That looked right at 11pm...
(Texas Contracts & Forms)
(Texas Contracts & Forms)
This determines when contract deadlines officially begin.
What is the Effective Date?
This buyer life event can eliminate financing termination rights. Usually found when theLender does his _______ Verification.
What is changing jobs or taking on new debt during escrow?
If you execute a contract on May 1st, when would the due date be for earnest money?
This agency regulate Real Estate Licensees in Texas.
What is TREC
This paint color on fence posts can legally signal “No Trespassing” in Texas.
What is purple paint?
This payment gives the buyer the unrestricted right to terminate during the option period.
What is the Option Fee?
In Texas, this may legally allow someone else to use part of your land forever.
What is an easement?
This allows a buyer to terminate for inspection reasons without explanation.
What is Option Period?
This is required before advertising a property for sale.
What is a valid listing agreement?
This exemption can trigger rollback taxes if removed or changed.
What is an agricultural exemption?
If both parties continue performing after a missed deadline, this legal concept may apply.
What is waiver of strict performance?
If a seller agrees to repairs, this must be used to make them enforceable.
What is a written amendment executed by both parties?
A financing denial caused by buyer negligence may eliminate this right.
What is the right to terminate under the financing addendum?
The Acronym for that agency is T.R.E.C
What is the Texas Real Estate Commission?
In Texas, this type of HOA still requires the HOA addendum.
What is a voluntary HOA?
This is required for a termination to be valid under Texas contracts.
What is written notice delivered to the other party?
This seller failure can give a buyer a statutory termination right if they don't give ______ 3 days after after an executed contract?
What is late or missing Seller’s Disclosure?
Failure to object to title issues by this deadline may waive the objection.
What is the title objection deadline?
In Texas, this is the maximum amount of time a property may remain in “Coming Soon” status in the MLS before it must be moved to Active or withdrawn.
What is 14 days?
In Texas, this can exist without a recorded HOA and still restrict building.
What is a deed restriction?
This happens when a seller accepts late option money without objection.
What is possible waiver of the option deadline?
A low appraisal alone does not force this action by the seller.
What is a price reduction?
Deadlines are counted starting the day after this occurs.
What is the Effective Date?
This is considered a violation: giving legal advice or performing tasks outside licensure
What is practicing law without a license?
In Texas, this mistake can cost an agent their license-even those "everyone does it."
What is practicing law without a license?