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The option period provided for in the Texas residential contract is a negotiable item that gives the buyer the unrestricted right to terminate the contract. It is not required for the parties to have one, but it is common practice here in San Antonio (and is a wise choice for the buyer).
A comparative market analysis is a tool that is used by the real estate agent in order to remove the value of the particular property via evaluation of the same types of homes that could be presently sold in a similar area.
The document used by a seller to describe the condition of his property to a buyer is the: Transfer Disclosure Statement.
AS 34.70. 010 requires that before a Transferee/Buyer (hereafter referred to as Buyer) makes a written offer of residential real property, the Transferor/Seller (hereafter referred to as Seller) must deliver a completed written disclosure form. This disclosure statement is in compliance with AS 34.70.
Washington law requires a seller of real property to give the buyer a completed seller disclosure statement. The seller must complete the disclosure form without the agent's help and give it to the buyer within five days after a purchase and sale agreement is signed.
Court decisions in California for decades make it very clear that sellers (and their real estate agent) have the duty to disclose prior inspection reports on a listed parcel that are in the possession, custody or control of the seller regardless of who initially paid for the report.
The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.