Texas Promulgated Forms with complete solutions 2023

Which of these promulgated forms does NOT include "time is of the essence"? - Answer- Loan Assumption Addendum A couple starts celebrating the sale of their home after their listing agent calls them with the news that they've received an acceptable offer. The listing agent says he is coming over to get their acceptance and signatures. However, by the time the agent arrives the sellers are completely inebriated. The agent has them sign the contract and then takes it to the title company. This contract is - Answer- voidable Which of the following is TRUE for the statute of limitations for contracts for the sale of real estate and oral contracts for leases of less than one year? - Answer- The statute of limitations is four years for the sale and two years for the lease. TREC promulgates the Loan Assumption Addendum. In a transaction where a buyer is assuming a seller's loan - Answer- TREC's Loan Assumption Addendum is required. If a seller gave a letter to the listing agent with instructions not to deliver any offers for less than $250,000 and the listing agent receives an offer for $249,500, should he deliver it? - Answer- The TREC allows the listing agent to reject this offer because the seller has given written approval How many promulgated contracts does TREC issue? - Answer- 6 Title policy information is in paragraph __ - Answer- 6 The addenda included in the agreement are in paragraph __ - Answer- 22 The closing date is in paragraph __ - Answer- 9 The legal description of the property is in paragraph __ - Answer- 2 Earnest money is addressed in paragraph __ - Answer- 5 The names of the sellers and buyers, including marital status, are in paragraph __ - Answer- 1 License holder disclosure is addressed in paragraph __ - Answer- 4 The amount of the cash down payment is in paragraph __ - Answer- 3