Tag Archives: Realtor

Landlords/Tenants

Handguns – TX landlords and tenants

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Texas private property owners have the right to prohibit handguns, concealed or open carry, on their property. This includes rental property. Communication, verbal and written, is due notification to tenants.

The Texas Penal Code – Section 30.07(c)(3)(A) provides required language for prohibiting open carry, as well as The Texas Penal Code- Section 30.06(c)(3)(A) specific language for prohibiting concealed handguns on a private property. If the notification is included in the Texas property lease, special provisions section (26), Handguns TX landlords and tenantsclear and direct wording must state forbidding concealed weapons and open carry, separately.

Notice to every individual entering the private property can be signs conspicuously posted at each entrance. Again, the signs, one for open carry and one for concealed handguns, must use the language of the Texas Penal Code – Section 30.07(c)(3)(A) for open carry and The Texas Penal Code- Section 30.06(c)(3)(A) for concealed handguns – in Spanish and English, utilizing two contrasting colors with block lettering,  a minimum of one inch high. This is due notification to people other than the documented tenant.

Landlords can specifically ban concealed or open carry handguns on their property. The written notifications must specify either separately. Express and current notification to your tenants with any and all updates will provide clarity and confirm lease requirements.

This article is only applicable for the state of Texas. Check with legal counsel, a licensed Realtor® or your state association of Realtors®. The Texas Association of Realtors® provides further information for landlords and tenants.
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Home Buyers, Home Sellers

Time of day matters for termination of contract option period

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Effective, January 1, 2016, The Texas Real Estate Commission (TREC), implemented the time deadline as 5:00 pm (local to the listed property) for termination of the contract option period.Option termination

How many times in the past were you, as a real estate agent, conducting business at 11:57 PM?

 

#Realtor #REAgent

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Home Sellers

Processes for an inherited home -Realtors® & Legal

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This article is the second in a series to assist when you have inherited a property. The first article advised the immediate actions at the commencement of possession. Relationships and family matters are the first priority. After wrapping your head around your newly acquired responsibilities, professional real estate and legal consultations will guide and direct you through this process.

Processes for an inherited home

Preserving relationships during this emotional period will aid in creating a team of trust. The consequences of inheritance may have been previously known and expected. There may be high emotion or extreme surprise of the situation. Your new duties may include being a mediator, counselor, parent, and for lack of a better label, “leader of the pack”. Until the legal disposition of the property is received, in hand, by an authority, your response will be, “I will confirm the outcome when it is received”.

A consultation with an attorney is highly advised. If the will states an executor/executrix, the responsibilities are in writing. Direction for probating the will and executing the duties will become a court order. Laws vary by state. Documentation will be required by the real estate agent, Title Company and/or attorney(s) for transfer of the property.

If the inherited property is in the name of a trust, consulting with an attorney is also, advised. A trust may have detailed instruction for maintaining, liquidating, who may reside or visit in the home, disposition of the house’s contents, etc. The trustee will be directed by the contents of the trust. If the home is to be sold, a copy of the trust will be required by the Realtor® for confirmation of the authorized signer for all contracts and property deed/title transfer. Laws vary by state and jurisdiction.

The legal outcome of the authorized individual may not be well received by all involved parties. The authorized decision maker may be taking steps not conducive to named beneficiaries. The foundation of all decisions is now based on the written instruments created by the deceased homeowner. Your response will now be, “I am carrying out instructions based on “named deceased” wishes”.

If the home owner died without a will, intestate, an attorney will need to be consulted. No action can be taken until the inheritance of this property has been legally established. Laws will vary by state and jurisdiction. Legal counsel is highly advised.

A well-established Realtor® or real estate broker can assist you through the process of the documentation required to sell the inherited home. Unless they are an attorney, they cannot offer legal advice.

A real estate agent can professionally recommend the steps involved for listing the inherited residence for sale. He or she can provide a comparative market analysis (CMA) for consideration of the list price. A CMA does not replace or substitute for an appraisal. The real estate agent can also counsel with sale projections based on any changes that can be made to the house.

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Home Sellers

Processes for an inherited home

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This is the first in a series of articles in an effort to assist people with the sad situation of liquidating an inherited property and estate.  Death brings overwhelming emotion with unexpected responsibilities.

Our culture already includes limited schedules. The last thing you need is an extremely time consuming project thrown in the middle of your life. There are few individuals waking up and proclaiming they really want to maintain, repair, clean, clear out, and sell a relative’s home. If the estate includes rental or commercial properties, the task multiplies in terms of time and account management. The emotional baggage is part of this package, also.

Processes for an inherited home

Immediate actions include securing the property:

  1. Locate keys for –
  • Doors and windows
  • Safe deposit boxes
  • Padlocks
  • Outbuildings, sheds, pool gates, storage units,etc.
  • Vehicles
  • Riding lawn mowers, ATV’s, boats and recreational vehicles
  • Safes and firearms

2. Locate garage door remotes

3. Locate security system info

4. Remove pets

5. Make arrangements  or forward mail & deliveries

6. Evaluate services conducted -landscaping, exterminators, etc.

7. Locate legal instruments, documents and utility bills.

The relationship with the deceased will dictate whether detailed plans were shared or you’re driving blind in the dark. Directives in the form of wills, trusts, life estates and other legal documents will provide a course to follow. An appointment with an attorney is strongly advised. Executor/executrix or trustee authorization will be required to transfer title/deed to another party or yourself.  A reputable Realtor® can only advise you with the documents/authorizations required required to contract the home for sale or lease.

The location of the house is a factor in planning execution and disposition. If the home is not local, a schedule for travel and expenses associated, must be made. It is easy to acquire an “out of sight, out of mind” approach during stressful events and grief. Empty houses appear to deteriorate at a quicker pace than homes with life within.

This is stage 1 of an estate inheritance and liquidation. It is common to be dealing with an upset family/kinship. The routine deeds and responsibilities still need tended to. In all likelihood, you have a full time career or commitments in your life. Strong individuals can begin to bend when life changing experiences occur. Your BFF/spouse/significant other/life partner can assist in talking through timelines, delegation of duties, returning calls during this difficult time.

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Home Buyers

HOA -New Homeowner Association facts

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A new HOA changes as it grows
A new HOA changes as it grows

New construction means new home smells. No one ever walked on the carpets with their dirty feet. A brand new subdivision with clean concrete driveways. After the emotional high, you have questions for the first homeowners association (HOA) meeting.

A new community is often created by a developer. A limited number of occupied homes may result in promised amenities, not yet completed. New infrastructure and noisy construction may be still in the process. A new homeowner association changes as it grows.

The newly created HOA is often comprised of the developer and their personnel. Let’s face it, before the first home is built, the initial “rules” are created by the developer and team. It takes time to finish the task of constructing your neighbor’s homes. The by laws, covenants and deed restrictions, which should have been given to each buyer, will specifically state the “who is who” and directive actions and requirements. It should state how often an HOA meeting will be held.

If you have never lived in a subdivision with homeowner association requirements, there is a learning curve. If the developer still retains the majority on the board of directors, this company is still financing monuments, amenities – such as swimming pools, club houses, landscaping, running trails, play areas, etc. If the community will comprise of 750 homes upon completion, the homeowner association dues should be calculated to sustain the current subdivision financial needs. Until that point in time, roads, street lights, sidewalks, green spaces, tennis courts and/or other planned amenities must still be funded. The first residents must exhibit patience with the process.

The homeowner association board of directors is not a landlord entity. They are not responsible for crime prevention, out of warranty repair claims, neighbor disputes, street parking or loiterers. The HOA is responsible for what is specifically written in the covenants and deed restrictions. Out of kindness, the community developer can create a “Neighborhood Crime Watch” and erect signs. Again, this is out of the generosity of their own funds to erect signs and provide guidance and direction for setting up a committee. An HOA meeting is not the time and place to bring up neighbor disputes because you don’t like the type of utilitarian vehicles parked in your neighbor’s driveway unless the covenants and deed restrictions prohibit the action.

Study and read your subdivisions by laws, covenants and deed restrictions verbatim. If there is an opening for a new director on the HOA board, you have a chance to be elected to participate in future decisions for your community.  The rules and regulations will assist with maintaining property values, preserve the aesthetics of  where you live and provide your home with the same or better environment you purchased it with.

 

Your questions and comments are always welcome.

Copyright 2015 A. Peto-Selby, Realtor® All Rights Reserved.

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A. Peto-Selby, Realtor® – information blog

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Andi Peto-Selby, Realtor
BD Realty Advisors, LLC, Broker

Welcome to A Peto-Selby.com

Launching a new real estate information blog is as exciting as it is challenging. This website will communicate industry trends, standards, tribulations, as well as the entire process for buying and selling a home. It will also offer experience and source based educational resources for real estate agents, industry sales representatives and Realtors®.

This blog will not offer legal advice or ever proclaim to be able to replace legal counsel. The foundation of all material is researched through expert resources.

We do learn from each other – clients, customers, real estate professionals. Your comments and inquiries will always be welcome. Reviews and guest author contributions will also be posted.

Your business and trust is earned. I return telephone calls promptly. If you are considering the sale of your home or seeking to purchase a home – Call me -. 713.870.0208 

 

Email:     APeto- Selby@bdrealty.com

Broker website:       BD Realty Advisors, LLC, Broker     BDRealty.com

Always looking forward!

 

 

 

Copyright 2015 A. Peto-Selby, Realtor® All Rights Reserved.