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On a Texas Real Estate contract what does" The buyer waives…

Customer Question
On a Texas Real...

On a Texas Real Estate contract what does" The buyer waives the unrestricted right to terminate the contract for which the Option fee was paid"

Lawyer's Assistant: What steps has the buyer taken so far? Have they prepared or filed any paperwork?

The offer has been accepted ..the buyer wanted some items repaired and this is what they added to the repair list

Lawyer's Assistant: Have they talked to a TX lawyer about this?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I do not think so

Submitted: 4 months ago.Category: Real Estate Law
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Answered in 2 minutes by:
3/16/2018
Real Estate Lawyer: KLAW, Arbitrator replied 4 months ago
KLAW
KLAW, Arbitrator
Category: Real Estate Law
Satisfied Customers: 2,360
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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Real Estate Lawyer: KLAW, Arbitrator replied 4 months ago
This is usually done where the buyer is requiring repairs to be made before the sale will take place. The seller (you) wants a firm commitment from the buyer that if the repairs are made, the sale will take place. The buyer is giving up his right to cancel the buy for any reason if the repairs are made. If they do cancel the buy, the seller keeps the money and can sue for excess costs.I hope this clarifies. Please don’t forget to rate the question with stars. We as attorneys are not employees of Just Answer and are not paid unless you rate the question with stars
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Real Estate Lawyer: KLAW, Arbitrator replied 4 months ago
If you have any additional questions please just ask
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