The termination option in Paragraph 23 of the One to Four Family Residential Contract (Resale) can be a useful safety net for you clients. It’s also a source of potential confusion and generates a number of calls to the TAR Legal Hotline.
For example, do you know if a buyer has to pay an additional fee to extend an option period? You can find the answer and explanation in the August Texas REALTOR® Magazine Minute.
Read the August issue of Texas REALTOR® magazine for the answers to 10 more common questions related to the termination option.