In a TREC One to Four Family Residential Contract, the buyer and seller agree the seller will make certain repairs before closing. The contract is signed and the option period has expired. Before closing, the buyer discovers the seller has not made the agreed-upon repairs. Under the contract, the buyer may:
Correct Answer
B) Treat the seller's failure as a default and exercise remedies under Paragraph 15
If the seller fails to perform agreed-upon repairs, this constitutes a default under the contract. The buyer may exercise the remedies available under Paragraph 15 (Default), which include specific performance, termination, or other relief as provided by law.
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Under the TREC One to Four Family Residential Contract, Paragraph 14 addresses casualty loss. If the property suffers substantial damage from a fire before closing, what rights does the buyer have?
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Under the TREC One to Four Family Residential Contract, Paragraph 11 (Special Provisions) allows a license holder to insert which type of content?