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Home Buying in 78758 : Real Estate Advice

  • All28
  • Local Info1
  • Home Buying13
  • Home Selling1
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Activity 13
Sat Sep 26, 2015
My NC Homes Team answered:
TBD stands for To Be Determined, but this has absolutely no place in a legitimate contract.
0 votes 5 answers Share Flag
Sat Sep 26, 2015
My NC Homes Team answered:
None, move on down the road. The earnest money /optionfee should have been collected promptly, but honestly no one can make someone buy something they've decided (for whatever reason) they don't want to buy. Don't waste any more time, energy (and certainly not money) on this. At least it was only a few days that were lost. ... more
0 votes 3 answers Share Flag
Thu Feb 26, 2015
Jim Morelli answered:
Earnest money is to show good faith on the part of the buyer. In the event a buyer was to default the earnest money would be forfeited and then distributed according to the contract.
0 votes 15 answers Share Flag
Mon Feb 23, 2015
Ashley Stucki answered:
Earnest money is a negotiated amount that needs to be agreed upon by both the buyer and the seller. Customarily it's 1% of the contract sales price. Earnest money is held in an escrow account and is credited back to the buyer at closing. Your earnest money would also be returned to you if you back out during your option period (which is also a negotiated time frame but generally 7-10 days after you have an executed contract). ... more
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Tue Dec 30, 2014
Melissa Cox answered:
You need to talk to a real estate lawyer to get an accurate answer. They know the law and will be able to tell you if this is plausible in your situation.
0 votes 7 answers Share Flag
Thu Sep 12, 2013
Scott Godzyk answered:
YES, it usually means they are bankrupt or could not handle their own finances and have been taken over through a court appointee.
0 votes 7 answers Share Flag
Mon Jun 3, 2013
Shannon Black answered:
Good Point Shawn...But if you read Texas's Third Party Financing Addendum there is a number of days section listed...After however many days was filled it(Let's say 20) it states Buyer may give written notice toSeller within those days after the effective date of this contract and this contract will terminateand the earnest money will be refunded to Buyer.--- If Buyer does not give such notice within
the time required, this contract will no longer be subject to Credit Approval. Time is of
the essence for this paragraph and strict compliance with the time for performance is

TL;DR----If in Texas you don't perform in the days listed on the Third Party Financing addendum or give notice before those days, you can lose your earnest money.
... more
0 votes 10 answers Share Flag
Tue May 14, 2013
Jim Schaffrath answered:
Option Money must be deposited within 2 days of contract execution date. Earnest Money timelines are usually in the contract
0 votes 9 answers Share Flag
Tue Nov 27, 2012
Kevin Cottrell answered:
I'm puzzled by the term "offer" as well. From the comments below and no response back, it is likely that we're all simply 'fishing' with responses and assuming you're a FSBO. If so, an appraisal or fee valuation is one approach, but as a listing agent, I can tell you numerous stories of appraisals that had no basis in comparison to the price the home sold for. Just ask anyone in Austin who has had an issue getting a house to appraise when it goes with multiple offers and over list with limited comparable sales nearby or recent.

If your question was of the other variety, I concur with others that there is no 'validation' of offers by Trulia and listings are all (100%) listed in the MLS by licensed brokers.

Hope this helps.
... more
0 votes 12 answers Share Flag
Fri Jul 6, 2012
John Crowe answered:
Is your unit in receivership? I'm most familiar with this term applied outside of commercial real estate, really. If it's yours, I would gather you have gone through a foreclosure and your credit would be affected in a major way. If it's the condo association and related assets, that shouldn't hurt you though it would impact the potential sale. Perhaps you can fill-in the blanks? ... more
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Sun Feb 5, 2012
Betina Foreman answered:
Dear Brian,
I would contact a Florida Realtor or Broker and see what is considered normal in that market. The Austin home market is very differant from Florida. Austin does not have that many short sales or foreclosures and Florida is a very distressed market from what I have read. I wish you luck on the purchase. ... more
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Wed Jan 18, 2012
J. Mughal answered:
Contact a local agent and request CMA and you will learn if the house is priced right and what to offer.
0 votes 6 answers Share Flag
Sun Sep 19, 2010
Bill Eckler answered:

This would seem to be a bit of a conflict of interest but its legality should be based on the HOA By-laws. Additionally, we would assume, the president ot the association arrived as his position through the elcetion process and if so, the electorate saw no conflict.

Issues of legality, should be brought to the attention of an attorney to be certain.....

Good luck,

... more
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