Surveys are to be provided as agreed upon in the contract. If a seller has agreed to provide the survey they have within a specific time period, they must do so in the time period or they are responsible for purchasing a new one, if a new one is needed for any reason. Surveys providedContinue reading “Surveys, surveys, & surveys”
Monthly Archives: December 2016
When is a contract “Executed”?
All of the deadlines in a real estate contract begin the day after execution. Execution is when ALL parties of a contract have signed and the contract is delivered back to other party. There is confusion surrounding this sometimes, however, the execution date should be the date that the signed contract was delivered back toContinue reading “When is a contract “Executed”?”
Leasebacks & Property Condition
It is customary in the North Texas region for buyers to offer short (1-3 days) leasebacks to sellers for free. This is an especially important offering if you are in a competitive offer situation. By offering a leaseback, you are allowing the seller to stay a certain amount of days after closing to move fromContinue reading “Leasebacks & Property Condition”
Closing & Funding…the FUN part!
In years past, part of the closing process was sitting at the table with the buyer, seller and the agents that represented both. A lot of people liked it so that they could meet the other party, trade stories of memories created and hopes of memories to be created in years to come. Once everyoneContinue reading “Closing & Funding…the FUN part!”
What is a Financing Contingency?
In the state of Texas, real estate contracts can be contingent on many things. One of the common contingencies is for financing. When a buyer is purchasing a property that they intend to purchase by securing a mortgage, they will typically make the contract contingent on them securing that loan. The idea behind this isContinue reading “What is a Financing Contingency?”
What is earnest money?
When purchasing a home in the state of Texas, generally speaking, two checks are required once you have an executed contract: one check for your option fee and one check for your earnest money. The option fee is made payable to the seller, the earnest money check is made payable to the title company (anythingContinue reading “What is earnest money?”
What is an option period?
When purchasing a home in the state of Texas, you do not have an “inspection” period as a buyer, you have what its called an “option”period. During the option period of the contract, the buyer may opt out of the contract for ANY reason. The caveat to this is that the option period fee mustContinue reading “What is an option period?”
Medi-what?! Medi-share = Money Savings!
Thanks to my awesome Executive Team, I realized that in true procrastination style, I needed to quickly research new insurance plans and make a decision by December 15th for 2017! Being self-employed, we look to the Health Care Marketplace for our plans since, in the great state of Texas, I am unaware of any privateContinue reading “Medi-what?! Medi-share = Money Savings!”