Pursuant to Section 535.227(b)(3)(C)(i), inspectors are not required to determine code compliance, utility sources, or regulatory requirements except as specifically required by the standards. The formation of a real estate contract requires "consideration" for the contract to be binding. The intermediary is prohibited from acting so as to favor one principal over the other, and may not reveal confidential information obtained from one principal without the written instructions of that principal, unless disclosure is required by TRELA, court order, or the information materially relates to the condition of the property. [Rule 535.154(a)(5)]. You will need to consult a private attorney. All business entities engaged in real estate brokerage activity, including partnerships, need to be licensed. This notice must be in writing. Zillow has 131,444 homes for sale in Texas. TREC cannot accept unsigned email or oral complaints against inspectors. Do I need a license to sell or lease mineral or mining interests? TREC does not determine what constitutes "procuring cause" or who is entitled to a commission or other compensation. As a licensed inspector I would like to advertise that my company performs wood destroying insect inspections. Yesterday, I discovered a big problem with the house that was never disclosed to me. You should consult with a private attorney for advice regarding termination of your contract. I am renewing my license. The proposed new §534.7 creates new vendor protest procedures that better meet the agency’s needs than the previous version. Can a license holder who negotiates a transaction also be employed by a lender and direct a purchaser to that lender to get a loan? A license holder’s failure to properly complete a TREC promulgated form completely and accurately could be considered negligence and subject the license holder to disciplinary action. No. Yes, a sales agent can own his or her own business entity. [TRELA §1101.652(b)(9)] Further, paying an operating expense or making a withdrawal from a broker’s trust account for any purpose other than proper disbursement of trust money is prima facie evidence of commingling. Paragraph 4 is also amended to include language regarding disclosure of existing leases and prohibits, without Buyer’s consent, any new leases, amendments to exiting leases, or conveyance of interest in the property. The Texas Association of Realtors (TAR) provides certain forms to its members. Although the TREC contract forms include a provision for the deposit of earnest money, if the buyer fails to deposit the earnest money the buyer is considered in default of the contract, and the other party may then exercise the remedies under paragraph 15 of the contract. Under inspector advertising Rule 535.221, an inspector may not engage in false or misleading advertising. Does TREC consider a logo that contains the broker’s full name sufficient for the broker name requirement? The license holder who offers to or actually pays cash to an unlicensed person for a referral is subject to disciplinary action. Whether to report inadequate headroom clearance as a deficiency is up to the reasonable judgment of the inspector. Is there a way for me to do that without going to the expense of obtaining insurance? Click on the "Manage my Sponsorship (Sales)" and click on the "Select" tab. Under the current law, a broker must agree to act as an intermediary in accordance with the statute if the broker agrees to represent more than one party in a transaction.
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