A relocation company purchases homes from transferred employees and then resells them. The company's attorney has drafted a standard purchase contract for all such transactions. A Texas license holder listing one of these properties receives an offer using the company's attorney-drafted contract. Should the license holder accept this contract?
Correct Answer
B) Yes, because the attorney-drafted contract exception applies to contracts prepared by any party's attorney
The attorney-drafted contract exception under TREC Rules §537.11(b) is not limited to individual parties. When a relocation company (as a principal) requires the use of a contract drafted by its attorney, this falls within the exception to the mandatory use of promulgated forms.
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In a Texas residential transaction, a sales agent is asked to help the buyer and seller negotiate an extension of the closing date. The original contract has already been signed. The agent should:
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