ContractsQuestion 49 of 120
In Texas, residential real estate sales contracts most commonly use forms that are:
a.Drafted individually by each buyer's attorney
b.Promulgated (standardized) by TREC for license holders to use
c.Provided only by the buyer's lender
d.Written by the local Realtor association and mandatory statewide
Explanation
TREC promulgates standardized contract forms that Texas license holders are generally required to use for common residential transactions. This promotes consistency and protects consumers, though the exact forms are periodically updated.
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Related questions on this topic
- Which of the following is NOT one of the essential elements required for a valid, enforceable real estate contract?
- The legal doctrine requiring that contracts for the sale of real estate be in writing to be enforceable is the:
- A license holder who is not a licensed attorney may generally:
- Earnest money in a real estate contract functions primarily as:
- A financing contingency in a purchase contract protects the buyer by:
- The Texas 'option period' (termination option) in the standard residential contract generally allows the buyer to:
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