Texas Promulgated Contracts Exam Questions with 100% Correct Answers 2023

The TREC PROMULGATED CONTRACT FORMS - Answer-ARE DRAFTED BY THE BROKER-LAWYER COMMITTEE IN A LEASE WITH A RIGHT OF FIRST REFUSAL PROVISION - Answer-THE TENANT HAS THE RIGHT TO MATCH OR BETTER ANY OFFER THE LANDLORD RECEIVES TO PREVENT THE PROPERTY FROM BEING SOLD TREC promulgated contract forms provide for - Answer-third party financing, assumption seller finance a lender can withdraw the approval of a property - Answer-at any time prior to closing the third party financing addendum for credit approval is used when - Answer-the buyer is obtaining any kind of financing a new survey is always required for all transactions - Answer-false the number of days allowed for objections to title or survey is - Answer-the number of days entered in paragraph 6 trec has promulgated forms for - Answer-residential transactions TREC promulgated contracts allow the buyer to have the property inspected - Answer-by inspectors licensed by trec or otherwise permitted by law when a buyer defaults on a contract and the seller choses to retain the buyer's earnest money, the seller has agreed to - Answer-liquidated damages when one party defaults under a contract, the other party is known as - Answer-injured party earnest money is first applied to the - Answer-buyer's down payment the escrow agent is - Answer-not a party to the transaction for a valid option to exist - Answer-the option fee must be paid directly to the seller or listing broker all blanks in paragraph 23 must be filled