Glenn Still

The problem is the buyer has no leverage after closing at all. The seller may have left town and be very hard to find.

So for practical reasons the seller should never be counted on to do repairs after closing.

Legally in Texas if a seller has fully disclosed to the buyer, and the seller has completed all repairs required under the contract, then the seller probably is not required to do any other repairs.

It is always strange to have something break the day a buyer moves in, but it does happen. There are hard feelings. That is the major selling point of those "home warrantty" companies. They can take care of those things. - Mon Jun 16 2008, 05:28

I have been in Real Estate in Tarrant County for 30 years. There is no online source for good accurate values because you have to see and experience the house before you can find a real value for the house. Zillow and those other web sites use weird comparables. Click on the comparable link and see for your self. You would never use those houses to compare with yours.

The Tarrant Appraisal District uses fairly good comparables. For the data about your home they use the permits you filed for or that the builder filed for. If the figure is too high the owner came in and argued. I think the figure on TAD is much better than Zillow and those other sites. Although I would not use TAD or Zillow or any other web based site to value a home I was buying or a home I was selling.

Pretty accurate would be how I would describe a very careful market analysis or a professional appraisal. They are estimates of what an informed buyer would pay an informed seller in an arms length transaction. - Thu May 29 2008, 10:40

When I take buyers out to see homes, if the house looks like it is the best priced house we find that meets their needs, they buy it right away. If you have it priced to high it may set for sveral months until you finally lower it to where it should be priced. If you price it right to begin with it will sell quick and buyers will expect much less negotiation. It might go under contract within a week. - Wed May 7 2008, 14:09

The confusion is how the law regulating loan officers was written. You can perform the functions of a loan officer without being licensed. I beleieve about half of the people performing the functions of a loan officer in the State of Texas are not licensed. - Tue Apr 22 2008, 06:56

This type of thing would be perfect if mortgage loans were commodities like gasoline or a bag of sugar. I think the loan process is complicated and a dishonest loan officer can put you into a very bad product (or even steal your identity). In Texas you are not required to have a license of any kind to be a loan officer, I don't know about other states.

I recommend that buyers apply for a loan with a local loan officer that has been recomended to them by freinds that have used them and been happy with their service. Come in armed with quotes and they will often be able to match them or tell you why it may be a loan that you are not wanting (an adjustable with a teaser rate or something).

I have nothing directly against lending tree, just the type of process. - Tue Feb 19 2008, 14:44

I think that if the buyer will look at all the homes that match what they are looking for, most of the time they will buy a home that is not a short sale or a foreclosure. I do not find those homes to be great deals when you adjust for the condition and compare them to the other homes currently on the market. - Wed Mar 19 2008, 11:13