Contracts
A Texas buyer and seller enter into a contract with a 14-day option period. The buyer wants to extend the option period by 7 more days. This requires:
AThe buyer's agent to notify TREC
BA written amendment to the contract signed by both parties specifying the extension and any additional option fee✓ Correct
COnly the buyer's written request to the title company
DVerbal agreement between the parties that is later ratified in writing
Explanation
Any change to the terms of an executed TREC contract (including extending the option period) requires a written amendment signed by all parties. Verbal agreements to modify real estate contracts are generally unenforceable.
Related Texas Contracts Questions
- A Texas buyer who has signed a contract and paid an option fee decides to exercise their right to terminate on the last day of the option period. To validly exercise the right, the buyer must:
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