Promulgated Contract Forms: Final Exam Q&A Latest 2025

Content Preview

Promulgated Contract Forms: Final Exam | Q&A Latest 2025/2026 | 100% PASS When earnest money is deposited with an escrow agent, the escrow agent: - Answer -A) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does the Texas Real Estate License Act define the first face-to-face meeting with required agency disclosure? - Answer -When a substantive dialogue about a specific real property occurs If a property was built before 1978, what specific addendum is required? - Answer -Disclosure of Lead-Base Paint Addendum The Buyer's Agency Agreement allows an agent to show the same properties to competing clients - Answer -true The Third Party Financing Condition Addendum is not used with Answer -Seller financing The Texas Real Estate Commission (TREC) promulgates an addendum to be used in a short sale. This Short Sale Addendum is to be signed by: Answer -Buyer and seller In Paragraph #14 of the Residential Contract (casualty loss), If a seller cannot complete the repairs within the time limit, the buyer has the option of: - Answer -Terminating the contract