Texas Real Estate Regulations

A new real estate salesperson learning about real estate law knows that certain documents must be in writing to be enforceable. One of these laws, the Internal Revenue Code, states that: contracts for the sale of goods of $1,000.00 or more must be in writing express contracts must be in writing implied contracts must be in writing an independent contract agreement between a salesperson and his or her broker must be in writing Jack, the seller, enters into a real estate sales contract with Jill, the buyer, on June 1 . As part of the agreement, Jack provides a Seller's Disclosure of Property Condition two days after the effective date of the contract. Jill can: not terminate the contract for any reason terminate the contract for any reason within 7 days after receiving the notice or prior to closing, whichever occurs first, and Jack keeps the earnest money terminate the contract for any reason within 7 days after receiving the notice or prior to closing, whichever occurs first, and Jill receives a return of the earnest money terminate the contract for any reason indicated in the Seller's Disclosure of Property Condition within 7 days after receiving the notice or prior to closing, whichever occurs first, and Jill receives a return of the earnest money