Contracts
Under the TREC Condominium Contract, the buyer has a right to review the condominium documents. If the buyer does not approve the condominium documents, they may:
ANot terminate for this reason after signing
BTerminate and receive the earnest money within the review period specified in the contract✓ Correct
CRenegotiate the price based on the documents
DOnly terminate if the documents contain illegal provisions
Explanation
TREC's Condominium Contract provides a review period during which the buyer can review the condominium documents (declaration, bylaws, rules, financial statements). If the buyer disapproves, they may terminate within the specified period and receive their earnest money back.
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