Contracts
In a Texas residential contract, the option period grants the buyer the right to:
ALock in the purchase price for 30 days
BTerminate the contract for any reason and receive the option fee back
CTerminate the contract for any reason without forfeiting the option fee✓ Correct
DInspect the property and request repairs only
Explanation
During the option period in Texas, the buyer has the unrestricted right to terminate the contract for any reason. The option fee is paid to the seller and is generally not refundable upon termination, but the earnest money is returned.
Related Texas Contracts Questions
- Under the TREC residential contract, if the seller makes repairs that are not completed satisfactorily, the buyer's primary remedy before closing is to:
- In Texas, when a contract for sale is executed and all conditions have been satisfied but the closing has not yet occurred, the legal relationship of the parties is:
- In Texas real estate, a 'listing' agreement authorizes the broker to act as the seller's agent. Which type of listing gives the broker the most protection (exclusive right to a commission)?
- Under the TREC Residential Condominium Contract, the buyer has the right to review which condominium document(s) during their review period?
- In Texas, the TREC-required contract form for a condominium purchase is:
- The TREC Seller Financing Addendum is used when:
- Under the Texas One to Four Family contract, the default for who pays the escrow fee is:
- In Texas, a contract for the sale of real estate must be in writing to be enforceable under the:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →