SCh5 use An Understanding Of Standard Contract Forms Flashcards
1
Q
What are the exceptions to the Standard Contract forms that license holders must use?
A
Those prepared by attorneys from this state or any other state
Those specified by governmental agencies, property owners or the lawyers
2
Q
Who does TREC not have forms for (3)?
A
Commercial transactions
Co-ops
Mobile homes
3
Q
Which organization writes the promulgated contract forms?
A
Broker lawyer committee
4
Q
Which agency promulgates the promulgated contract forms?
A
TREC
5
Q
Under what situation or circumstance can a backup offer become effective?
A
The previous contract is terminated
6
Q
If a broker has more than one offer on a listed property, is there any required order a presentation?
A
No
