Promulgated Contracts Exam | 2025-2026 LATEST UPDATED| 150
COMPLETE QUESTIONS AND ANSWERS | 100% RATED
CORRECT | 100% VERFIED | ALREADY GRADED A+|GET A+
Accessories in the real estate contract - definition, features, disposition -
(answer)PARAGRAPH 2.(C) Describes accessories, which, while not necessarily
permanently installed or built-in, are commonly conveyed to the buyer in the sale
Window air conditioning units, stove, fireplace screen, curtains and rods, blinds,
window shades, door keys, mailbox keys, above ground pool, swimming pool
equipment and maintenance accessories, artificial fireplace logs, and controls:
garage door, entry gates, and other accessories and improvements
Items to be retained by the Seller as specified in the contract - (answer)Paragraph
2.D EXCLUSIONS: The following improvements and accessories will be retained
by the seller and must be removed prior to delivery of possession
______________________
,Paragraph 3.B. - contents - (answer)The sum of all financing from all sources.
Insert only the amount actually being financed.
Paragraph 4 - disclosure of agency coupled with an interest and family
relationships - (answer)LICENSE HOLDER DISCLOSURE: Texas law requires a
real estate license holder who is a party to a transaction or acting on behalf of a
spouse, parent, child, business entity in which the license holder owns more than
10%, or a trust for which the license holder acts as trustee or of which the license
holder or the license holder's spouse, parent or child is a beneficiary, to notify the
other party in writing before entering into a contract of sale. Disclose if applicable:
.
Paragraph 5 - features - (answer)PARAGRAPH 5. EARNEST MONEY: Earnest
money is a "deposit" paid upfront by Buyer to show that he or she is serious in his
or her intent. There is no standard for the dollar amount of earnest money, but it is
often in the range of 1% of the purchase price. Insert the amount of earnest money
and the name and address of the title company. If additional earnest money is
required, enter the amount and the number of days. Time is of the essence for this
paragraph
,The purpose and use of Paragraph 6 - (answer)Title policy, (title) commitment, and
endorsements
https://www.hoodhomesblog.com/contracts/title-policy-and-survey/
Number of days for the title company to deliver the title commitment -
(answer)PARAGRAPH 6.B. COMMITMENT: The title company has 20 days from
the date that they receive the contract to furnish a commitment to the buyer for title
insurance. This paragraph also provides for an automatic extension of the delivery
period for up to 15 days or 3 days prior to closing if the commitment cannot be
delivered within the 20 days allowed
TREC rules regarding the buyer's use of inspectors - (answer)Property condition is
one of the more important considerations when purchasing residential real estate.
All TREC-promulgated contracts stipulate that the buyer is purchasing the property
"as is."
, Paragraph 7A.
ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and
Buyer's agents access to the Property at reasonable times. Buyer may have the
Property inspected by inspectors selected by Buyer and licensed by TREC or
otherwise permitted by law to make inspections. Any hydrostatic testing must be
separately authorized by Seller in writing. Seller at Seller's expense shall
immediately cause existing utilities to be turned on and shall keep the utilities on
during the time this contract is in effect.
What are good funds? - (answer)PARAGRAPH 9.B.(2) Buyer is to bring "good
funds" to closing. Good funds is described as a cashier's check or wire transfer.
Title companies may accept a small personal check from a buyer. Check with the
title company for their policy
Lender required repairs as addressed in the sales contract - (answer)PARAGRAPH
7.E.
LENDER REQUIRED REPAIRS AND TREATMENTS: Lender required repairs,
if any, are a negotiated expense item between the parties. If the lender repairs
exceed 5% of the sales price, the buyer may terminate the contract and receive a
COMPLETE QUESTIONS AND ANSWERS | 100% RATED
CORRECT | 100% VERFIED | ALREADY GRADED A+|GET A+
Accessories in the real estate contract - definition, features, disposition -
(answer)PARAGRAPH 2.(C) Describes accessories, which, while not necessarily
permanently installed or built-in, are commonly conveyed to the buyer in the sale
Window air conditioning units, stove, fireplace screen, curtains and rods, blinds,
window shades, door keys, mailbox keys, above ground pool, swimming pool
equipment and maintenance accessories, artificial fireplace logs, and controls:
garage door, entry gates, and other accessories and improvements
Items to be retained by the Seller as specified in the contract - (answer)Paragraph
2.D EXCLUSIONS: The following improvements and accessories will be retained
by the seller and must be removed prior to delivery of possession
______________________
,Paragraph 3.B. - contents - (answer)The sum of all financing from all sources.
Insert only the amount actually being financed.
Paragraph 4 - disclosure of agency coupled with an interest and family
relationships - (answer)LICENSE HOLDER DISCLOSURE: Texas law requires a
real estate license holder who is a party to a transaction or acting on behalf of a
spouse, parent, child, business entity in which the license holder owns more than
10%, or a trust for which the license holder acts as trustee or of which the license
holder or the license holder's spouse, parent or child is a beneficiary, to notify the
other party in writing before entering into a contract of sale. Disclose if applicable:
.
Paragraph 5 - features - (answer)PARAGRAPH 5. EARNEST MONEY: Earnest
money is a "deposit" paid upfront by Buyer to show that he or she is serious in his
or her intent. There is no standard for the dollar amount of earnest money, but it is
often in the range of 1% of the purchase price. Insert the amount of earnest money
and the name and address of the title company. If additional earnest money is
required, enter the amount and the number of days. Time is of the essence for this
paragraph
,The purpose and use of Paragraph 6 - (answer)Title policy, (title) commitment, and
endorsements
https://www.hoodhomesblog.com/contracts/title-policy-and-survey/
Number of days for the title company to deliver the title commitment -
(answer)PARAGRAPH 6.B. COMMITMENT: The title company has 20 days from
the date that they receive the contract to furnish a commitment to the buyer for title
insurance. This paragraph also provides for an automatic extension of the delivery
period for up to 15 days or 3 days prior to closing if the commitment cannot be
delivered within the 20 days allowed
TREC rules regarding the buyer's use of inspectors - (answer)Property condition is
one of the more important considerations when purchasing residential real estate.
All TREC-promulgated contracts stipulate that the buyer is purchasing the property
"as is."
, Paragraph 7A.
ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and
Buyer's agents access to the Property at reasonable times. Buyer may have the
Property inspected by inspectors selected by Buyer and licensed by TREC or
otherwise permitted by law to make inspections. Any hydrostatic testing must be
separately authorized by Seller in writing. Seller at Seller's expense shall
immediately cause existing utilities to be turned on and shall keep the utilities on
during the time this contract is in effect.
What are good funds? - (answer)PARAGRAPH 9.B.(2) Buyer is to bring "good
funds" to closing. Good funds is described as a cashier's check or wire transfer.
Title companies may accept a small personal check from a buyer. Check with the
title company for their policy
Lender required repairs as addressed in the sales contract - (answer)PARAGRAPH
7.E.
LENDER REQUIRED REPAIRS AND TREATMENTS: Lender required repairs,
if any, are a negotiated expense item between the parties. If the lender repairs
exceed 5% of the sales price, the buyer may terminate the contract and receive a
