Contracts
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:
AKeep the option fee only
BTerminate the contract and either keep the earnest money or sue for specific performance or damages✓ Correct
CRelist the property immediately with no legal recourse against the buyer
DDemand the full commission from the buyer
Explanation
When a buyer defaults on a Texas TREC contract (without an applicable contingency protection), the seller may terminate the contract and retain the earnest money as liquidated damages, or alternatively seek specific performance or actual damages through legal action.
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