Licensed buyer disclosures with a motivated seller

4 Replies

In Texas, when we buy or sell a property we must disclose that we're a licensed real estate agent.

I was also told by one of my instructors that if a seller wants to sell their property for under what it's worth, as a licensed buyer we must disclose the potential value of the property. Ex. Buying a 75k house worth 100k.

Any licensed real estate investors experienced a situation like this? How do you document that you have disclosed this to the seller?

I don't think the disclosure needs to be made as to a dollar value to an expected price, how would know, you could give an estimate and say more or less. These disclosures are a good idea, especially when you are buying but in any sale where there is a distressed sale.

I suggest you ask your broker for the specific disclosure if you have a license.

You said instructor, so I assume you're not past the exam yet, you aren't a licensee and you have no disclosure requirement, yet.

Just because you might say "Mr. Jones, in the right market conditions, where there might be a willing and able buyer, having sufficient knowledge of the property and market, where bot of you deal in good faith, after having this property exposed in the market for a sufficient period of time, with consideration being paid in its cash equivalent it is then possible that this property might sell for $100,000.00, but my signing below, you are agreeing to sell today, without any other conditions being required for $75,000.00"

What's so hard about that? :)   

Find this thread an informative one, can help the folks aware about licensed buyer.

Originally posted by @Bill Gulley :

I don't think the disclosure needs to be made as to a dollar value to an expected price, how would know, you could give an estimate and say more or less. These disclosures are a good idea, especially when you are buying but in any sale where there is a distressed sale.

I suggest you ask your broker for the specific disclosure if you have a license.

You said instructor, so I assume you're not past the exam yet, you aren't a licensee and you have no disclosure requirement, yet.

Just because you might say "Mr. Jones, in the right market conditions, where there might be a willing and able buyer, having sufficient knowledge of the property and market, where bot of you deal in good faith, after having this property exposed in the market for a sufficient period of time, with consideration being paid in its cash equivalent it is then possible that this property might sell for $100,000.00, but my signing below, you are agreeing to sell today, without any other conditions being required for $75,000.00"

What's so hard about that? :)   

 I just got my license last month but it's still in inactive state.  I'm still in the process of finding a broker.

But that is a good way to disclose the situation!  Thanks!

Originally posted by @Richard Collins :

Find this thread an informative one, can help the folks aware about licensed buyer.

 Agreed richard!!

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