Danny's Real Estate Blog - Blog Archive: August, 2016

Danny's Real Estate Blog - Blog Archive: August, 2016 Close
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August 2016

There are 2 blog entries for August 2016.

Some people may think it's all smooth sailing one your offer is accepted to buy a home, or once you accept one as the seller. It's not. There are plenty of ways a contract can fall apart, and for many different reasons. Now every contract is different than the next, so each experience will vary. But here's a list of ways there will still be negotiations after a house is put under contract.

Repairs/Treatments

As mentioned on my YouTube Channel (you really should subscribe to it), the buyer has the right to get an inspection done during the option period. Think of it as an MRI for the home. Once the inspection report comes back to the buyer, they will usually (not always) file an amendment to either have repairs made, sales price lowered as

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When you're buying a home, especially a preowned home, there's bound to be some issues which come up on the inspection report. Some are minor, some are major, but an amendment is filed by the buyer to request the seller(s) fix some things from the report. They can also request compensation in lieu of repairs, or a reduction in sales price. The important part to know is Paragraph 7, Part F of the One-Four Contracts.

It reads in full:

So what does that mean in non-lawyer terms? It means several things, and i'll itemize them below.

- Unless the amendment filed gives the sellers the ability to make repairs themselves, the repairs must be completed by a person who works in such a trade and is licensed by the State of Texas to engage in such

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