When a buyer backs out, the first question every seller asks is: do I get the earnest money? The second question is: can I relist? Both answers are straightforward once you know which of three distinct contract windows the termination falls inside. Texas real estate contracts, written on TREC promulgated forms, are unusually seller-protective once the option period closes, and understanding exactly how each window works is the difference between walking away with nothing and walking away with the earnest money deposit plus the right to sell to someone else immediately.
What are the three contract windows that determine everything?
Every Texas residential real estate contract, written on the TREC One to Four Family Residential Contract (the standard promulgated form used throughout North Dallas) (Texas Real Estate Commission, TREC Form 20-17), moves through three distinct phases after the effective date. Which phase the buyer is in when they back out determines exactly what you, the seller, are entitled to.
| Contract window | Buyer’s right to terminate | What seller keeps | What buyer gets back |
|---|---|---|---|
| Option period (negotiated window, typically 5 to 10 days) | Unrestricted right to terminate for any reason | Option fee (non-refundable) | Full earnest money deposit |
| Contingency period (after option period, while financing or appraisal contingencies are active) | Limited right to terminate if a specific contingency condition is not met | Option fee only; earnest money refunded if contingency triggered correctly | Earnest money deposit, if proper notice is given within deadlines |
| Fully committed (all contingencies cleared, heading to closing) | No contractual right to terminate; termination is a breach | Option fee plus earnest money as liquidated damages, or seller may pursue specific performance | Nothing; buyer is in breach |
The most important thing to understand about Texas contracts is that these windows are sequential and non-overlapping. Once the option period expires, the buyer cannot retroactively invoke it. Once financing and appraisal deadlines pass without proper notice, those contingencies are considered satisfied. A buyer who misses every deadline and then simply decides not to close has no contractual shield, and you, as the seller, have concrete remedies.
What counts as the “effective date”? Under the TREC contract, the effective date is the date the last party signs and all parties have been notified that the contract is fully executed. All deadlines, including the option period and financing deadline, count from this date. If you are not sure when your effective date was, call us at 214.429.4907 and we will pull your contract and walk through the exact timeline with you.
North Dallas Sellers
Not sure which window your buyer is in?
Contract timelines in Texas move fast. We will review your contract and give you a plain-language answer on exactly where you stand and what you are entitled to. No charge, no obligation.
During the option period: what does the seller actually get?
The option period is a defined window of time, negotiated at contract signing and stated in Paragraph 23 of the TREC One to Four Family Residential Contract (Texas Real Estate Commission, TREC Form 20-17, Paragraph 23), during which the buyer has an unrestricted right to terminate the contract for any reason. The buyer does not have to explain themselves. They do not need a failed inspection, an appraisal issue, or any specific grounds. They simply deliver a Notice of Buyer’s Termination of Contract to the seller or the seller’s agent before the option period deadline, and they are out of the deal.
The option fee versus the earnest money: they are not the same thing
Many sellers, and even some agents, conflate the option fee and the earnest money. They are two separate payments with entirely different rules, and confusing them leads to real surprises when a buyer terminates.
Option fee: Paid directly to the seller within three days of the effective date. This is your compensation for taking the property off the market while the buyer conducts due diligence. It is non-refundable under all circumstances. If the buyer terminates during the option period, you keep the option fee. If the deal closes, the option fee is typically credited toward the buyer’s costs at closing. In North Dallas, option fees have ranged from $100 to over $1,000 in recent years depending on price point and market competitiveness; in a multiple-offer situation for a Frisco or Plano home, buyers have pushed option fees higher to make their offers stand out.
Earnest money: Paid to the title company or escrow agent, typically within three days of the effective date. This amount, commonly 1% of the purchase price for Texas residential transactions, sits in a neutral escrow account and does not become the seller’s property simply because the buyer terminates. During the option period, if the buyer exercises their unrestricted right to terminate, the earnest money is returned to the buyer in full.
What the option period means practically for North Dallas sellers
If your buyer backs out during the option period, you are entitled to keep the option fee, you get the earnest money back via the title company signing off on the release, and you can relist the property immediately. The deal is over cleanly, both parties sign a release, and no further obligations remain.
The real financial exposure for a seller during the option period is not the earnest money loss; it is the cost of the days off market. In active Frisco, McKinney, Prosper, and Plano submarkets, losing seven days of market time when a property is priced correctly can mean missing the peak of buyer activity in a given week. If other buyers made offers during that window and moved on, you may return to the market in a softer position than when you left it. That is why how your agent prices the next listing and reactivates buyer interest matters as much as the contractual outcome itself.
This is not transactional for us. When a deal falls apart, we look at the whole picture: what the market did during that window, whether the price still works, and what the next conversation with a buyer should look like.
Option Period Termination
Your deal fell apart in the option period. Here is your next step.
We handle the earnest money release, review your pricing against what the market did in those seven to ten days, and build a relisting plan. Call us before you do anything else.
After the option period: when buyer contingencies still protect them
Once the option period expires, the buyer no longer has an unrestricted right to walk. But several contingencies built into the standard TREC contract can still give the buyer a legitimate path to terminate and recover their earnest money, provided they exercise those contingencies correctly and on time.
The Third Party Financing Addendum
Most Texas residential transactions include the TREC Third Party Financing Addendum (Texas Real Estate Commission, Third Party Financing Addendum), which gives the buyer a defined deadline by which they must obtain loan approval. If the buyer cannot qualify for financing under the terms specified in the addendum, they may deliver written notice of termination before the financing deadline and receive their earnest money back.
The specific conditions that trigger this right are narrow. The buyer must not be able to obtain approval for the type of loan, interest rate, and loan amount specified in the addendum. A buyer who qualifies for a different loan at different terms does not automatically have the right to terminate. A buyer who simply changes their mind about buying does not have the right to terminate under the financing addendum. And critically, if the buyer misses the financing deadline without delivering written notice, the financing contingency is considered waived, and the buyer can no longer use it as a ground to terminate and recover earnest money.
When a buyer does legitimately exercise the financing contingency, the earnest money is returned. You keep the option fee. You can relist. The key phrase is “legitimately exercises”: the buyer must follow the specific notice requirements in the addendum, and if there is any question about whether they did, that dispute is handled through the title company and, if necessary, mediation.
The appraisal contingency
Paragraph 2B of the standard TREC contract (Texas Real Estate Commission, TREC Form 20-17, Paragraph 2B) allows parties to designate a minimum appraised value the property must appraise at for the deal to proceed. If the independent appraisal comes in below that minimum amount and the parties cannot agree to renegotiate the price, the buyer may terminate and recover the earnest money deposit.
In North Dallas, appraisal gaps became a real issue during the 2021 to 2023 price run-up, when homes frequently went under contract at prices that outpaced appraised values. Buyers in competitive situations sometimes waived the appraisal contingency entirely to win the offer, agreeing to cover any gap between the appraised value and the contract price out of pocket. If your buyer waived the appraisal contingency and the home does not appraise, they cannot use the appraisal as a reason to terminate and recover earnest money. Whether that waiver appeared in your contract is something to verify carefully.
| Contingency type | What it protects the buyer against | Seller keeps earnest money if buyer incorrectly invokes | Common timeline |
|---|---|---|---|
| Third Party Financing Addendum | Buyer cannot obtain loan approval on specified terms | Yes, if buyer missed deadline or changed terms | Typically 21 to 30 days from effective date |
| Appraisal contingency (Paragraph 2B) | Property appraises below minimum agreed amount | Yes, if buyer waived it in writing | Typically within appraisal period, before closing |
| Property condition (inspection result) | No direct “back out” right after option period; must be negotiated | N/A; inspection findings are grounds for option-period use, not post-option termination | Inspection typically occurs during option period |
Key distinction: Property inspections do not give the buyer a post-option-period right to terminate. The option period exists precisely so buyers can conduct inspections and walk away based on what they find. Once the option period expires, a buyer who wants out because of inspection findings they chose not to act on during the option period has no contractual right to do so and no right to a refund of the earnest money.
Frisco, McKinney, Plano, Prosper
Financing or appraisal fell through on your deal?
Whether the earnest money comes back to you depends on how the contingency was invoked and whether deadlines were met. We will review the timeline with you and tell you exactly where you stand.
When a buyer defaults with no valid reason to walk
The most straightforward situation for a seller is also the one that generates the most questions: the buyer is past the option period, all contingency deadlines have either passed or been satisfied, and they simply refuse to close. No financing addendum notice was delivered on time. No appraisal contingency remains active. The buyer just changed their mind, got cold feet, or decided they no longer want the house. What are your rights?
Your two remedies under the TREC contract
Paragraph 15 of the TREC One to Four Family Residential Contract (Texas Real Estate Commission, TREC Form 20-17, Paragraph 15) is titled “DEFAULT” and it sets out the seller’s remedies clearly. When the buyer fails to comply with the contract without a legal right to terminate, the seller may choose one of two paths:
Remedy one: terminate and keep the earnest money. The seller may terminate the contract and retain the earnest money as liquidated damages. This ends all obligations between the parties. You are no longer required to sell the home to this buyer, and you are free to relist immediately. The earnest money compensates you for the time off market, carrying costs during the contract period, and any preparation expenses you incurred. Most sellers choose this path because it is immediate, clean, and requires no ongoing legal action.
Remedy two: specific performance. The seller may also pursue specific performance, which is a court action asking a judge to compel the buyer to actually complete the purchase. Specific performance is available under Texas law as a remedy for real estate contract breach because each piece of real property is considered unique. In practice, specific performance against residential buyers is difficult, expensive, and rarely successful: a buyer who lacks funds to close cannot be forced to obtain them, and the process of litigating a specific performance claim can take months while your property remains tied up and unsellable. Most North Dallas sellers elect the earnest money remedy for this reason.
The election: you must choose one
The two remedies are mutually exclusive. The TREC contract requires the seller to elect one and follow through. You cannot simultaneously terminate and keep the earnest money as liquidated damages while also pursuing a specific performance lawsuit to force the buyer to close. Once you terminate and accept the earnest money, the contract is over. This is a reason to think carefully with your agent and, if the earnest money is substantial, with a real estate attorney before deciding how to proceed.
Can you sue the buyer for additional damages beyond the earnest money? Under the liquidated damages framework in the TREC contract, accepting the earnest money as liquidated damages means you are agreeing that it compensates you in full for the breach. You generally cannot pursue a separate lawsuit for additional losses once you have elected that remedy. If your actual damages significantly exceed the earnest money amount, such as in a situation where you turned down multiple strong offers to accept this buyer’s contract, a real estate attorney can advise whether there is a path to additional recovery before you make the election.
Mediation before litigation
The TREC One to Four Family Residential Contract (Texas Real Estate Commission, TREC Form 20-17, Paragraph 16) requires the parties to attempt mediation before filing a lawsuit. If the buyer disputes your right to the earnest money, or disputes your characterization of their default, the dispute goes to mediation first. Mediation is faster and less expensive than litigation and resolves the majority of earnest money disputes without court involvement. If mediation fails, either party may proceed to court. The contract also includes an attorney’s fee provision: the party who prevails in a dispute is typically entitled to recover their reasonable attorney’s fees, which creates additional incentive for buyers in a clear default position to resolve the matter through the earnest money release rather than prolonged litigation.
For a Frisco or McKinney home under contract at $600,000 with a typical 1% earnest money deposit of $6,000, electing the earnest money remedy, relisting, and getting the home back under contract within two to three weeks typically produces a better outcome than pursuing specific performance for months. For higher-price-point homes where earnest money deposits ran $20,000 to $40,000, the calculus may be different, and that is a conversation worth having before you sign anything.
Buyer in Default
Your buyer missed closing with no valid reason. Here is how we handle it.
We will walk you through your options, help you initiate the earnest money release, and get your home back on the market as quickly as possible. That is what protecting your bottom line looks like.
How does the earnest money release actually work?
Understanding that you are entitled to the earnest money is one thing. Getting it out of escrow and into your hands is a separate process that involves the title company as a neutral third party. The title company that holds the earnest money does not decide who gets it; they simply follow written instructions from the parties or, if the parties cannot agree, a court order.
The Release of Earnest Money form
TREC has a promulgated Release of Earnest Money form. This form is completed by both the buyer and seller, specifying who receives the funds and in what amounts. Both parties must sign it. The title company then processes the release and disburses the funds accordingly, typically within a few business days of receiving the signed form.
In the most cooperative scenario, both buyer and seller sign the release quickly, the title company disburses the funds, and the matter is closed. This is the most common outcome. Even in buyer-default situations, buyers often sign the release rather than contest the matter, particularly when the facts are clear and they understand that mediation and potential attorney’s fee liability awaits them if they force a dispute.
What happens when the buyer refuses to sign
A buyer who refuses to sign the Release of Earnest Money form is not simply able to block the release indefinitely, but the process does take longer. Texas law governs what the title company may do when the parties disagree: the title company, acting as a neutral escrow holder, may interplead the funds into a court registry if the dispute is genuine and unresolvable between the parties, leaving it to a court to determine who receives them. Alternatively, if one party makes a written demand for the funds and the other does not respond or dispute within the applicable period, the title company may have the ability to release under certain conditions, but this varies by title company policy and the specific facts involved.
In practice, a buyer who has no contractual right to terminate and simply refuses to sign a release is in a weak position. The mediation requirement gives both parties a forum to resolve the dispute without a full lawsuit, and a mediator who sees a clear case of buyer default with no valid contingency will make that plain. Most disputes in this category resolve through mediation with the earnest money going to the seller.
A step-by-step view of the release process
- Buyer delivers Notice of Buyer’s Termination of Contract (during option period or under a valid contingency) or buyer simply fails to close (default scenario).
- Your agent contacts the title company to confirm the contract has been terminated or the buyer is in breach, and requests the Release of Earnest Money form.
- Both parties sign the release form indicating who receives the earnest money. In the case of a seller-favorable outcome, you sign indicating the funds should be released to you.
- If the buyer refuses to sign, your agent escalates: written demand letters, notice of intent to seek mediation, and if necessary initiation of the TREC mediation process.
- Title company disburses funds upon receiving a properly executed release or a court order directing disbursement.
Do not sign away your rights by mistake: If the title company or the buyer’s agent presents you with a release form showing the earnest money going back to the buyer and you sign it without reading it carefully, that release is binding. Read every release form before signing, and if you have any question about whether you are entitled to the funds, call us at 214.429.4907 before you execute anything.
Earnest Money Release
Not sure what to sign or when?
We have guided more than 400 North Dallas families through transactions of every kind, including the ones that fell apart. We know the title company process and we will make sure you do not sign anything that costs you what you are rightfully owed.
What does getting back on the market look like after a deal falls apart?
Once the contract is terminated and the Release of Earnest Money is signed, you are free to relist. There is no waiting period, no mandatory notice requirement, and no obligation to disclose to future buyers that a prior deal fell through, unless something specific was disclosed to you during the failed transaction that constitutes a material defect you are now aware of. What there is, however, is a strategic conversation to have before the sign goes back in the yard.
How buyers in North Dallas view a relisted home
Buyers and their agents in Frisco, McKinney, Plano, and Prosper track days on market closely. When a home goes back on the market after a failed contract, particularly if it happens quickly, buyers will ask why. The most common assumption is that something was wrong with the inspection. The second is that the buyer got cold feet. The third is that the seller was difficult to work with.
None of these necessarily tanks a relisting, but they do create a perception that your agent needs to manage proactively. A well-prepared explanation of why the deal fell apart, shared candidly with agents representing serious buyers, often resolves the concern faster than silence. If the buyer terminated during the option period with no disclosed inspection issues, say so. If the buyer had a financing failure with no reflection on the property, document that clearly. Buyers who trust the explanation can move forward confidently. Buyers who sense that something is being hidden will walk away.
Pricing after a failed deal
Markets move, even in short windows. A seven-to-ten-day option period in a shifting North Dallas submarket may mean new comps have come to light, a competing listing went pending, or interest rates moved in a way that affects buyer purchasing power. Before relisting at the same price, your agent should pull a fresh CMA, check what sold and what went pending while your home was under contract, and confirm the price still positions you correctly against active competition. If the failed buyer was at or near list price and you relisted there, buyers will notice the relisting and assume the price is now negotiable. Sometimes a brief, strategic price adjustment, even a minor one, resets buyer perception and generates renewed urgency.
Using the failed deal’s inspection findings
If the buyer conducted an inspection during the option period and shared their inspector’s report with you during repair negotiations, you are now in possession of information about your home’s condition that you were not aware of before. Texas law requires sellers to disclose material defects they are aware of on the Seller’s Disclosure Notice (TREC Residential form). If the inspection revealed issues you did not previously know about, those disclosures must now be updated before you relist. Your agent can guide you on which findings rise to the level of a material defect requiring disclosure and which are routine maintenance items that do not need to appear on the disclosure form. Repairing significant items before relisting often produces a stronger net result than leaving them unaddressed and pricing around them.
For most North Dallas sellers whose deal falls apart during the option period with a clean inspection and no meaningful findings, the path back to the market is two to five days of coordination and the home relists with the advantage of having already been vetted by one set of professionals. That can actually strengthen buyer confidence in the next round, provided the agent communicates it correctly.
Back on the Market
Ready to relist? Here is what our first call looks like.
We review what happened in the market while your home was under contract, update your CMA, address any disclosure questions from the prior deal, and get your listing reactivated in a position to move. Call us this week.
How do sellers protect their position in the next contract?
A buyer backing out is sometimes just bad luck. It is also sometimes a function of how the contract was structured and how thoroughly the buyer was vetted before acceptance. Once you relist and start receiving offers again, the prior experience is a useful lens for evaluating what a stronger contract looks like.
Earnest money amount
Texas has no statutory minimum for earnest money. The TREC contract leaves the amount blank and parties negotiate it. One percent is common, but it is not required. For a $700,000 Frisco home, a 1% earnest money deposit is $7,000. A buyer willing to put up 2% is putting $14,000 at risk if they walk away without a valid reason. Higher earnest money does not prevent a buyer from walking, but it does increase the financial consequence of doing so, which tends to select for buyers who are more committed. In a competitive offer situation where you have multiple buyers, earnest money amount is one of the legitimate factors to weigh alongside price and contingency structure.
Option period length and fee amount
A shorter option period with a higher option fee is generally better for the seller. A five-day option period with a $500 option fee is better than a ten-day option period with a $100 fee, all else equal. The fee is yours regardless; the shorter option period means less time off market if the buyer terminates. In fast-moving submarkets like Prosper and Celina, where new construction competition is intense, buyers often push for longer option periods to compare against build timelines. Knowing where to hold firm on the option period length, and when the market supports asking for a higher fee, is something your agent should be advising on actively before you sign.
Pre-approval verification
A pre-approval letter from a national online lender means less in the context of a North Dallas contract than a pre-approval from a local lender who has actually run the file and has a direct relationship with a loan officer you can call. Buyers with pre-approvals from lenders your agent has vetted and worked with before are statistically more likely to close. It is not foolproof, but it is meaningful. Asking the buyer’s agent to provide a lender contact, calling that lender to confirm the pre-approval is current and based on a full file review, and noting the difference between a pre-qualification and a full pre-approval are all reasonable pre-acceptance steps that reduce the risk of a financing failure after the option period.
Shortening or eliminating certain contingencies
In competitive offer situations, buyers sometimes offer to waive specific contingencies to strengthen their offer. A buyer who waives the appraisal contingency and commits in writing to cover any appraisal gap removes one of the two major post-option-period exit paths. A cash buyer eliminates the financing contingency entirely. If you receive multiple offers, the relative contingency structures matter as much as the prices, and a slightly lower all-cash offer with no financing or appraisal contingency may be a stronger offer than a higher financed offer with both contingencies intact.
We don’t buy leads. Every buyer who comes through our doors comes through a relationship or a referral, which means by the time they are writing an offer on your home, we usually already know something about how serious they are.
Stronger From Here
Let us build you a better contract on the next offer
From earnest money strategy to contingency structure to vetting the buyer’s lender, this is where working with an experienced North Dallas listing agent changes your outcome. The Kaitlin Lovern Team has represented more than 400 North Dallas families through transactions of every kind.
Frequently asked questions
If my buyer backs out during the option period, do I get the earnest money?
No. During the option period, the buyer has an unrestricted right to terminate under the TREC contract, and the earnest money is returned to the buyer. What you keep is the option fee, which is paid directly to you and is non-refundable under all circumstances. The earnest money is a separate payment held by the title company, and it comes back to the buyer when they exercise their option-period right to terminate. To keep the earnest money, the buyer must default outside of a valid contract window. Call 214.429.4907 if you need help confirming which window your buyer is in.
My buyer said they cannot get their loan approved. Do I keep the earnest money?
It depends on whether the buyer properly invoked the Third Party Financing Addendum on time. If the buyer delivered written notice of their inability to obtain financing before the financing deadline stated in the addendum, and the financing failure is legitimate under the terms of the addendum, the earnest money is refunded. If the buyer missed the financing deadline without delivering notice, the contingency is considered satisfied and waived, and a subsequent financing failure does not give the buyer a right to the earnest money. The specific facts, particularly the date notice was delivered relative to the contract deadline, determine the outcome.
The home did not appraise. Can the buyer walk away and keep the earnest money?
Only if the appraisal contingency remains in effect and was not waived. If Paragraph 2B of the TREC contract sets a minimum appraised value and the home came in below it, the buyer may elect to terminate and recover the earnest money. If the buyer waived the appraisal contingency in writing, as some buyers do in competitive offers, the low appraisal does not give the buyer a right to terminate and recover the deposit. Review your specific contract language carefully before assuming either outcome.
My buyer missed the closing date and is refusing to close. Can I keep the earnest money and relist?
Yes, provided you have elected that remedy. Under Paragraph 15 of the TREC contract, when a buyer fails to comply without a valid contractual right to terminate, you may terminate the contract, retain the earnest money as liquidated damages, and relist immediately. The buyer is in breach, and you are not required to extend the closing date or accommodate further delays. Initiate the Release of Earnest Money process through your title company and contact us at 214.429.4907 to get the relisting timeline started.
How long does it take to get the earnest money after the buyer backs out?
If both parties sign the Release of Earnest Money form without dispute, the title company typically disburses the funds within a few business days of receiving the executed form. If the buyer refuses to sign, the process extends significantly: written demands, mediation, and potentially court action can extend the timeline to weeks or months. The fastest path to your earnest money is a cooperative release, which is why how your agent communicates with the buyer’s agent in the immediate aftermath of a termination or default matters. Book a call with us if you are navigating a contested release.
Does a buyer backing out affect my ability to relist on the MLS right away?
No. Once the contract is properly terminated and both parties have acknowledged the termination, your listing can go back to active status on the MLS immediately. There is no mandatory waiting period. Your agent will update the MLS status from pending to active, or create a new listing depending on your MLS’s policies and how long the previous listing had been active. In North Dallas markets, relisted homes with a strong explanation for the failed deal perform well when they return to the market at the right price point.
Do I have to disclose to the next buyer that a prior deal fell through?
Texas does not require you to disclose that a prior buyer terminated the contract, and you are not required to explain why a deal fell through. However, you are required to disclose material defects in the property that you are aware of on the Seller’s Disclosure Notice (Texas Real Estate Commission, TREC OP-H). If the failed transaction brought new information to light about the property’s condition, such as an inspection report that identified issues you were not previously aware of, you must update your disclosure accordingly. Routine failed deals with no new property disclosures require no specific disclosure to the next buyer. Call us and we will walk through what, if anything, needs updating on your disclosure form before you relist.
Can I sue the buyer for more than the earnest money if their backing out cost me money?
This depends on which remedy you elect under the TREC contract. If you accept the earnest money as liquidated damages under Paragraph 15, that acceptance generally constitutes your full compensation for the breach, and you cannot then pursue a separate lawsuit for additional losses. If you believe your damages substantially exceed the earnest money amount, speak with a Texas real estate attorney before electing a remedy. There may be circumstances, particularly in higher-price-point transactions where substantial preparation expenses or other offers were turned down, where pursuing additional damages is worth evaluating before you sign the release. Call 214.429.4907 and we can refer you to a real estate attorney who handles these situations in North Dallas.
Kaitlin Lovern Real Estate Team
Your next step when a deal falls apart
Whether you are trying to collect the earnest money, navigate a disputed release, or get back on the market as quickly as possible, this is exactly the kind of situation we handle with the same concierge-level attention we bring to every closing. Let us talk through your options today.
About the Author
Kaitlin Lovern
REALTOR® · Real Brokerage LLC · license #0634293
Kaitlin has guided more than 400 North Dallas families through every kind of transaction, including the ones that fall apart before the finish line. Her understanding of the TREC contract, the earnest money process, and what it takes to relist strategically comes from representing sellers in Frisco, McKinney, Plano, and Prosper through hundreds of closings and a fair number of deals that did not close. When you need someone who will tell you the truth about your options and move quickly to protect your outcome, that is the kind of agent she is. Reach her directly at 214.429.4907 or visit kaitlinlovern.com/about/.
Sources
- TREC One to Four Family Residential Contract, Paragraph 15 (DEFAULT) and Paragraph 23 (TERMINATION OPTION), Texas Real Estate Commission promulgated forms
- TREC Third Party Financing Addendum, Texas Real Estate Commission, current promulgated form
- TREC Release of Earnest Money form (OP-R), Texas Real Estate Commission
- TREC Notice of Buyer’s Termination of Contract form (38-7), Texas Real Estate Commission
- Texas Real Estate Research Center, “Option Period Basics,” Texas A&M University
- Vastine Law, “Who Gets Earnest Money If the Buyer Backs Out in Texas,” 2026
- Texas Legal Guide, “TREC Contracts in Texas: Option Period & Forms,” 2026
