Sales agent Rodriguez is asked to prepare a contract for the sale of a 200-acre cattle ranch in rural Texas. Which TREC promulgated form should Rodriguez use?
Correct Answer
A) The Farm and Ranch Contract
The TREC Farm and Ranch Contract is specifically designed for transactions involving agricultural properties such as cattle ranches. This form includes provisions for crops, livestock, farm equipment, water rights, and other agricultural considerations unique to farm and ranch transactions.
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Previous Question
A buyer and seller in Texas have agreed on all terms of a residential sale. The buyer's agent fills in the blanks on the TREC promulgated contract and also adds two sentences to Paragraph 11 (Special Provisions) stating that the seller will repair a leaking faucet before closing. Has the agent acted properly?
Next Question
A Texas license holder prepares a TREC promulgated contract for a residential sale. Before the buyer signs, the license holder strikes through the paragraph regarding the survey requirement and writes 'N/A - Survey Waived' in the margin. What is the potential consequence for this license holder?