texas: Can an FHA Buyer do a Temporary Residential Lease? - 06/22/17 06:56 AM
Texas real estate contracts provision for temporary leases for both Buyers and Sellers to accommodate for either early possession (ahead of the closing date) or deferred possession (after the closing date).
Temporary leases under a purchase agreement are different from standard lease agreements in several ways, most notably:
• these temporary agreements have restrictions on the term (duration / number of days). Specifically, a Buyer's Temporary Residential Lease is strictly limited to a term of no more than 90 days PRIOR to closing.
• these agreements do not impose Property Code compliance requirements for matters of repairs and maintenance, smoke alarms, and security devices.
In recent years, … (4 comments)

texas: Closing, Funds, Funding, Wire Cutoff, & Disbursements - 04/06/17 02:29 PM
In Texas, a common question Sellers ask is "when do I get my money?"
What is Closing?
Closing is the process of signing the paperwork. In Texas, it is customary for Buyer and Seller to each have their own closing appointment scheduled with Title, and to meet individually with the Escrow Officer or mobile notary to complete their document set. Closing is one step in the process that must be completed before funding can occur.
But, Title Said They Have The Wire Funds?
Yes, it is possible at any time during the transaction process a Buyer or Lender party could wire funds to Title. It … (2 comments)

texas: Tour de Coop -- A Tour of Homes That's For The Birds - 04/06/17 10:25 AM
Plano residents are aflutter with excitement following Texas Senator, Van Taylor's, progress toward barring cities from imposing bans on backyard chickens in suburban communities. Senate Bill 1620 has passed with flying colors, and -- no joke -- looks to be carried forward into the House by none other than Representative Linda Koop.
The growing trend for small-scale urban self-sustainability is making an impact in local neighborhoods across Collin County, TX and the Dallas / Forth Worth Metroplex. From conservation and upcycling interests, to community gardens and the adoption of homesteading techniques (e.g., rain barrels, compost bins, worm farms, home gardening and raising backyard … (2 comments)

texas: And the Survey Says... - 08/10/16 07:22 AM
We recently attended a training hosted by one of the largest associations in the DFW Metroplex.  While the content was good overall, we walked away with concerns about several glaring points of misinformation shared during the event.
One hot topic concerned the subject of residential property surveys.
To clear things up, we polled our title, surveying, and lender partners to confirm understanding of how the cow eats the cabbage in Texas.
Statement: "A T-47 (survey affidavit) is not a requirement for existing survey provided by a Seller."
Survey Says: A T-47 is not only a standard requirement in order for Title to issue coverage against an existing survey, … (2 comments)

texas: Don't have time for training? - 07/29/16 11:42 PM
No more classes, no more books...
Completing those pre-licensing real estate courses is a BIG accomplishment, no matter what the level of prior education or career success a person has had. A close second (in Texas at least) is completing the 2nd round of courses (98 hours) that are required for an agent's first renewal.
Ramping up a real estate practice can be a surprisingly daunting task. It's more than picking a logo and hanging out a shingle. What agents learn in pre-licensing courses is important, but the actual day-to-day work activities -- and the skills required for establishing a professional practice -- … (2 comments)

texas: You Ain't From Around Here, Are Ya? - 04/30/16 04:41 AM
Texas is rich in cultural diversity. While standard and intuitive pronounciation is often used, mispronouncing colloquial names is a dead give away that you aren't familiar with the local area.
Want to blend in?
Step 1: Don't listen to your GPS. It doesn't know how to speak Texan.
Step 2: Read this list of commonly mispronounced names of Texas places, and practice!
For more fun, check out the Texas Almanac Pronounciation Guide. You too can learn to speak Texan and sound like a local no matter where you kick off your boots at night.

texas: There's No Such Thing As A Licensed Roofer in Texas (yet) - 04/25/16 05:26 AM
In Texas, only specialty contractors (HVAC, fire sprinkler systems, plumbing, electricians and well drilling/pump installation specialists) need to be licensed. These licenses are administered through the Texas Department of Licensing and Regulation. 
As this time, trades such as home builders, general contractors, roofers, and foundation companies are not required to carry a state-level license or registration.  Depending on the municipality or County where the contract work is to be performed, local requirements can come into play. Aside from required permits, local ordinances may additionally require City registration, or membership to a voluntary association, such as the Roofing Contractors Association of Texas. 
Homeowners and Buyers share … (1 comments)

texas: Can Street Name Affect Market Value? - 01/21/16 11:14 PM
House shopping is a big job with lots of moving parts. Buyers usually realize that they must consider more than the house alone...  The immediate neighbors, the neighborhood, and the schools can bear a significant impact on the property value.
Photo Credit: Vincent Disanza
Our friend, Vinny Disanza, is both a licensed agent and Certified Residential Appraiser in California. He frequently shares interesting and unusual tidbits from situations he encounters in his daily field work. We've learned a lot from Vinny through the years, and this recent question really grabbed follower attention.
Can street name negatively affect market value?
The short answer is yes. Vinny explains … (5 comments)

texas: To Own A Texas Vineyard Would Be Divine - 10/28/15 03:55 AM
See all the details at 5518statehighway198.view24hours.com
Listing DetailsCanton, TX - Authentic Texas Vineyard For Sale5518 State Highway 198, Canton, TX 75103
Price: $379,000
MLS number: 13259477
Bedrooms: 2
Bathrooms: 1
Square Footage: 1,896
Call Amanda Thomas at 469.298.9706 to see if this property is still available and arrange a showing.
You Will Love the Views of the Vineyard and Ponds From The Wine-Tasting RoomThe framework is set for this turn-key agri-business incorporating a winery, a vineyard, & a homestead complete with posh midcentury farmhouse updated in restoration hardware style finishes & original hardwoods. Planned by a seasoned viticulturist, the vineyard is comprised of 3 Pierce-resistant varietals currently completing year two leaf. Strategic location … (3 comments)

texas: Amanda Thomas earns Master Certified Negotiation Expert© Designation - 04/26/15 10:58 AM


texas: You might be from Plano, TX if... - 04/02/15 11:11 AM
Plano, Texas consistently ranks as one of the top American cities to live.  While inhabitants of Plano, TX might be "Plano Proud", there is also plenty to laugh about. 
If any of these statements ring a bell, you might be from (or destined to live in) Plano!
If you don't get confused by directions to Plano Parkway, Park, and Parker Roads, you might be from Plano, TX. 
If a "Michigan Left Turn" gets built and then "un-built" within 12 months, you might be from Plano, TX. 
If you know how to access the Dallas North Toll Road South, you might be … (17 comments)

texas: Home Inventory Is Shrinking for FHA Buyers - 03/22/15 06:56 AM
FHA Buyers and the Realtors® who represent them are facing a shrinking pool of compatible homes to choose from. Ironically, the latest cuts stem from HUD's re-implementation of FR-4615 Prohibition of Property Flipping in HUD's Single Family Mortgage Insurance Programs, better know as the "FHA Anti-Flipping rule" or "90-day Seasoning Requirement" initially enacted in 2003.
As of January 1, 2015, Buyers who are using FHA financing once again aren't able to make offers on certain properties as soon as non-FHA financed buyers.
Originally designed to protect FHA Buyers from illegal flipping schemes and curtail mortgage fraud, the Anti-Flipping rule prevents applicants from successfully getting approved … (0 comments)

texas: Magnificent Memories from Humble Hovels - 12/24/14 09:07 AM
Growing up in deep South Texas, Christmas Eve meant attending evening service at Mt. Calvary Lutheran Church in Raymondville, participating in the children's program presenting the Christmas story according to the King James Bible, and being handed a marvelous brown bag of Valley Citrus, nuts and hard candies as a parting gift for celebrating our common Christian faith.
For the timeframe (70s and 80s) and geographical region, most folks led modest lifestyles compared to the rest of Texas and the larger majority of States in the USA. Christmas was NOT about commerce, ecommerce or anything commercial. It was about worship, and … (3 comments)

texas: That's Not How We Do Things Around Here - 12/18/14 08:05 PM
If you practice real estate long enough, eventually you will find yourself working a transaction that falls outside of your immediate stomping grounds. While folks commonly recognize that there are differences in laws and practices in between states, it isn't as commonly understood that there can also be variations within a state -- particularly within those larger and more densely populated states, such as Texas.
It is difficult to say what drives regional differences... but at some point, the words, "That's not how we do things around here" will be uttered as an objection to what one party deems as standard, conventional … (27 comments)

texas: Celina OPEN HOUSE: SUNDAY, 11/16/2014, 1PM - 4PM - 11/15/14 05:53 AM
 OPEN HOUSE: SUNDAY, 11/16/2014, 1PM - 4PM

texas: The Double Bind in Texas Title Industry Accountability - 09/21/14 07:34 AM
Something is wrong. Terribly wrong.
Last Spring, we represented a Buyer client on a transaction that qualified as possibly the worst title experience EVER....
A few days prior to the contracted closing date, our agent received a blank digital closing package with instructions that consisted of "sign and return" only.  She called me with concerns, as our Buyer had never received title commitment from the escrow officer prior to receiving this closing package.
Upon investigation, we also found multiple errors on the preliminary HUD-1 and with the closing documents:
1. No title commitment received from escrow officer prior to receipt of … (6 comments)

texas: What is a Backup Offer? How Does A Backup Offer Work? - 09/20/14 09:57 AM
Back up vs. Backup
Backup (one word)
Noun or Adjective
(noun) The checkout line was stacked 20 customers deep, so the cashier called for backup.
(adjective) It pays to have a backup plan in place.
Back up (two words)
(verb) Let's back up for a second.  Can you back up your claims with facts? 
(verb) Smart business owners back up the company database.
Common Misspelling
Back-up, backup's backups'
In real estate, after a Seller has contracted to sell a home to a Buyer, a Seller may still consider a backup offer. Since most buyers condition their offers to purchase … (5 comments)

texas: Texas Homeowners: Relying on a Zillow Zestimate Could Lead You Astray - 08/08/14 01:37 AM
 Relying on a Zillow Zestimate Could Lead Texas Homeowners Astray
Zillow last updated their Zestimate Accuracy Table in June 2014. 
As Texas Realtors, we advise our clients and customers not to rely on third-party website estimates of value. Zillow openly displays their data coverage and Zestimate accuracy chart, and explains that accuracy for Texas properties is not reliable due to the lack of available data.
Texas, as a non-disclosure state, does not publish sales prices for sold homes. Sold pirces are one of the key variables in the Zestimate algorithm. In fact, Zillow publishes accuracy rates by Texas Counties. The overwhelming majority … (7 comments)

texas: Texas Seller's Disclosure and Home Inspections - 06/18/14 04:52 AM
I was shocked when I read a colleague's facebook post last week lamenting that his seller client had requested a copy of the buyer's home inspection. He was frustrated, and complained that the seller would then be responsible for the burden of disclosure for any issues noted on the inspection report. 
Years ago, the school of thought was that a Texas listing agent or seller could simply refuse to read or receive a copy of an inspection report, and thereby be exonerated from disclosure liability. If the working contract terminated, discovery would then be the duty of the next buyer, who … (1 comments)

texas: Open Letter to Texas Property Managers and Texas Landlords - 05/09/14 10:45 AM
There is no other segment in the real estate industry where I see more abuse and mistreatment of consumers than in the property management & residential rental market. A quick glance through TREC disciplinary history will quickly confirm that a majority of complaints source from this area of practice.
A true professional is a student of her profession.  If you are claiming to be a specialist in a particular area of practice, you'd better familiarize yourself with laws, codes, and expected operational protocol  of that area. The expertise it will afford you, your clients, and your customers will be invaluable.