Contracts
Under the TREC contract, who is responsible for maintaining the property between the effective date and closing?
AThe buyer is responsible for all maintenance
BThe seller must maintain the property in its present condition and operate any income-producing components in the ordinary course of business✓ Correct
CThe title company assumes maintenance responsibility
DThe real estate agents are jointly responsible
Explanation
TREC contracts require the seller to maintain the property in its present condition from the effective date to closing, including maintaining income-producing components in the ordinary course of business and not making material changes without buyer's written consent.
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