Living the Real Estate Life

HAPPY THANKSGIVING 2021

What is Your 1st Thanksgiving Memory?
What is Your 1st Thanksgiving Memory?

Happy Thanksgiving and may GOD bless you throughout the holiday season.
Live Life to the Fullest,
Scott

November Texas Legal Update 1 & 2

https://livingtherealestatelife.com/class/broadcast-legal-update-1-37796/
https://livingtherealestatelife.com/class/broadcast-legal-update-2-37797/

Helping Texas Real Estate Agents to…
Live the Real Estate Life,
Scott

BROKER RESPONSIBILITY Class

Are you the leader of a team or maybe thinking about starting a team. Join me for a 6 hour educational opportunity Tuesday, September 14th.

I look forward to helping you to…
Live the Real Estate Life,
Scott

EXCITING 3 HOUR CE CLASS

BROADCAST NEW Ideas for Selling NEW Homes #41301 | Living the Real Estate Life

I look forward to helping you to..

Live the Real Estate Life,
Scott

Live IN PERSON Contracts Class

These 3 Hours satisfy the T.R.E.C. CONTRACTS Continuing Education requirement.
Register for the series by clicking the link.
https://livingtherealestatelife.com/class/in-person-p-r-o-to-close-contracts-complete-series/

I look forward to helping you to…
Live the Real Estate Life,
Scott

CLASS: VOICE ACTIVATING REAL ESTATE #39400

Amazon turns ON Sidewalk June 8, 2021

Amazon will be turning on a new feature for their Alexa and third party devices on June 8, 2021. This new feature is called Sidewalk. According to the Amazon Sidewalk Privacy and Security Whitepaper: ” Customers with a Sidewalk gateway are able to contribute a small portion of their internet bandwidth, which is pooled together to create a network that benefits all Sidewalk-enabled devices in a community. This can include experience ranging from finding pets or valuables that may be lost and improving reliability for devices like leak sensors or smart lighting, to diagnostics for appliances and power tools.”

Here is how to get to the Sidewalk setting. Open the Alexa app. Click the “MORE” tab (it should be on the bottom right). Click “SETTINGS”. Click “ACCOUNT SETTINGS”. Click “Amazon Sidewalk”. On June 8th all Amazon Alexa enabled devices will have the toggle button in the “ENABLED” position.

Here’s the bottom line Amazon will turn on this feature AUTOMATICALLY on June 8th for all Alexa enabled devices. I think you should do your own research and decide if you want this feature on or off. June 8th it will AUTOMATICALLY be turned on.

Helping you to …

Live Life to the Fullest,

Scott

In Person Class coming soon

Texas residential Real Estate Agents, take another look at the AMENDMENT

I was talking to a real estate education friend of mine and she pointed out something that I think you will find interesting. Take a look at the Amendment to contract. Now look at the last revision date. The last revision was in 2015. I think it is really interesting that almost all of the main contracts…ONE TO FOUR FAMILY RESIDNETIAL CONTRACT (resale), and other contracts had numerous changes that went live on April 1st, but the supporting document, the document that is designed to update the contract had ZERO changes. This answers the question as to why some paragraphs were not renumbered… in order to keep other forms like this one from having a forced revision. But here is were it gets interesting.

We are talking about the ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (resale). The termination option fee was moved from the back of the contract to page two. The new procedure that is stated on this page is that the termination option fee is to be paid to the title company. The termination option fee can be included in the same check as the earnest money. No changes to the timelines but the timelines were explained better when it comes to holidays and weekends. That’s the backstory here’s the rest of the story.

As I said in the first paragraph the Amendment, TREC 39-8, has not changed. Bullet point (6) addresses the termination option: “Buyer has paid Seller an additional Option Fee of $ for an extension of the unrestricted right to terminate the contract on or before 5:00 p.m. on _______________, 20__ . This additional Option Fee [ ] will [ ] will not be credited to the Sales Price.”  So your initial termination option fee goes to the title company, but if there is an additional option fee the title company WILL NOT be accepting it, BUT they will have to know that it happened so that it can be credited to the Sales Price. So the seller is not completely at the mercy of the Texas contract, they will directly be receiving any additional termination options. Interesting, very interesting, and yes I have more to say but that’s all for now.

Helping you to…
Live the Real Estate Life,
Scott

Clearing up the M.U.D. in Harris County

Let me first say that you can NEVER stop learning, however I think that I am close to mastery on this topic.  I have been researching Municipal Utility Districts for over two years now in order to get a clear understanding of The Texas water Code as it relates specifically to selling a One to Four Family Residential home in Texas.  I am writing this to bring sellers, buyers and real estate agents up to speed on my latest findings.  This is not an all-inclusive article.  In other words you will have to have a basic knowledge of how Municipal Utility Districts work in Texas in order for a lot of this to make sense. If you are a buyer or seller you can reach out to me directly.  If you are a Texas real estate salesperson or broker I would direct you to my website www.Livingtherealestate.com so that you can access my calendar and see when I am teaching the M.U.D. topic next.

            Here is the revelation for this article both the why and where.  Remember this is not all inclusive information.  Harris County is an extremely large county and if you are practicing real estate in the Houston area you will more than likely be working in Harris County at some point in time.  Harris County has two Municipal Water Districts that you need to be aware of—1) Harris County Flood Control District 2) Port of Houston Authority.  Both of these encompass all of Harris County.  This is the why, why you do NOT need to present the statutory notice.  Now for the where….Where did I get this information?  I am glad you asked, according to the Texas Water Code SUBCHAPTER M, Section 49.452. “…and which districts includes less than all the territory in at least one county…” This is a really long sentence so I am only referencing the part for this article.  The key word is less, “less than all the territory in at least one county.”  So you do not have to provide a statutory notice for the Harris County Flood Control District or Port of Houston Authority because they encompass the ENTIRE COUNTY.  Yes it is that simple, you now have the why and the where.

            This brings me to my next point.  The website https://www.tceq.texas.gov/ has a map viewer with filters that show ALL of the Municipal Utility Districts for a specific property.  Yes you can have more than one M.U.D. for a property.  Using the TCEQ map viewer you can type in a property address and it will show you each boundary that the home is located in, so you can clearly see that the Port of Houston Authority covers all of Harris County and therefore you would not be required to present a statutory notice.

            That’s it short and sweet, I didn’t want to overwhelm you with information.  I hope you found this useful in your journey to….

Live Life to the Fullest,

Scott