Ray Ellen

In Arkansas, ALL THINGS involving real estate MUST BE reduced to writing. It is in the Original contract you sent and they countered.
However, the seller cannot counter a counter. They have to draw up an entirely new contract.

CYA. Consult Your Attorney on this one, but I think you are right. Call a local real estate attorney and see if you have a case. If you do, have your real estate agent contact the broker and let them know that you have a legal opinion stating you are right and that you would like to avoid a law suit.

Good luck to you! Please post a follow up and let us know how this one goes! - Tue May 6 2008, 10:38

Here is some information on FIRPTA which is the Foreign Investment Real Property Tax Act. There is a lot to consider, but this is perhaps the most significant in my opinion.

http://www.irs.gov/businesses/small/international/article/0,…

Also, you may want to contact a CIPS: Certified International Property Specialist. The are Realtors who specialize in this and can tell you all kinds of rules and regs that are in place when buying, selling, & investing from overseas.

http://www.realtor.org/cipshome.nsf/pages/aboutcips

Good luck in your property search. Let me know if I can help you find property in Northwest Arkansas! - Mon May 5 2008, 10:25

Hey Joyce... I have good news and bad news.
Bad news: I have NO idea.
Good news: your message got posted in an Arkansas forum under "Hunt, AR" vs Hunt TX as your question suggest.

However, this wasn't a total loss! Here is a link for more information on that property:
http://www.realtor.com/realestate/hunt-tx-78024-1081862701
The company that has the property listed is: Texas Hill Country Properties, their office phone number is (830) 896-7070 & their website: http://www.texashillcountryproperty.com

The description does say: "Waterfront property" but that may not be a river.

I hear the Waco market it BOOMING! Good luck in your search. - Tue Apr 29 2008, 11:30

I can look it up for you no problem! It will take about 5 minutes. Send me an email with the property address & will will shoot back the info you have requested with details on where & how I found it. Most of the time the primary source for this type of info is the Multiple Listing Service (MLS). This type of historical data is not available to the general public.

I can also send you a full "comparative market analysis" for your property if you would like.

No obligation. No hassles, I only want to help.

Email: Ray@theRayTeam.biz - Wed Apr 23 2008, 18:29

Hey Lyndsay.
The Home Buyer's classes are a good idea. It is probably tough to find one in Berryville, but really, you can get all of the same info from reading books and researching online.
I know Crye-Leike in Rogers is hosting a home buyers seminar in the next month, but I'm not sure of the exact dates. I'll let you know.

Above all, don't rush into it! Now is a GREAT time to buy, but there will always be good deals and Real Estate is ALWAYS a long term investment. You want to make sure that you will be in that home for about five years to make a safe, wise investment.

About getting educated:
Here are some things you need to know...
#1. YOUR MARKET! Every market is different. Here in NWA, we didn't have the HUGE BOOM that everyone else had & we haven't had the GIANT SLUMP that other markets have had. We have been fairly stable with a few exceptions, but it is now a buyers market in our area.

#2. Your Investment Criteria. Find a good lender in the area you are looking to purchase. One way to do this is by calling several Realtors in that area and asking them for a short list of recommendations. Usually, one or two people will start to pop out on all of lists. Visit a Mortgage Broker & a Bank and ask them questions about what investment ranges your qualify for, monthly payment calculations, closing cost & be sure to pick up a "good faith estimate" that will show you all of the charges that you will pay (or have the sellers pay) at closing.

#3. What You're Looking For. Once you have some investment criteria, start putting together you NEEDS vs WANTS list. You may find the perfect home that meets all of your needs... that is most important. Sometimes, the wants can be added later. Like a Privacy fence or over sized closets or raised ceilings. Becoming too specific limits the search so much that you may miss out on seeing your perfect home!

#4. Get FREE Representation from a great Realtor! This may go against the grain of others, but in this market, it is important to find a full time professional who will be representing YOU. This is FREE to buyers!! The Seller pays the real estate fees and those fees are the same even if you don't hire a Realtor. There is no price break for not having representation. Most of the time, we see folks with out a buyers agent will pay a little bit higher price than those with representation. It REALLY helps in the education of that market & area, home search, in negotiations, & taking care of the logistics on the way to the closing table.
Also, look for an agent who has helped others purchase their first home! It never hurts to interview 3 Realtors and chose the one that best suits you. *(I'd love to be one of those if you are looking in this area - Fayetteville to Bentonville)

#5. WRITE EVERYTHING DOWN & GET EVERYTHING IN WRITING! Track this experience so that you can learn from it when you look for your next home or investment property!! Get everything in writing because if it isn't in writing and it pertains to real estate, Arkansas will not accepted it! It has to be in writing with all parties' signatures!

If you have any questions about the home buying process, feel free to call or email me.
(479) 422 - 2279
Ray@TheRayTeam.biz

The agents on Trulia will give you tons of advice, but just make sure you run it by a local Realtor because some things change from state to state.

I'm excited for you as you find your first HOME! It should be a TON of FUN! Happy Hunting! - Sat Mar 29 2008, 17:10