Note changes to ranch contract starting Sept. 1
Q : Has the ranch contract changed? Someone told me that the only change is you have to add the statement, “Do not sign if there is a separate written agreement for payment of Broker’s fee.” Is that correct? If it is, when do we have to make that change?
A : Yes, that is correct and the Ranch Contract modification will most likely be adopted on an emergency basis, mandatory for use starting September 1, 2015.
Q : Has TREC changed the Residential Condominium Contract (Resale)? If it has, what is the change and when does it take effect?
A : Yes. New contract form 30-11 was presented at the TREC meeting on August 17. There is also a change to the Condominium Resale Certificate pending adoption. It will require the HOA to provide a balance sheet for the organization. It will become effective whenever TREC says it becomes effective.
Q : Is it true that TREC has proposed changes to the Seller’s Disclosure of Property Condition? If it is, when does it become effective?
A : There is one change to the Seller Disclosure Form. It is a disclosure that the property is located in a groundwater conservation district or a subsidence district. It becomes effective on January 1, 2016.
Q : Is there a way I can check to see if a Realtor or Realtors has ever had any complaints filed against him or her?
A : The Texas Real Estate Commission’s website at http:// www.trec.state.tx.us in its FAQ’s states: At the top of TREC’s homepage go to “Search Licensee Info / Education” and type in the license holder’s name and click.
Then click on the license holder’s name from the list that you are given. Under the result box that you receive will be a line entitled “Disciplinary Search”. Click on this to see what disciplinary actions have been taken.
If no “Disciplinary Search” line appears under your name search result, then there have not been any disciplinary actions taken against that license holder.
To send us a question visit www.AskGeorge.net and select the “Ask a question” button. Our answers to questions do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney. George Stephens is the broker of Stephens Properties. Charles J. Jacobus, J.D. is Board Certified by the Texas Board of Legal Specialization in Residential and Commercial Real Estate Law.