Under the TREC One to Four Family Residential Contract, Paragraph 7D addresses acceptance of property condition. If the buyer does not terminate during the option period, what is the effect regarding property condition?
Correct Answer
A) The buyer accepts the property in its present condition, subject to the seller's disclosure obligations and repair obligations in the contract
If the buyer does not terminate during the option period, the buyer accepts the property in its present condition. However, this does not waive the seller's disclosure obligations or any repair commitments agreed upon in the contract.
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Which of the following best describes the purpose of the TREC One to Four Family Residential Contract?
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Agent Kim completes a TREC One to Four Family Residential Contract where the buyer is purchasing a property with a pool and spa. Under Paragraph 2, how should the pool and spa be addressed?