Danny's Real Estate Blog - Blog Archive: May, 2017

Danny's Real Estate Blog - Blog Archive: May, 2017 Close
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May 2017

There are 1 blog entries for May 2017.

We all know storms are as unpredictable here in North Texas as a Cowboys football season. Tornadoes, hail, even the occasional earthquake can happen at a moments notice. So what happens if something happens to the house you're buying before you close on it? Enter the Casualty Loss paragraph of the contract.

What does this mean in layman terms? Basically, if the house you're buying is damaged or destroyed by fire before you close on it, you're not obligated to still buy it if the home is not restored to its previous condition before the closing date. Now if it's not restored due to a situation beyond the sellers control (such as insurance companies falling behind during a tornado outbreak, fire destroying the property, etc.), the buyer has a few

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