Texas is a Non-Disclosure State - What does that mean?

Hi Lorrie,    I'm so glad you brought this up.  Years ago, even the papers filed at the courthouse only said for "Ten dollars and other valuable consideration".  This was a big point years ago.  Now, the tax office sends a form to new buyers asking for the sales price of the home.  It is voluntary!!!!!Not mandatory!!!!!! to send this in.  But our MLS offices require Realtors to send it in or they fine you.  So they can tell the tax office.  HMMMMM

How does that work?  Big brother wants to make sure we all pay more taxes, but that's another story.  I'll be watching to see what else is said about this subject.  Good post!         Ricki Eichler:)

Hi Lorrie,  very good point here.  I knew I couldn't include the Sales Price on my neighborhood comps for a mailout or newsletter.  But, I didn't realize that we're not suppose to leave the CMA's we prepare for our prospective Listing Clients with them. 

Ricki,  If I can catch David or Russ, I'll ask them about it to get their "spin" on this subject.

Lorrie:

Good information. Having said that, there are few secrets in communities. People talk to each other and the word gets around. Thanks for reminding us that we should not be part of the source.

Lorrie:

Good information. Having said that, there are few secrets in communities. People talk to each other and the word gets around. Thanks for reminding us that we should not be part of the source.

That would make it very difficult for an appraiser I would think! How do you comp for FSBO's if they don't have to disclose their sales price to the courts? Interesting topic here and I can't wait to see what some of the people have said.

Lorrie - Part of the debate over non-disclosure vs. disclosure states revolves around the appraisal districts ability to raise property taxes based on sales price.  In California, a disclosure state, your taxes went up everytime the home was sold (for a higher price).  Here in Texas, you may be able to keep taxes at their former levels even if you paid more for a home than the previous owners.  The San Antonio Board Of Realtors® and Texas Association of Realtors® has launched a campaign to educate the public about non-disclosure and appraisal district reform.  You can check out the San Antonio site at www.sanantoniofairtaxes.org.

Did Bob and Judi ever got together to discuss this as far as you know?

Yes, I read the comments and I meant Bob Baker and Judi (your then ethic's teacher). Check out comment #19.