Texas Investors Question - Posted by Nick

Real Estate Investing
1

Posted by Bud Branstetter on December 11, 2001 at 09:49:30:

Main things and investor would not want to do.

  1. Record the contract
  2. Take 60 days to cancel the contract for non payment
  3. Add the occupant on the insurance policy
  4. Provide a survey
  5. Give the buyer 14 days to cancel the contract
  6. Translating contract to another language if negotiations where in that language.
  7. Specific clauses that must be included.
  8. Monetary penalties if statute is not followed.

I have emailed you separately the statute.

2

Texas Investors Question - Posted by Nick

Posted by Nick on December 10, 2001 at 22:16:04:

What is used in Texas, Land Contract, Contract for Deed, Agreement for Deed??

Thanks

3

See Bronchick’s post - Posted by Percy

Posted by Percy on December 11, 2001 at 09:40:58:

Try searching the archives for Texas and Contract for Deed.

Also see http://www.legalwiz.com/txcfdlaw.pdf

4

Re: Texas Investors Question - Posted by Dee-Texas

Posted by Dee-Texas on December 11, 2001 at 07:07:23:

Hello Nick,
The cut to the chase answer is: unless you have a free and clear property (that YOU own) a land contract is OUT of the equation. The new law states that a land contract has to be recorded showing ownership within 30 days? (I think).
FYI a contract for deed and land contract is the same thing in Texas.
Maybe there are LEGAL ways around it BUT since I’m NOT an attorney, I have no idea. Bronchick or some of the others might have some ideas.
Best RE SUCCESS
Dee-Texas

5

Re: Texas Investors Question - Posted by Terry (Houston)

Posted by Terry (Houston) on December 10, 2001 at 22:28:04:

CFD

But be careful. The state made a lot of ugly changes to them in September that make life difficult as an investor pertaining to CFD. If you slip up on these deals it can cost you big time now.

Terry

6

Re: Texas Investors Question - Posted by Steph in Tex

Posted by Steph in Tex on December 11, 2001 at 17:22:42:

Happy holidays!!

http://www.legalwiz.com/txcfdlaw.com

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Re: Texas Investors Question - Posted by Bryan

Posted by Bryan on December 11, 2001 at 03:32:29:

hi Terri. what would some of those changes be
Thanks
Bryan

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