Sales agent Lee is preparing a TREC contract and notices that the form includes a section about the seller's disclosure of lead-based paint. The property was built in 2015. What should Lee do with this section?
Correct Answer
D) Leave the section as is and check the box indicating the disclosure does not apply because the property was built after 1978
The federal Lead-Based Paint Disclosure requirement applies only to properties built before 1978. The TREC form includes an option to indicate the property is exempt because it was built after 1978. The license holder should check the appropriate box without modifying the form.
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Previous Question
A government entity is selling surplus property (a single-family home) at a public auction. A Texas license holder representing a buyer at the auction is asked to sign the government's standard contract form. The form was not drafted by an attorney but is the government's standard form used for all surplus property sales. What should the license holder do?
Next Question
A buyer and seller in a Texas transaction both agree they want to use a contract form created by a paralegal working in the buyer's attorney's office. The attorney has reviewed and approved the contract. Does this satisfy the attorney-drafted exception to TREC's mandatory use requirement?