Contracts
The TREC One to Four Family Residential Contract is:
AAn optional form that licensees may use if they choose
BA promulgated form that Texas licensees are required to use for residential transactions✓ Correct
CA form created by the Texas Association of Realtors only
DRequired only for transactions with FHA financing
Explanation
TREC promulgates standard contract forms that Texas licensees are required to use for covered transactions. Using unauthorized or outdated forms can be a license law violation. Attorneys (not licensees) may use non-TREC forms.
Related Texas Contracts Questions
- The TREC Seller Financing Addendum is used when:
- In a Texas real estate transaction, when a buyer defaults and the seller elects to terminate the contract and retain the earnest money, this is generally treated as:
- In a Texas real estate transaction, earnest money that is not in dispute is released when:
- A Texas buyer terminates a contract after the option period using the Third Party Financing Addendum's financing contingency. The buyer is entitled to:
- Under the TREC residential contract, if the property is damaged by fire before closing, the risk of loss is typically on:
- In Texas, which addendum is used when a buyer's purchase is contingent on the sale of their current home?
- In Texas, a 'counter-offer' letter marked as counter-offer #3 indicates:
- Which TREC addendum would a Texas buyer use to address a property located in a municipal utility district (MUD)?
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