July 7, 2008
Dear George: Can a seller require a potential buyer to be prequalified or preapproved for a loan through a specific loan officer?
Answer: Yes, a party can negotiate with another for any item. However, a seller in this case might lose a buyer if the buyer has already been approved by a different lender. It is a rather odd requirement for the average seller.
Dear George: I purchased a home in 2007 and want to file a complaint against the real estate agent who represented me. Is there a time limit on such complaints?
Answer: Yes. The Texas Real Estate Commission cannot investigate complaints that are filed more than four years after the date of the transaction.
Dear George: A seller in Texas must disclose to a buyer that a violent crime occurred in the home. Does the owner have to make such a disclosure if he wants to rent the home?
Answer: Under the Texas Deceptive Trade Practices Act, such an omission could be construed as a failure to disclose, although we haven't seen it apply to rentals. Nonetheless, we suggest that it be disclosed. If a prospective tenant is going to have a problem with the violent crime that occurred on the property, it is better to seek a tenant who will not have a problem with it.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
