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Lynn Caison Johnson's Blog

By Lynn Caison Johnson | Agent in Rockport, TX
  • How the Repairs Paragraph changed in TEXAS contracts

    Posted Under: Home Buying in Rockport, Home Selling in Rockport, Agent2Agent in Rockport  |  May 23, 2014 7:11 AM  |  180 views  |  No comments

    The Texas Real Estate Commission recently approved many forms changes that take effect June 1. Here are changes to the Repairs Paragraph that affect the One to Four Family Residential Contract (Resale) (TAR 1601, TREC 20-12), Unimproved Property Contract (TAR 1607, TREC 9-11), New Home Contract (Completed Construction) (TAR 1604, TREC 24-13), Farm and Ranch Contract (TAR 1701, TREC 25-10), and Residential Condominium Contract (Resale) (TAR 1605, TREC 30-11).

    Paragraph 7F: Completion of Repairs
    The seller will be required to use someone who is licensed to perform a repair or service—unless the buyer and seller agree otherwise in writing. If the type of repair doesn’t require a license (e.g., roofing), the seller will be required to use someone who is commercially engaged in that repair business—unless the buyer and seller agree otherwise in writing.

    This change does not mean that no seller can ever use an unlicensed handyman for electrical repairs. It means that absent a written agreement between the buyer and seller to use that unlicensed handyman for electrical repairs, the seller must use a licensed electrician.

    Also, the time to extend the contract for repairs was shortened from 15 days to 5 days.

    See all the changes TREC approved as well as more changes the commission has proposed at TexasRealEstate.com
    Source: Texas Association of REALTORS

  • Is managing friends’ property without a real estate license OK?

    Posted Under: Agent2Agent in Rockport, Rental Basics in Rockport, Investment Properties in Rockport  |  March 27, 2014 7:51 AM  |  527 views  |  2 comments

    Is managing friends’ property without a real estate license OK?

    A friend of mine gets paid to manage other friends’ properties. He says he doesn’t need to have a real estate license to do this. Is this true?

    In Texas, it depends on what services your friend is providing in his property management. Under the Real Estate License Act, a license is required when a person handles the leasing of someone else’s property. Additionally, someone who controls the acceptance or deposit of rent for a single-family residential property on behalf of another person must be licensed.

    A person controls the acceptance or deposit of rent if:

    • The person has the authority to use the rent to pay for services related to management of the property; or
    • The person has the authority to deposit the rent into a trust or bank account and sign checks or withdraw money from the account.
    Get answers to more property management questions in the Legal FAQs section of TexasRealEstate.com.
    Source: Texas Association of REALTORS
  • Can seller counter multiple offers?

    Posted Under: Home Buying in Aransas County, Home Selling in Aransas County, Agent2Agent in Aransas County  |  September 24, 2013 1:47 PM  |  597 views  |  2 comments

    A seller received two offers on his property at about the same time and wants to counter them both. Can he do this?

    Although he can do this, it’s not a good idea to counter both offers because the seller potentially could be bound to sell the property to two different purchasers if both buyers accept the seller’s counteroffers. Instead, the seller could reject both offers and invite the prospects to submit better offers, or the seller could make a counteroffer to one prospect. When someone makes an offer or counteroffer, he gives  the other party the power of acceptance to create a binding contract.

    Source: Texas Association of REALTORS

  • Can seller counter multiple offers?

    Posted Under: Home Buying in Ingleside, Home Selling in Ingleside, Agent2Agent in Ingleside  |  September 24, 2013 1:46 PM  |  592 views  |  No comments

    A seller received two offers on his property at about the same time and wants to counter them both. Can he do this?

    Although he can do this, it’s not a good idea to counter both offers because the seller potentially could be bound to sell the property to two different purchasers if both buyers accept the seller’s counteroffers. Instead, the seller could reject both offers and invite the prospects to submit better offers, or the seller could make a counteroffer to one prospect. When someone makes an offer or counteroffer, he gives  the other party the power of acceptance to create a binding contract.

    Source: Texas Association of REALTORS

  • Can seller counter multiple offers?

    Posted Under: Home Buying in Austin, Home Selling in Austin, Agent2Agent in Austin  |  September 24, 2013 1:46 PM  |  744 views  |  No comments

    A seller received two offers on his property at about the same time and wants to counter them both. Can he do this?

    Although he can do this, it’s not a good idea to counter both offers because the seller potentially could be bound to sell the property to two different purchasers if both buyers accept the seller’s counteroffers. Instead, the seller could reject both offers and invite the prospects to submit better offers, or the seller could make a counteroffer to one prospect. When someone makes an offer or counteroffer, he gives  the other party the power of acceptance to create a binding contract.

    Source: Texas Association of REALTORS

  • Can seller counter multiple offers?

    Posted Under: Home Buying in San Antonio, Home Selling in San Antonio, Agent2Agent in San Antonio  |  September 24, 2013 1:45 PM  |  650 views  |  No comments

    A seller received two offers on his property at about the same time and wants to counter them both. Can he do this?

    Although he can do this, it’s not a good idea to counter both offers because the seller potentially could be bound to sell the property to two different purchasers if both buyers accept the seller’s counteroffers. Instead, the seller could reject both offers and invite the prospects to submit better offers, or the seller could make a counteroffer to one prospect. When someone makes an offer or counteroffer, he gives  the other party the power of acceptance to create a binding contract.

    Source: Texas Association of REALTORS

  • Can seller counter multiple offers?

    Posted Under: Home Buying in Houston, Home Selling in Houston, Agent2Agent in Houston  |  September 24, 2013 1:44 PM  |  618 views  |  1 comment

    A seller received two offers on his property at about the same time and wants to counter them both. Can he do this?

    Although he can do this, it’s not a good idea to counter both offers because the seller potentially could be bound to sell the property to two different purchasers if both buyers accept the seller’s counteroffers. Instead, the seller could reject both offers and invite the prospects to submit better offers, or the seller could make a counteroffer to one prospect. When someone makes an offer or counteroffer, he gives  the other party the power of acceptance to create a binding contract.

    Source: Texas Association of REALTORS

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