Under the TREC contract, Paragraph 21 (Notices) specifies that notices may be sent to which addresses?
Correct Answer
C) The addresses specified for each party in the contract
Paragraph 21 specifies that notices must be sent to the addresses listed in the contract for each party. These addresses are filled in during contract preparation and may include multiple contact methods.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
Equitable title is the buyer's interest in a property after a purchase contract is signed but before closing, giving the buyer the right to acquire legal title in the future. The seller retains legal title until the deed is delivered at closing.
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