Side Letter

Alex
Home Buyer
Plano, TX

Is it normal to have a notarized side letter between seller and buyer agreeing the repair items without being presended to the ender? This is not amendment to contract. There is no saying on anything on the contract or amendment. Thanks for your insight.

Answers (7)
Naima Sumner
Agent
Dallas, TX

No, it's not normal.

Why would you not do an amendment to the contract? The forms are in place for that reason to avoid any conflict. Even verbal agreements in Texas have no value. We don't live in a world anymore where you can do business on a handshake, we live in a litigious society.

Naima
214-289-8555
Naima@Sumner-Realty.com

Thu Nov 5 2009, 22:51
Lynn911.com Dal...
Agent
Dallas, TX

DO WHAT ?

Where is your buyer's agent it should be amendment attached to your sales agreement therefore all parties are held liable prior to closing "blessed by " your walk thru, receipts presented at closing.

Lender does not care about repairs UNLESS foundation issue which may not pass appraisal

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

http://www.lynn911.com

Thu Nov 5 2009, 20:26
Chris Tesch
Agent
College Station, TX

Alex,

That would concern me quite a bit. They could change the contract under paragraph 22 and have the letter as a addendum, but otherwise there is no legal basis to pursue if they don't perform the repairs and if there is any money changing hands mortgage fraud probably is taking place. I would clarify this immediately with your agent and find out what the deal is and why they didn't put this on an amendment.

Good luck!

Wed Nov 4 2009, 08:13
Roxanne Deberry
Agent
Plano, TX

Alex,
Thank you for asking the realtor community to assist you. The other realtors that have already replied have given you sound information. You need to make sure you understand the process of buying a home and when something doesn't sound or feel right, you need to make sure you question your agent. It is their responsibility to make it clear on what is required based on the contract for purchasing a home. If you don't feel that you are getting good advice then you should contact their manager or Broker. If you still feel that there is something going on that is incorrect, I would contact the Texas Real Estate Commission and or a real estate attorney.


Thank you for allowing the real estate community to assist you.

Wed Nov 4 2009, 08:04
Kerry L. Thornh...
Agent
Dallas, TX

Sounds like mortgage fraud. Good luck!

Wed Nov 4 2009, 07:40
Tony Shadix
Agent
Dallas, TX

This is not normal. It is usually included in the contract.

Wed Nov 4 2009, 07:39
Lillie Reibold
Broker
Dallas, TX
FIRST ANSWER

Alex,
It's not normal to have any outside agreements. You should ask your agent, the one that is representing you as your buyer's agent for their advice on repairs.

Lillie

Wed Nov 4 2009, 07:37

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