by Hancock, McGill & Bleau | Jan 14, 2017 | Buying Real Estate, Leasing, Real Estate, Selling Real Estate
Legislation passed in 2005 amended the laws dealing with executory contracts. An executory contract is a contract that has unperformed obligations on both sides of the contract. A contract for the purchase and sale of real estate that has not yet closed is executory...
by Hancock, McGill & Bleau | Sep 3, 2016 | Buying Real Estate, Financing, Real Estate, Selling Real Estate
As loan qualification requirements become harder to meet, more buyers are looking at owner financing as a source of funds to purchase real estate. This article focuses on transactions in which a seller of real estate is asked to carry a purchase money loan secured by...
by Hancock, McGill & Bleau | Jun 12, 2016 | Buying Real Estate, Closing Services, Real Estate, Selling Real Estate
In an ideal world, possession of property would occur at closing of the purchase. However, as you well know, we do not live in an ideal world and sometimes change of possession occurs before or after closing. Failure to properly document these short term tenancies...
by Hancock, McGill & Bleau | Mar 3, 2016 | Buying Real Estate, Real Estate, Selling Real Estate
On December 31, 2004 the Texas Supreme Court issued its opinion in 1464-Eight, Ltd. & Millis Management Corporation v. Joppich. This case turned on issue of the enforceability of an option contract if the recited nominal consideration is not paid. The Court...
by Hancock, McGill & Bleau | Oct 4, 2015 | Buying Real Estate, Real Estate, Selling Real Estate
Every few years I feel compelled to write about buyer agency and intermediary status because I continue to get calls from irate buyers and sellers (primarily buyers) who feel they have been abused by a broker or agent attempting to serve as an intermediary in a...
