A buyer in Texas signs the TREC One to Four Family Residential Contract with a 10-day option period. On Day 8, the buyer's inspector discovers significant termite damage. The buyer wants to request repairs rather than terminate. Under the contract, the buyer should:
Correct Answer
D) Submit the repair request through an amendment to the contract before the option period expires
The buyer should use the TREC Amendment form to request repairs before the option period expires. This preserves the buyer's option to terminate if the repair negotiations are unsuccessful. The amendment allows the parties to negotiate changes to the contract terms.
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Under the TREC One to Four Family Residential Contract, Paragraph 13 addresses prorations. Which items are typically prorated at closing?
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Under the TREC One to Four Family Residential Contract, Paragraph 8 addresses brokers' fees. This paragraph typically states that the broker's fee is governed by: