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

Form 1506 Revised to Reflect Market Conditions

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

Sad News. Tim Harrington of Austin, Texas passed away in mid-February 2024 from a heart attack. His Memorial Service is 2/29/2024 2 pm, @ Austin Ridge Bible Church in Westlake.

The Above Photo was taken by Jim Innes during his Podium Eulogy talk for Tim Harrington. To Say the Westlake Austin Ridge Bible Church memorial service was PACKED, would be an understatement. Tim Harrington was a good man, and friend of many. He was relatable, authentic, funny, caring and social. George Vance..... Just making sure you know that Tim Harrington passed away last weekend. Heart attack. Tim’s Memorial Service will be: 2/29/24 at 2 PM at Austin Ridge Bible Church at 9300 Bee Cave Rd, Austin, TX 78733 in Westlake. At the Worship Center building. Please spread the word. GVM speaking here, "Tim showed up on my 40th birthday at Pitch N Putt for an afternoon of golf and bullshit. Tim was in good spirits that afternoon after boasting of his mega million dollar commercial fresh sale in SoCo. St. Elmo @ the ol' Hills Cafe. Tim was a former SOUTHWESTERN door to door salesman and alumnus like me. A fellow bookman. Tim showed up @ my BookPeople booksignin...

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