A subdivision map filed Together with the county recorder's Place of work that displays the location and boundaries (good deal and block selection) of particular person parcels of land. Contrast with governing administration survey method and metes and bounds.
A legal procedure ordering a witness to look and give testimony or to current files less than penalty of legislation. TREC has subpoena powers.
An exception to your zoning ordinance, usually granted by a local governing administration. As an example, in the event you very own an oddly shaped whole lot that might not accommodate a house in accordance along with your metropolis's setback requirement, you can utilize at the suitable Business for a variance allowing for you to build nearer to a boundary line.
Somebody certified because of the Texas Real estate property Fee to have interaction in real estate property brokerage, possibly for a broker or being a salesman.
A prepared arrangement stating the terms on the sale agreed to by each buyer and vendor. TREC promulgated normal contracts must be used by all licensees, with selected confined exceptions. See earnest money agreement.
A provision inside a contract stating that some or all the conditions of the agreement will probably be altered or voided by the prevalence of a certain event.  A standard illustration is a Consumer who enters into the acquisition of An additional house just before his latest residence is marketed.
Statement in the phrases on which the mortgagor (borrower) could pay the whole or stated volume within the mortgage loan principal at some time previous to the owing day.
A licensee who has declared to stand for only the buyer inside of a transaction, irrespective of whether payment is compensated by the customer or even the listing broker via a Fee break up. Some brokers perform their small business by representing buyers only.
(two) may well not disclose the owner will accept a selling price lower than when compared to the inquiring selling price Until licensed in creating to do so with the owner;
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Flood plains are by definition matter to periodic flooding. They can be generally characterised by relatively flat topography and soil varieties which were laid down during earlier inundations by flood waters. If your property is during the a hundred-12 months flood plain, You will find a 1-in-a hundred prospect in almost any given calendar year that your assets will flood.
(one) A form of residential development. In Houston the term "loft" is applied quite liberally. It might consult with an older constructing which has been converted their explanation into household condominiums, or it may well necessarily mean a new mid-increase undertaking using a "loft-fashion" finish on the units.
An estimate of benefit based on the monetary returns that a residence can be expected to generate; capitalization. Distinction with the Charge approach to benefit and the industry information method of benefit.