Rollback taxes are discussed in a both New Home Contracts b Unimproved Property

Rollback taxes are discussed in a both new home

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48.Rollback taxes are discussed in a.both New Home Contracts. b.Unimproved Property Contract. c.Farm and Ranch Contract. d.all of these.
49.Why are improvements and accessories not addressed in paragraph 2 of the two TREC New Home Contracts? 50.Which paragraph is different in all six TREC contracts? 51.Which TREC contract should be used to buy or sell a new home if closing will happen before the builder is finished building the house? 52.How is paragraph 13 of the Residential Condominium Contract different from the One to Four Family Residential Contract? a.It addresses cash reserves from regular condominium assessments. b.There is a possibility of the assessment of rollback taxes. c.Taxes for the current year are not prorated. d.Taxes for the current year are prorated differently. 53.When buyers purchase a condominium, they are buying the 54.Under the TREC New Home Contract (Incomplete Construction) how are change orders that result in a lower sales price addressed in the contract? 55.How long does the buyer have to terminate the contract after he receives the condominium documents in the TREC Residential Condominium Contract?
56.A buyer and seller enter into an agreement for buyer to purchase seller's 2,000-acre ranch using the TREC Farm and Ranch Contract. The parties agree that the sales price is calculated at $2,000 per acre and that the sales price will be adjusted based on the survey. The buyer gets a survey done which indicates that the ranch is 2,400 acres. The seller wants to adjust the sales price accordingly and buyer disagrees. What is buyer’s option under the contract? a.Buyer may not terminate because she agreed to the adjustment. b.Buyer may not terminate because the variance is less than 10%. c.Buyer may terminate with written notice to the seller. d.Buyer may terminate and forfeit the earnest money.

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