Contracts
The Tennessee Real Estate Commission's approved contract forms are:
AMandatory for all residential transactions
BAvailable for use but not required — parties may use other properly prepared contracts✓ Correct
CRequired only for FHA and VA transactions
DRequired for all commercial transactions
Explanation
Tennessee does not mandate the use of specific TREC-approved contract forms. Parties may use any properly prepared contract. However, Tennessee REALTORS® and other organizations provide standard forms that are widely used in residential transactions.
Related Tennessee Contracts Questions
- A real estate contract becomes void if:
- Under Tennessee law, a contract for the sale of real estate must be in writing to be enforceable under the:
- A buyer who makes an offer that is accepted signs a contract with an appraisal contingency. The property appraises below the purchase price. The buyer's options typically include:
- In Tennessee, who is typically responsible for prorating homeowner association (HOA) dues at closing?
- A commercial lease that provides the tenant with a 'first right of refusal' to purchase the property means the tenant:
- In Tennessee, a listing agreement that automatically renews unless canceled is called a:
- A buyer who wants to purchase a property quickly may include a 'time is of the essence' clause to ensure:
- An option contract in real estate gives the optionee:
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