Is earnest money refundable? The release of earnest money is possible in Texas, under certain circumstances. In this article, we’ll talk about what those circumstances are, and any special considerations that you may need to advise your buyer to take before they sign the contract. Read on to discover how to ensure the return of […]

The option period is at the beginning of the purchase contract period, but when does it start? How long does the option period last? What are the consequences for not acting quickly enough? We’ll answer all of these questions and more as we dive into the details of the option period.  The Beginning of the […]

Buying a new home can be stressful, even more so for the buyer when they see their option period dwindling down as they experience delays. It’s stressful for the seller too – in fact, according to a Zillow report, 95% of sellers are stressed by at least part of the process of selling their home. […]

In order to secure an option period for your client, they must first pay an option fee to the seller of the home. This is because of the legal principle in real estate contracts known as “valuable consideration.” Since the buyer is asking the seller not to accept offers for a certain time period while […]

Earnest money is an important part of the real estate transaction process, especially when your buyer is up against several other interested buyers. If you find yourself in a situation where your buyer’s offer is accepted by the seller, the last thing you’ll want to do is miss the deadline for the earnest money deposit […]

When your clients have a smooth home-buying experience, it’s as if the birds are chirping, the sky is a brilliant shade of blue, and all is right in the world. Sure, it might be a little stressful at times, but nothing compares to that feeling of knowing they’ll finally own a home. However, if they […]

Can Seller Back Out of Contract During Option Period? Sellers’ Options During the Option Period Purchase agreements (signed by the buyer and the seller) are legally binding contracts, so there are very few options available to sellers who want to back out of the contract. Parties are only released from these contracts when the sale […]

Have you ever wondered if there’s a way to waive the three day closing disclosure rule? In this post, we’ll review the three day closing disclosure rule (and the deadline differences between those sent by mail and those that are hand-delivered), along with what requirements there are to waive the three day waiting period, and […]

Transaction Coordinator checklists are an important tool for savvy real estate professionals. Checklists ensure that nothing is overlooked in the transaction process, and the best real estate transaction checklists are highly detailed. Checklists differ depending on what side of the transaction you are on, so we’ve included both to cover as much ground as possible.  […]

Any experienced agent knows that real estate is a lot more complicated than the average client thinks. It’s no wonder that 49% of agents work more than 40 hours a week, while the average American only works 34.4 hours a week! One of the best solutions for agents to dodge this time and effort-consuming bullet […]

As most agents know, real estate transaction coordinators have quickly become one of the most important members of their team. More and more agents, especially those closing more than the national average of 11 homes per year, are utilizing a “TC.” The value is quite clear: the transaction coordinator helps handle everything from contract-to-close in […]

It’s a growing trend within the real estate world. A decade ago, Transaction Coordinators were barely heard of and a unique concept within real estate. Now, you hear “Transaction Coordinator” or “TC” constantly throughout the real estate world. For example, check out this graph that shows the stable increase in Google searches for ‘Transaction Coordinator’ […]