Contracts
In a Texas residential contract, the option period gives the buyer the right to:
AExtend the closing date without cost
BTerminate the contract for any reason within the specified period✓ Correct
CInspect the property before the contract is executed
DRequest a price reduction for any discovered defects
Explanation
Texas contracts include an option period (for a fee paid to the seller) during which the buyer has the unrestricted right to terminate the contract for any reason and receive a refund of the earnest money (not the option fee).
Related Texas Contracts Questions
- A Texas net listing is:
- A Texas buyer in a new construction contract uses a builder's contract rather than a TREC promulgated form. The buyer's agent should advise the buyer to:
- The Seller's Disclosure Notice (TREC OP-H) is NOT required for which type of Texas sale?
- A Texas buyer who has signed a contract with an option period wants to hire a home inspector. The buyer should hire the inspector:
- The TREC residential contract's financing deadline is the date by which the buyer must receive written financing approval. If this date passes without approval, the buyer must notify the seller in writing or:
- Under the Texas TREC contract, a buyer's failure to close due to default (no financing or inspection contingency protection remaining) entitles the seller to:
- In a Texas residential contract, the option period grants the buyer the right to:
- A Texas real estate purchase contract is considered 'executed' when:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →