texas sales agent is helping a buyer purchase a single-family home. The buyer asks the agent to prepare the purchase contract. Under TREC rules, which form must the sales agent use?
Next Question
A buyer in Texas hires an attorney to draft a custom purchase contract for a single-family home. The buyer's sales agent is uncomfortable because a TREC promulgated form exists for this transaction. What should the sales agent do?