Skip to main content

Texas Realtors Association; Form 1506 Revised to Reflect current Market Conditions 4.27.2021

 









Texas REALTORS® has added a Property Values section to form 1506, General Information and Notice to Buyers and Sellers. This form is intended to be presented to clients so that agents discuss the topics on the form with their buyers and sellers.

The purpose of the new section is to address the current market trend of buyers paying significantly higher than list price or appraised value as well as potential future market trends.

The revised form is available now at texasrealestate.com and through all form-fill vendors. Here is the new language:

PROPERTY VALUES. The real estate market is cyclical and current property values may fluctuate. Brokers and agents cannot guarantee desired future market conditions or property values. The ultimate decision on the price and terms a Buyer is willing to buy and a Seller is willing to sell for a specific property rests solely with that Buyer and Seller.

If you have questions about the new language, please call the Legal Hotline at 800-873-9155.


Got a Real Estate  Question or inquiry in regards to Austin, Texas and Central Texas Real Estate? 

Contact Austin Silent Market's Broker Associate George Vance McGee

512.657.9281 georgevance@gmail.com










Comments

Post a Comment

Most Popular Posts on ATX Real Estate Life Blog

Per TheATX1 (@The ATX) on Twitter: Here are the Future Development Plans for West 6th and Lamar in Old West Austin, near Downtown, ATX.

 This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller. TheATX1 (@The ATX) posted: This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller.  https://x.com/theatx1/status/ 1944435039199985686?s=66
Post a Comment
Read more

Should you BUY a FLIPPED House? ATX Broker Associate GVM Tips, Insights.

 SHOULD YOU BUY a "FLIPPED" HOUSE?  Have you personally ever considered and wondered if you, yourself should BUY  a "flipped house." In my 15+ years of predominantly residential Central Austin brokerage practice and experience, here are my insights, opinions, suggestions and things to be cognizant of.  #1. Absolutely, for sure get a LICENSED INSPECTION on the flipped house! Not all flippers are the same. Just like in life there is a wide spectrum in regards to quality. Some flippers are flat out awful. They make very lipstick-like improvements, skip the expensive items such as the foundation, and plumbing and try to trick the consumer into paying more for a home, when the consumer shouldn't.  On the Flip Side (this joke was just too obvious) There are also excellent high-quality flippers whom selectively choose which homes they flip, and then they invest carefully and beautifully while genuinely  improving a home! Some of these hi-quality upper tier flippe...
Post a Comment
Read more

THE UNICORN LIST for Austin, Texas 2026 Edition via GVM Real Estate Broker:

  🦄 GVM's Austin Texas UNICORN LIST™ George Vance McGee's Favorite Local Professionals, Businesses & Hidden Gems 2026 Austin Edition By George Vance McGee, Austin Native, Real Estate Broker Associate, Austin Silent Market Austin is a rapidly & constantly changing city, but some local businesses, professionals, and community institutions continue to stand out. Over years of working in real estate sales, leasing, lot development and simply enjoying life in Austin, I've developed my personal "UNICORN LIST" of trusted local resources. A "Unicorn" is an ATX resident who was born and raised in Austin, TX. My mother Andrea Roberts McGee (rest in peace) birthed me at Seton Hospital on West 38th Street in November of 1981.  ⚖️ Real Estate Attorneys Claiborne Cowan & Associates Wills Probate Estate Planning Real Estate Legal Matters Jon M. Daves Evictions Landlord & Tenant Law Leasing Disputes Property Rights Shapiro & Dunn Business Law Practi...
2 comments
Read more