When a borrower defaults on a mortgage, the bank’s goal is to recoup the outstanding debt, typically through a public foreclosure auction. If the property fails to sell to a third party buyer at the foreclosure auction, ownership usually reverts to the lender though a credit bid. This property then becomes a Real Estate Owned…
DetailsIn the real estate market, some sellers, particularly banks, turn to auction companies when a property fails to sell through traditional listings. While these auctions are heavily marketed as a way to generate excitement and potentially secure a higher price, they are often viewed as primarily a marketing scheme with specific risks and rules that…
DetailsA new law, Texas Senate Bill 17 (SB 17) and codified in Chapter 5, Subchapter H of the Texas Property Code, took effect on September 1, prohibiting certain non-citizens and non-permanent residents from designated “hostile” countries from purchasing real property in Texas. While the law is broad, its impact has been most immediately felt by…
DetailsWhen a landlord seeks to evict a tenant in Texas who does not have a formal written lease (i.e., an oral rental agreement), the required notice period depends entirely on the reason for the eviction. A common misconception, even among some judges, is that a 30-day notice is always required for an oral or month-to-month…
DetailsWhen dealing with rental properties, a written lease agreement is always the safest practice for both landlords and tenants. However, the question often arises: are oral leases actually valid in Texas? The answer is generally, “Yes, but with limitations.” The Statute of Frauds Under Texas law, specifically the Statute of Frauds, an oral lease is…
DetailsIn the current digital age, property owners are understandably concerned about negative online reviews. This has led some landlords and property managers to consider including a non-disparagement clause in their lease agreements, essentially trying to prevent tenants from leaving bad reviews. However, this practice is largely prohibited by federal law. The Consumer Review Fairness Act…
DetailsThe rental market in Texas is seeing a significant demographic shift, with retired seniors increasingly opting to rent rather than own a home. This trend is especially pronounced in the state’s major metropolitan areas, reflecting a broader migration pattern across the Sunbelt. Senior Rental Growth is Skyrocketing Major Texas cities are experiencing massive growth in…
DetailsThe City of Austin has embraced technological innovation by investing $3.5 million in an AI-powered building permit system called eCheck. This new platform is part of a larger push by the city to streamline and accelerate the notoriously slow building permit process, which has often been cited as a major bottleneck for construction and housing…
DetailsThe investment viability of low-end condominiums in Houston, particularly those in the Class C range, is a frequent point of discussion for real estate investors. While the initial purchase price can be appealingly low, often in the range of $50,000 to $175,000 for one or two-bedroom units, the profitability of these properties as rentals is…
DetailsFor property owners and management companies, collecting the first month’s rent and security deposit presents a perpetual balancing act between ensuring the funds are secure and providing tenants with a convenient payment method. While traditional methods like certified checks offer security, they carry logistical risks. The industry is rapidly shifting towards secure digital solutions to…
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