Which of the following transactions does NOT require the use of a TREC promulgated contract form by a Texas license holder?
Correct Answer
B) The sale of a 10-unit apartment building in Austin
TREC does not promulgate a contract form for the sale of properties with more than four residential units. A 10-unit apartment building is a commercial/multifamily property beyond the scope of the One to Four Family Residential Contract, so no promulgated form is required.
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Previous Question
A buyer asks her Texas sales agent to draft an indemnification clause and add it to the TREC promulgated contract. The sales agent explains that she cannot draft legal language. The buyer then asks the agent to copy an indemnification clause from a previous transaction and paste it into the current contract. Should the agent comply?
Next Question
License holder Garcia is working as an intermediary in a transaction where she represents both the buyer and seller. The buyer wants to add a special provision limiting the seller's remedies if the buyer defaults. Garcia should: