How Does the Addendum for “Back-up” Contract Work?
Some buyers may not know what happens after signing a backup contract on a property. The Addendum for “Back-Up” Contract (TXR 1909, TREC 11-7) explains how and when important actions take place. Buyers must pay the earnest money and any option fee within three days after the backup contract’s effective date, just like a primary contract. The…