Tag Archives: legal faq

What brokers should know about branch-office licenses

I sponsor several agents who work out of their homes. I have a license for the main office, but another broker told me that I’m required to also have a branch-office license for every agent’s home. Is that true? It … Continue reading

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Does granting a commercial buyer’s feasibility study period and inspection rights obligate a seller to make repairs?

My client submitted an offer for a commercial property using the Commercial Contract—Improved Property (TAR 1801) with a request for a feasibility period and the right to inspect the property. The seller rejected my client’s offer because he is selling … Continue reading

Posted in Commercial, Legal | Tagged , , , , | 2 Comments

Can a landlord require a photo ID with rental applications?

The landlord for the property I manage wants all potential tenants to submit a photo ID with their lease application. Can I require that? Yes, but you should only use an applicant’s photo ID to verify his or her identity … Continue reading

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Who should be the point of contact for notices?

Whose contact information should be written in Paragraph 21 of TREC contracts to receive notices? There isn’t one correct answer to that question. However, you could consider using the buyers’ and sellers’ contact information. Why? Because time is of the … Continue reading

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Who gets the security deposit if you don’t manage the property anymore?

As a property manager, I maintain a trust account for tenants’ security deposits. The landlord terminated our management agreement effective today, and a tenant in the property notified me that he wouldn’t be renewing his lease when it expires next … Continue reading

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Can a listing broker put a conditional offer in the MLS?

I saw a listing in the MLS that offered compensation for cooperating brokers of that MLS. The listing broker wrote in the agent remarks that the compensation offered would be reduced if the contract closed after a certain date. Does … Continue reading

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True or false? A seller always has to accept a full-price offer

My seller’s property was listed on the MLS for $150,000. A buyer made a full-price offer, but my client decided not to sell. Now the buyer’s broker says my client has to accept the full-price offer. Is she correct? No. … Continue reading

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