Contracts
When a Texas seller counters a buyer's offer, the original offer is:
AStill valid until the buyer responds
BAutomatically terminated and replaced by the counteroffer✓ Correct
CHeld in escrow by the title company
DForwarded to TREC for review
Explanation
A counteroffer is a rejection of the original offer combined with a new offer. The original offer is terminated and cannot be accepted once a counteroffer has been made.
Related Texas Contracts Questions
- The TREC contract's Third Party Financing Addendum allows the buyer to terminate if they are unable to obtain financing approval within a specified period. The buyer must notify the seller of the inability to obtain financing:
- In a Texas residential contract, the option period gives the buyer the right to:
- In a Texas transaction, the 'effective date' of a real estate contract is defined as:
- A Texas real estate sales contract becomes binding when:
- The TREC One to Four Family Residential Contract is:
- In Texas, the TREC-required contract form for a condominium purchase is:
- Under the Texas One to Four Family Residential Contract, the default number of days for the title company to deliver title commitment after the effective date is:
- In a Texas real estate transaction, 'specific performance' as a remedy means:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →