Real Estate
UNIQUE FINANCIAL CONSIDERATIONS IN PURCHASING A TOWN HOME
Thinking about buying a townhome? They are all the rage in Houston, springing up like mushrooms, especially inside Loop 610. What are the major issues you should be aware of? You will be buying into a community as well as a residence. Just as a residence needs maintenance and upkeep, so do the “common areas”…
Read MoreBUYING A HOME IN A HOMEOWNERS ASSOCIATION (HOA)PROPERTY OWNERS’ ASSESSMENT
There is a growing trend that residential homes, townhomes, and condominium developments are part of a homeowners’ association (HOA). Anyone who buys a home in an HOA is bound by the terms and conditions of that HOA’s Deed Restrictions. HOAs typically involve ‘common property’. Depending on the situation, common property could be interior sidewalks, roads,…
Read MoreHIGH-DOLLAR HOME IMPROVEMENTS STAYING SAFE
I get several calls a week from people who feel they have been cheated out of their money in high-dollar home repair matters. They are looking to get their money back or recover damages. In most cases, when they come to me after the deal has gone south, very little can be done. WHY IS…
Read MoreHOME REPAIR AND REMODELING WARRANTIES WHAT ARE THEY WORTH
Home repair and remodeling projects are high dollars, high anxiety, and fraught with financial risk. In Texas, there is almost no regulation over a person who calls himself or herself a “contractor”. Many contractors will be offering some sort of warranty to soothe your worried mind and spur you to sign up. What are these…
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Landlord-Tenant Law
The Lease
Whether you rent a house or an apartment, you will likely be required to sign a lease. A written lease gives you certain security. It is for a specific period, anywhere from months to years, during which the rent is specified. Leases are written by the landlord, so it will be filled with numerous restrictions…
Read MoreBUYING OR SELLING A HOME: HOME INSPECTIONS
In buying or selling a home, a home inspection is essential. For the seller, an inspection is important, to prevent any unexpected surprises from the buyer’s inspection that may require a renegotiation of the sale price. For the buyer, an inspection will reveal hidden defects. Even though seller may have lived in the house for…
Read MoreHOMEOWNERS ASSOCIATION ASSESSMENTS AND SPECIAL ASSESSMENTS
When considering a purchase of a home, townhome, or condominium that is part of a homeowners association (HOA), always consider the costs of the homeowners association annual and special assessments BEFORE you make an offer to buy. These can run into hundreds or even thousands of dollars a month, sometimes as high as the rent…
Read MoreMECHANICS AND MATERIALMEN LIENS ON HOMESTEADS
A PRIMER FOR TRADESMEN AND SUPPLIERS A Mechanics and Materialmen’s Lien (M&M lien) is a collection tool available to tradesmen and suppliers to enforce payment for work done or materials supplied on construction projects. If a tradesmen or material supplier (“contractor”) is not timely paid by a property owner, a properly filed M&M lien allows…
Read MoreWHAT IS A TRANSFER ON DEATH DEED
In Texas, a transfer on death deed is a simple way to transfer your interest in real property at your death, without having to use a will, or go through probate. What is it? A transfer on death (TOD) deed serves a similar function as a beneficiary named on a bank account but applied to…
Read MoreWHAT IS A HOMEOWNERS ASSOCIATION?
Many single-family home communities and most townhome communities are regulated and controlled by Homeowners Associations (HOA), also known as Property Owners Associations. Whether you rent or own, if you live in a neighborhood that is subject to an HOA, you are bound by its terms and conditions. Most HOA’s were established by the real estate…
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