Chapter 5

Question 1

where the Buyer’s Temporary Residential Lease form in the contract noted ?

Answer 1

POSSESSION paragraph of the contract.

Question 2

seller temporary residential lease term ( timing)

Answer 2

BEGIN date of closing and funding / ending date not more than 90 days .

Question 3

Deposit ( seller residential lease term) Temporary

Answer 3

deposit seller give buyer at closing
Deduction for the damage=> 30 days after the tenant move out of the property in writing

Question 4

Condition of the property ( seller residential lease term) Temporary

Answer 4

buyer should do the final walk through of the property prior to the closing so both party aware of the condition of the property .

Question 5

Indemnity ( seller residential lease term) temporary

Answer 5

Tenant will be responsible for all injuries or damage happened during the lease agreement.

Question 6

Holding over (seller temporary residential lease term)

Answer 6

Charge per day penalty / higher amount of the daily rental

Question 7

Notice in the seller temporary residential lease term

Answer 7

enter the addresses of the landlord and the tenant. where they receive mailings and notifications.

Question 8

A buyer leases a property for a period of time and then exercises an option to buy. What is TREC’s position regarding the agent’s role in the option contract?

Answer 8

TREC prohibits real estate agents from getting involved