Tag Archives: contract

What time does your client’s termination-option period end?

Posted on March 3, 2016 by robertjrussellcompanies

QUESTION:  I know my buyer’s termination option ends on Thursday, but at what time? ANSWER: The termination option ends at 5 p.m. local time to where the property is located. The Texas Real Estate Commission revised its contracts effective January … Continue reading →

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Earnest Money Is Not “Consideration”

Posted on December 5, 2015 by robertjrussellcompanies

Earnest money is not “consideration” for the TREC (Texas Real Estate Commission) contracts. Consideration is a legal concept that describes something of value given in exchange for a performance or a promise of performance. The presence of consideration distinguishes contracts … Continue reading →

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The Opera Ain’t Over Til the Fat Lady Sings…..

Posted on January 24, 2015 by robertjrussellcompanies

You accepted a buyer’s offer on your home? Congratulations! Now put down the champagne. There’s work to be done. Lots of work, if you want the deal to close. Many sellers are surprised when twists and turns occur during their … Continue reading →

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