Option Period and Seller Repairs

Source: TAR

After the buyer finished his inspection of my client's home, we negotiated several repairs to be completed by the seller, and the parties signed an amendment (TAR 1903) reflecting the items to be repaired. Three days later, the buyer sent the seller a notice that he was terminating the contract under his termination option (Paragraph 23). We are still within the option period stated in the original contract. The seller is upset because he already repaired two of the five agreed-upon repair items. Can the buyer still exercise his right to terminate the contract under the termination option after the parties have agreed to the repair provisions contained in the amendment?
A buyer does not automatically give up his right to terminate the contract under the termination option because the parties negotiated and signed an amendment that provides that the seller will do repairs to the property. If Paragraph 7 of the amendment was checked, indicating the parties had included the buyer's waiver of his right to terminate the contract under the termination option in the amendment, then the buyer could no longer exercise that right to terminate once the amendment became effective. If the buyer has not waived his right to terminate under the termination option, the buyer is still entitled to exercise that right within the option period stated in the contract. Careful preparation of the amendment to reflect the parties' intent concerning the waiver of the termination option by checking (or not checking) Paragraph 7 of the amendment is important.
It should be noted that under the provisions of Paragraph 7 of the TREC contracts, the seller is obligated to complete all agreed repairs prior to closing (unless the parties have otherwise agreed in writing). A seller might want to consider waiting to do repairs until after the buyer's right to terminate under the termination option has expired or has been waived according to the terms of the contract.
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