All Forum Posts by: Bret Allen

@Michelle Kocurek

Unfortunately your remedies are generally limited by the contract terms and the statute.  You may want to take a look at Texas Property Code Section 93.011 and seek the advice of a local attorney if you have further questions.  It is usually not a great plan to assume rights that you aren't clearly entitled to via the contract, statute, or other law.  

Disclosure:  Bret Allen is an attorney licensed in Texas and California but he is not your attorney.  The information shared here is for general education purposes only and does not create an attorney client relationship.  You should seek the advice of your own attorney before making any decisions from information found here.

Real estate attorneys, agents, title companies, etc. all have different roles and responsibilities in the investing world.  Combining your attorney and real estate agent into one can save you money, can help you close more transactions, give you assurances and peace of mind, and give you an upper negotiating hand on legal heavy real estate deals.  Please visit Bret at www.bretallen.com or contact him by calling 469-795-1034 for a free consultation.

Thank you,

Bret Allen

**Bret is an attorney licensed in Texas and California with Angel L. Reyes and Associates P.C.  He is also a real estate agent (#669065) with First Premier Realty, Inc.  This advertisement does not create a attorney-client privilege and is not legal advice.  

Real estate attorneys, agents, title companies, etc. all have different roles and responsibilities in the investing world.  Combining your attorney and real estate agent into one can save you money, can help you close more transactions, give you assurances and peace of mind, and give you an upper negotiating hand on legal heavy real estate deals.  Please visit Bret at www.bretallen.com or contact him by calling 469-795-1034 for a free consultation.

Thank you,

Bret Allen

**Bret is an attorney licensed in Texas and California with Angel L. Reyes and Associates P.C.  He is also a real estate agent (#669065) with First Premier Realty, Inc.  This advertisement does not create a attorney-client privilege and is not legal advice.  

@Greg H. and @Joseph B. Davisson have given you good advice.  Feel free to give me a call if you get stuck.  I would be happy to answer some questions for you to help you get set up.

Bret

Welcome to BP @Matthew Sanchez.  Good luck and let me know if I can help you with anything!

I have used https://www.4closure.info/ in the past.  I like their format and the data is easy to follow.  A little $$ though.

Here is the TREC rule for those interested . . .

(b) A person may acquire an option or contract to purchase real estate and then sell the option or contract, or offer to sell the option or contract, without having a real estate license provided the person does not use the options or contracts to purchase to engage in the real estate brokerage business. Rule 535.5 of the Rules of the Texas Real Estate Commission.

@Mark S. thanks for putting this together.  I will try to attend.

@Mitchell Kraemer and I have not rented out properties in this situation, although I see it happen all the time.  I am unaware of any Texas law that restricts you from renting it out.  You are the owner, you have a deed, you have control and possession -- although it is subject to the right of redemption.

Good Luck!

If the Property is located in Texas and the papers that you want reviewed (legal paper, such as private lending, joint venture etc) are based on the Texas deal, then you might want to consider using a Texas attorney. 

However, you don't generally need to own a Texas entity to purchase a single property in Texas.  Many transactions can simply be done with your NY/Illinois/Delaware entity without even registering as a foreign entity doing business in Texas.  Take a look at TX BOC 9.251 for a list of things that are not considered "transacting business" in Texas.