The best piece of advice about real estate law is the fact that the average real estate agent does not fully understand the nuances of Texas real estate law. Real estate agents are trained to carry out highly specific legal functions, to complete forms and paperwork and to facilitate a lawful real estate transaction. They are not trained to evaluate a buyer or seller's legal rights and they do not know how to advocate for those rights in court if necessary.
Here are a few more legal tips that people should be aware of when buying or selling property in Texas:
- Check for tax liens: Some properties have tax liens associated with them. If you buy the property and a tax lien is attached to it, you will be on the hook to pay those taxes. Don't let this happen to you -- or, if it does happen, make sure you factor in the taxes when considering the total cost of the purchase.
- Do it by the book even if you're buying from friends: It's tempting to make a real estate transaction less formal if you're buying from or selling to a friend. However, when you follow the rules when carrying out your real estate transaction, you'll be more likely to preserve your friendship relationship and less likely to have problems later on down the road.
- Look for out-of-the-ordinary issues: Most real estate agents can carry out most real estate transactions lawfully and appropriately, but if there's anything unique about the property or the transaction, things might go over the agent's head quickly. Be sure to seek out legal advice when necessary to fully evaluate your situation.
Are you about to carry out a real estate transaction in Texas? Whether you're buying or selling, if you understand the nuances of Texas real estate law as they apply to your specific transaction, you'll have a better chance of protecting your rights and avoiding a costly mistake.
Source: realtor.com, "5 Things Your Real Estate Attorney Wishes You Knew," Warren Christopher Freiberg, accessed March 16, 2018