Contracts
Which TREC addendum allows a buyer to terminate a contract if the property's lender-ordered appraisal comes in below the contract price?
AThird Party Financing Addendum
BAddendum Concerning Right to Terminate Due to Lender's Appraisal✓ Correct
CSeller's Temporary Residential Lease
DProperty Inspection Addendum
Explanation
TREC's Addendum Concerning Right to Terminate Due to Lender's Appraisal (also sometimes addressed in the Third Party Financing Addendum) allows a buyer to terminate and recover earnest money if the lender's appraisal comes in below the contract price.
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