All Forum Posts by: Nicole Garner

Hi Boyd Dixon - I'm a licensed Texas agent and might be able to help you. I'm based in the Houston area but lived in the DFW area for years and know the market. Private message me or send me a connect request if you would like to chat more.

Josselyne Lugo I don't know of a way to structure this deal with owner finance. As it was already pointed out, in this transaction it appears that you are acting as an unlicensed agent. Be very careful because there are legal ramifications for this violation that could be very costly. Texas laws are very clear in defining the scope of actions allowable by non-licensed professionals.

Welcome to BP @LOUIS WANDEU!  This is a great place to learn and connect with other real estate professionals.  Dig into the forums and read up!  You will find a lot of information to get you started.  

The counties will have a record of any liens filed against the property and most records are searchable online.  If you have a connection with a title company, you can always have them search for any encumbrances.

Good luck!

A seller that won't release the current P&L as part of due diligence.  That would set off some alarms for me immediately.  I would proceed with caution.

I love to hear positive feedback on great agents! If we ever look to expand our holdings to California, I will definitely keep him in mind.  Trusted long distance partners are hard to come by.

Hi @Account Closed! Welcome to BP.  I have some properties you might be interested in exploring.  Send me a connect request if you are interested.

I agree with Rachel Pervis on terminating the agreement. In Texas though, you don't have to ask for permission. Our standard representation agreement allows for termination by either party. You shouldn't have a problem terminating representation, especially since you have already stated the agent provided less than satisfactory performance. Good luck!

Welcome to BP @Account Closed!  Real estate is a lot of fun and the more you learn, the broader your horizon will become.  Don't limit yourself to what you think you might want to do based on what you know right now.  You're entire perspective will change after you get your feet wet.  My husband and I were only doing buy and hold, but have gotten hooked on the flip.  They can be a lot of fun!  

So dig in, read up, and when you're ready... jump on in!

The key to your claim is going to be the timeliness and manner in which your agent delivered your termination notice to the seller's agent.  The Texas Association of Realtors has covered this scenario.  

My buyer gave the seller a timely, written notice that she’s terminating the contract under the termination option in Paragraph 23 of the One to Four Family Residential (Resale) contract. The seller is upset and won’t sign the TAR Release of Earnest Money form. What can my buyer do to get her earnest money? (updated Feb. 20, 2015)

Under the provisions of Paragraph 18 of the contract, your client could make a written demand to the escrow agent that the earnest money be released. As long as the seller doesn’t object in writing to that disbursement within 15 days after the escrow agent provides a copy of your client’s demand to the seller, the escrow agent may release the funds to your client. Following these steps for disbursement releases the escrow agent from liability related to the disbursement.

If the seller does make a written objection to the disbursement, or his own written demand for the earnest money, the buyer will have written evidence to substantiate the seller’s wrongful refusal to release the earnest money. This might make it easier for the buyer to recover the liquidated damages stated in Paragraph 18:

-Three times the amount of the earnest money
-The earnest money-
-Reasonable attorney fees
-All costs of suit.

Although the amount of earnest money involved in any given transaction may not be substantial, a party who wrongfully fails or refuses to sign a release could end up liable for more than just the amount of the earnest money held by the escrow agent.

- See more at: https://www.texasrealestate.com/for-texas-realtors...

Good luck @Bhanu P.

Originally posted by @Rachel H.:

If she's already left the home, there's no need to file for possession. You may want to post a notice of abandonment. Change the locks and get the home secured asap. If there are safety issues, be cautious when you go into the area and the home. You may want to get the local police to perform surveillance on the home. I've done this in the past when I had some air conditioning units stolen from one of my units. Good luck! 

 I agree with Rachel; you shouldn't need to file for possession but posting a notice of abandonment covers your backside.  Secure the house to make sure she no longer has access then proceed with finding new tenants.  Sorry to hear there has been so much drama with your tenant.  While it may take a little longer to the house occupied, you might do a little more extensive screening to qualify your next tenant so you reduce the chances of another unplanned vacancy.  Good luck!