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The Texas Real Estate Commission (TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin. [ 1] TREC is composed of nine members appointed by the Governor with the concurrence of the Texas Senate. The members are appointed for six-year terms, with the terms ...
Much of that is by design, reinforced by the National Association of Realtors, a mega trade group with monopoly-like control over US real estate. There’s good news and bad news on the horizon ...
A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property. In ...
Option fee (Texas) In a real estate context, an option fee is money paid by a Buyer to a Seller for the option to terminate a real estate contract . Option fee funds should not be confused with earnest money . The use of option fees is most common in the residential resale market in Texas. [citation needed]
Under the previous practices sellers would be paying $26,547 in commissions. That customary rate is no longer the default. Sellers can now expect to be asked for just one side of the commission ...
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value).Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized ...
State, county and municipal governments impose real estate transfer taxes, although some regions have 0% transfer taxes. Generally, the purpose of real estate transfer taxes is to generate revenue ...
A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental ...