Monday, March 28, 2016

What thousands of Texans are about to do (but you should do first)

Spring in Texas means yards are full of two things: blooming flowers and for-sale signs. Our state's homeselling season is ramping up on its way to peak in mid-summer. If you're going to be one of the thousands of people looking at properties this time of year, there are a few tasks you can work on now to help make the process smoother. Get your finances in order. Talk with a mortgage broker or banker to assess your financial situation, and check your credit for any issues you can resolve before a lender scrutinizes your file. This will also help you determine a realistic price range for your budget. Figure out your criteria. Start thinking about neighborhoods you may like to live in, what size property you need, and which amenities are must-haves. These options may change during your house hunt, but at least you'll have a starting point. Talk with a Texas REALTOR®. Even if you won't be ready to move for a few months, he or she can help you take steps now to ensure you present a strong offer later, like getting a prequalification or preapproval letter from your lender.

Wednesday, March 23, 2016

Do I have to share an inspection report from a buyer who terminated the contract?

My house was under contract with a buyer who just terminated the contract. She had an inspection done prior to termination, and she gave me her inspection report since she wanted to negotiate a few repairs. Now that I have the report, do I have to share it with prospective buyers? Although you’re not required by law to provide the inspection report, you are legally required to disclose any information in it that pertains to material property defects. And whether you read it or not, you’re charged with information in the report. It’s a good idea to provide any prior inspection reports—including this one—that you are in possession of to prospective buyers. In fact, the TAR Seller’s Disclosure Notice (TAR 1406) instructs you to attach copies of any inspection reports you have from the last four years.

Tuesday, March 22, 2016

Great Deals in the SPI Golf Community

104 Golf House Rd., Laguna Vista, TX 78578
104 Golf House Rd. is located approximately 15 minutes from the white sandy beaches of South Padre Island. The South Padre Island Golf Community is a gated community and offers several amenities including a heated pool, club house, exercise room and optional golf membership. This beautiful home boasts a spacious floor plan with over 2,000 square feet. Granite countertops and his and her vanities with a Jacuzzi tub in the master bath. Relax in the screened in patio or in the large, fenced in backyard which overlooks the golf course. $249,900 More Information

Wednesday, March 9, 2016

Don't think you need a buyer's agent? Think again

Whatever your reasons for not hiring a buyer's agent, they probably aren't good enough to forgo such an important homebuying resource. Here are three reasons why hiring a buyer's agent can benefit you. You'll have someone on your side Hiring your own buyer's agent will ensure you have someone working on your behalf with your best interests in mind. You'll also have someone who will handle communication with the other party, and keep your transaction on track. And when you have questions during the process, you'll have someone you can trust providing the answers. You'll probably save money There is usually no direct cost when you hire a buyer's agent, since sellers typically cover the agents' commissions. Plus, you'll have an expert negotiator working for you. Even if you think you're good at getting deals, a buyer's agent has experience negotiating sale prices in your market, and has access to data that will help you create a more accurate offer price than what you'd come up with on your own. You'll reduce your chances of legal trouble Are you comfortable with earnest money, option fees, and title insurance? Real estate transactions are complicated with continually changing laws and procedures. Unless you're dedicated to keeping up with the latest industry news, you're putting yourself at risk of losing money or winding up a party in a lawsuit. Buyer's agents keep up with the laws and know ways to reduce your risk in a real estate transaction.

Tuesday, March 8, 2016

What if I don't pay the option fee in time?

What happens if I don't pay the fee for a termination option within three days from the time the contract was accepted? Can I still pay the fee after three days and rely on the option period to terminate the contract? No. In the Termination Option paragraph, it states: "... if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract." Since many buyers purchase a termination option with the intent of conducting inspections and making other considerations while reserving the right to terminate the contract, buyers will want to make sure not to miss the payment deadline in this paragraph.

Thursday, March 3, 2016

Use your ears to learn Texas real estate trivia

There's a podcast for everything these days. Advice, gardening, pop culture, sports-if you're into it, there's probably someone talking about it on the Internet. But if you want a show that explores what's up with homes, buildings, and land in our state, listen to "Inside Texas Real Estate." In every episode, hosts Marty Kramer and Stacy Armijo provide a rundown of shareworthy headlines, stats, and trivia about-you guessed it-Texas real estate. Check out the latest episode to find out if last year was a record-breaker for housing, where to get stats about buying and selling in your city, and more. Give it a listen at texasrealestate.com/inside.