Notice to Perspective Purchasers
A real estate agent provides valuable services. There are certain aspects that are beyond the expertise of the agent and outside the services provided by the agent. You are urged to obtain the services of qualified experts to assist you with aspects of this transaction, which are not part of the services provided by the real estate agent. You are also urged to purchase a Home Protection Plan. Each of the following matters should be checked by you or qualified professionals of your own choosing who should provide written reports:
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INFORMATION TO BE OBTAINED FROM SELLER AND SELLER’S DISCLOSURES
TITLE INSURANCE COMPANY TO PROVIDE:
Title search of the property including the existence of liens, unpaid property taxes, existence of tax exemptions, pro-ration of taxes and assessments and any other items covered by the title insurance.
WE RECOMMEND YOU OBTAIN A NEW SURVEY TO VERIFY:
The boundary lines of the property, the location of improvements and structures on the property with respect to boundary lines, the elevation of the property, the size and area of improvements on the property, whether the property lies within a flood plain, and the location of easements and rights of way on the property and any other matter a survey might reveal.
Square footage is one, but not the only determination of value. There are several sources of square footage data including, but not limited to builders plans, appraisal, county appraisal district, and the seller. Square footage may vary from one source to another, and if important to you, hire an appraiser to measure during the Option Period.
INSURANCE – BOTH PROPERTY/CASUALTY AND FLOOD:
You are advised that there may be or have been litigation concerning the property, neighborhood, subdivision, or area. You are further advised to determine the existence of and content of any deed restrictions, regulations, and/or dues and assessments that may affect the property.
If the property you buy is outside the limits of a municipality, you should be aware that the property may later be annexed by a nearby municipality. You may find information on the boundaries of a nearby municipality by contacting the municipality directly.
Property Owners Association
The property may be subject to a mandatory membership in a Home Owners Association. You may request documentation on the HOA from the county clerk, Title Company, or HOA. Failure to pay dues may result in a lien on and foreclosure of the property.
Determining who owns the mineral interests under a property normally requires an expert to review the chain of title to the property. Many times the mineral interests have been severed from the property and may be owned by persons other than the seller. The contract commonly used in Texas provides that the seller’s mineral interest, if any, is conveyed to the buyer as part of the property. However, a seller may want to retain all or part of the mineral interests.
School attendance boundaries may change and are at times difficult to determine. The school’s boundaries that your agent provides to you or that may be provided through the MLS are only mapped estimated from other sources. You are encourages to contact the school district directly to verify the schools that residents will attend.
If you are concerned about sex offenders who may reside in the area in which you are buying, access www.txdps.state.tx.us. Contact the local police department to obtain information about any criminal activity in the area.
Statutory Tax District
The property you buy may be located in a utility or other statutorily created district providing water, sewer, drainage, flood control facilities and services. You are likely to receive prescribed notice when buying property in such a district.
Your real estate agent is not an engineer, inspector, or other professional concerning many defects that could exist in or on the subject property. He or she does not have expertise or special knowledge concerning fault lines, the suitability of soil for construction, soil expansion, drainage, flood plains, flood elevation certificates, insurance, and many other conditions that may affect the subject property or area in which the subject property is located.
RE/MAX Rewards and its agents do not warrant or guarantee any information or the accuracy of any inspections, reports, or MLS information made in connection with the subject property given either verbally or in written form regarding the subject property.