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?
Correct Answer
A) The pool and spa are included as improvements to the property under Paragraph 2
Pools and spas are permanent improvements to the property and are included under Paragraph 2 of the TREC contract, which covers the property and its improvements.
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Previous Question
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?
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A buyer and seller execute a TREC One to Four Family Residential Contract. The contract specifies a closing date of April 30. On April 25, the buyer's lender informs the agent that the loan will not be approved by April 30 due to a documentation delay. The buyer has not received loan denial. Under the contract provisions, the buyer: