Agent Nguyen is working with a buyer who wants to purchase a duplex in Fort Worth. The duplex has two rental units. Which TREC promulgated form should Agent Nguyen use?
Correct Answer
B) The One to Four Family Residential Contract (Resale)
A duplex is a two-unit residential property, which falls within the scope of the TREC One to Four Family Residential Contract (TREC 20-16). This form covers residential properties with one to four dwelling units.
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Previous Question
A Texas license holder uses the correct TREC promulgated form but accidentally leaves Paragraph 7 (Property Condition) completely blank without selecting any options. Both parties sign the contract. What is the status of the contract?
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A license holder in Texas assists a client with a for-sale-by-owner (FSBO) transaction where the license holder is only providing limited services (filling out paperwork). The client wants to use a contract downloaded from the internet. The license holder should: