In a TREC One to Four Family Residential Contract, the parties agree that the seller will provide a residential service contract (home warranty). Under Paragraph 7G, who pays for the residential service contract?
Correct Answer
B) The party specified in the contract pays, which may be either buyer or seller
Under Paragraph 7G, the contract specifies which party will pay for the residential service contract and the maximum cost. This is negotiable between the parties and must be specified in the contract.
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Previous Question
Under the TREC One to Four Family Residential Contract, the seller is required to deliver a Seller's Disclosure Notice to the buyer. If the seller fails to deliver the notice, which Texas statute gives the buyer remedies?
Next Question
Under the TREC One to Four Family Residential Contract, Paragraph 19 addresses representations. Both buyer and seller make representations including that the contract is not subject to any other agreement. If a party makes a false representation, what is the consequence?