Under the TREC New Home Contract (Incomplete Construction), the buyer wants to know when they can conduct inspections. The contract provides that:
Correct Answer
B) The buyer may have inspections performed at reasonable times during and after construction
The TREC New Home Contract (Incomplete Construction) allows the buyer to have inspections performed at reasonable times during and after construction. This ensures the buyer can verify the quality of workmanship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
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