Texas has a long history and an attachment to a law that prohibits deeds, etc., from revealing the price a buyer paid for a real estate acquisition. Our deeds read, "For $10.00 and other consideration...." The actual price isn't noted. Professional licensed agents, appraisers, etc., are allowed to share that information with one another, but not with the public. The tax appraisers are strictly prohibited from requiring access to documents that accurately show the price and conditions of a sale. So it's somewhat odd that Zillow, Redfin and others claim to be able to provide an accurate opinion of the value of any Texas … (7 comments)
appraisal: TERRE GRANDE INTERVIEW PROVIDES A VIABLE SOLUTION
- 01/25/11 09:29 PM
All licensed real estate professionals in Texas receive a monthly magazine from the Real Estate Center at Texas A&M University. Apparently the cost of the subscription is a part of our license fees. I would like to suggest that those of you who receive the magazine, read the article titled "Commercialspeak TAR Panel Insights" by Harold D. Hunt. Focus on Mr. McCroklin's comments in the section on page 28 under the subheading, "Any final thoughts?" He talks about the changes of our accounting system to match one called International Finance Reporting System by the end of 2014. In there, he explains … (2 comments)
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