Final answer:
When a seller fails to provide the required seller's disclosure notice under a TREC agreement, the buyer has several options, including the right to terminate the contract before closing, seek legal damages, or potentially recover attorney's fees through litigation.
Step-by-step explanation:
If a seller under a standard purchase agreement promulgated by the Texas Real Estate Commission (TREC) did not provide a seller's disclosure notice when required by the Texas Property Code (TPC), the buyer may have several potential courses of action. Under the TPC, the seller's disclosure notice is a crucial document that informs the buyer of any known issues or defects with the property. The absence of this disclosure can affect the buyer's decision and potentially alter the contractual relationship between the buyer and seller.
If the disclosure notice is not provided as required, the buyer might be entitled to:
- Terminate the contract before closing.
- Seek legal recourse for any damages incurred.
- Potentially recover attorney's fees if the matter results in litigation.
It's essential for both sellers and buyers to understand their rights and obligations under real estate transactions to protect their interests. Any buyer dealing with such an issue should consider consulting with a real estate attorney to discuss the specific implications and best course of action.