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Real Estate Contracts Ch 7

Terms in this set (12)

The term of a Seller's Temporary Residential Lease commences on what date...?
Date the property is closed and funded
According to the Buyer's Temporary Residential Lease, the buyer must pay the seller the full amount of rent by what date...?
The move in date
Who serves as the landlord in a Buyer's Temporary Residential Lease...?
Seller
If the parties to a transaction sign an Addendum For Sale Of Other Property By Buyer, and the seller accepts a written offer from another buyer, the seller must notify the buyer and...?
Buyer must waive the contingency created by the addendum
The Addendum For Reservation of Oil, Gas, and Other Minerals favors which of the following parties...?
Seller
What form should be used if a buyer would like to back out of a contract after the seller refuses to fix any repairs noted during the inspection period...?
Notice of Buyers Termination of Contract
According to the Notice of Buyer's Termination of Contract, which of the following are grounds for the buyer to terminate the purchase contract...?
Buyer doesn't want to be subject to mandatory membership is property owners association
John recently entered into a contract to purchase Abby's house. If John and Abby mutually agree to terminate the purchase contract, what promulgated form should be used...?
No form
Which of the following addenda is pursuant to Section 33.135 of the Texas Natural Resources Code...?
Addendum for Coastal Area property
Who owns any submerged lands along a coastal waterfront...?
State
A ......... means the seller's net proceeds at closing will be insufficient to pay the balance of the seller's mortgage loan?
Short sale
According to the Short Sale Addendum, the seller's net proceeds are equal to the sales price minus...?
Sellers full closing costs
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