Real Estate News in Fort Worth | Chicotsky Real Estate

Need to Know Info: Once You're Under Contract

05.25.2018

Once a contract is signed by both parties, the property goes from Active to Active Option in MLS. Like everything real estate related in the state of Texas, the Active Option period is negotiable; with a 7 day buyer's due diligence period being standard. Depending often on the age and condition of the property, a buyer might want to secure a longer option period to give them more due diligence time - though even on an older home, asking for a...

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Real Estate Contracts in Texas and What You Need to Know

03.12.2018

Some areas of the main contract worth familiarizing yourself with as a homeowner or soon to be homeowner. This info is also important for sellers who will need to know the ins and outs of the contract to make sure they're aware of the intricacies of what is being negotiated. In the state of Texas, the One to Four Family Residential Contract (Resale) is the most prevalent contract used for buying or selling real estate - it was recently updated...

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What is a Prequalification Letter and Why Does My Agent Want One?

03.12.2018

What is a prequalification and why does my agent want one? Written by: Ryan Stephens of Ascent Home Lending, LLC Anyone interested in financing their home purchase must first work with a mortgage lender to get pre-qualified. Taking this crucial first step will result in a buyer receiving a pre-qualification letter and is what we call in the industry, a pre-qual for short. There are many intricacies involved with a pre-qual and a good listing...

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Not All Title Companies Are the Same

03.12.2018

Not all title companies are the same: What you need to take into account when choosing a title company. The good news for buyers and sellers of real estate is the title business in Texas is heavily regulated. All title companies must conform to strict standards and rules of compliance, making it hard to run into a terrible or unscrupulous title company as they likely wouldn't last long in this type of regulatory environment. Texas title...

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Multiple Offer Situation - How does it affect buyers and sellers?

03.12.2018

What is a 'Multiple Offer Situation' and how does it affect buyers and sellers? Multiple offer situations occur, as you might have guessed, when several buyers have submitted offers on the same house. This typically happens in a seller's market where inventory is low and demand is high (usually six months of inventory or less). This could occur all at once, or some listing agents selling the home will 'hold back' all offers for some period of...

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