If you’re planning to sell your home in Texas, you almost always need to provide a seller’s disclosure form. This form is provided to buyers informing them of any known defects to the property, previous repairs, and general property conditions. There are a few exceptions for the mandate to provide a seller’s disclosure, and they are noted in the Texas Property Code. These exceptions include:
While a seller’s disclosure is not required in these cases, you may still want to provide a seller’s disclosure if you have knowledge of the property. One of, if not the most, common reason for lawsuits in real estate is from failing to disclose known information about the property condition. So, if you own a fourplex, and you previously were the landlord for the property. You likely know about some aspects of the property’s condition. I’d recommend completing a seller’s disclosure form even though you are not required to per the Texas Property Code.
The seller’s disclosure form I recommend my clients use is the Texas Association of REALTORS® Seller’s Disclosure Notice (TAR-1406). This form is composed of eleven sections. The first section simply lists which features a property has.
The second, third and fourth sections deal with known issues, defects or conditions at the property. The fifth section addresses a range of property conditions including if the property is located in an HOA. The sixth section deals with the survey, and the seventh section asks owners to list any inspections provided within the past four years. If you have an inspection report from this time frame, you must provide it. Section eight pertains to tax exemptions, and section nine addresses insurance claims to the property. Section 11 require’s seller’s to disclose knowledge in regards to the presence of smoke detectors on the property.
The last page of the seller’s disclosure notice should not be ignored. It discusses additional notices to buyers and the utility providers for the property. Filling out the utility provider fields will make it much easier for the buyer to transfer utilities when the property is sold.
If you have questions about the Texas Seller’s Disclosure notice, or selling your home, contact me today.
Austin's Lady Bird Lake
Lady Bird Lake or Town Lake as it was formerly known, is a dammed portion of the Colorado river situated just south of downtown Austin. Currently the lake and its surrounding hike and bike trails serve as an attraction for locals and visitors alike. However, Lady Bird Lake was not always as beautiful as it is now.
The lake was created in 1960 as a cooling pond for the adjacent Holly Power Plant. In its early days, Town Lake, as it was known at the time, was an eye-sore. In the early seventies, the Mayor of Austin, Roy Butler, established the Town Lake Beautification Committee. Lady Bird Johnson was appointed the honorary chairman of this committee. In this role, she led the planting of hundreds of plants and trees and the establishment of the hike and bike trails around the lake.
When Lady Bird Johnson died in 2007, Town Lake formally changed its name to Lady Bird Lake in her honor. If you’re visiting Austin, I highly recommend you take a visit to Lady Bird Lake. While you are not permitted to swim in Lady Bird Lake, you can use non-motorized water boats. As a kid, I remember renting a pedal boat for an afternoon on Town Lake, but now stand up paddle boarding is by far the most popular recreational activity on Lady Bird Lake.
If you don’t want to be on the lake, you can take advantage of the trails surrounding Lady Bird Lake. A ten-mile loop offers the perfect landscape for one to explore Austin by bike, or if you feel like walking or running you can also make a shorter loop.
This post originally appeared on activerain.com
If you’re considering buying a home in Austin, it’s a smart idea to consider the property tax rate of prospective houses. Property tax rates can vary significantly throughout central Texas, and oftentimes your property taxes are going to make up a significant portion of your monthly mortgage payment. In a previous post, I discussed the benefits of purchasing a brand new home. If you’re looking to buy a brand new home in South Austin, you may want to consider purchasing in one of these three great communities. Each of these new home communities in the Austin area has a property tax rate under 2%.
Hills of Bear Creek
The Hills of Bear Creek Development by Milestone Community Builders is located approximately 14 miles south of downtown Austin off FM 1626 in the City of Manchaca. Homes in the Hills of Bear Creek are the most affordable on this list starting at 290K. The Hills of Bear Creek is a multi-phase development that is more than 50% complete. They have inventory and soon to be completed homes available in Phase 4. If you would like to choose your lot and selections, you can do so in the last and final Phase 5. The community offers 9 unique floor plans that all come standard with desired features such as granite countertops, open floor plans and energy-saving technology. Additionally a plethora of community features such as a pool and grilling area offer even more reasons to consider the Hills of Bear Creek home.
Homes for sale in the Hills of Bear Creek
Bear Creek Crossing
MI Homes’ Bear Creek Crossing neighborhood feels like you are in the middle of the country. In reality, the community is less than 15 miles from downtown Austin and about 10 minutes from the South Park Meadows shopping center which has just about every large retailer you can think of and a plethora of restaurants. Homes in Bear Creek Crossing range from 1,825 to 4,000 square feet, and are priced from 313K. Tall ceilings, 42 inch kitchen cabinets, and a plethora of options for customization make Bear Creek Crossing homes a great fit for almost everyone. The tax rate for Bear Creek Crossing is the lowest of all the homes on this list at 1.86%.
Homes for sale in Bear Creek Crossing
Enclave at Estancia
The Enclave at Estancia is a gated community built by Lennar. The Enclave at Estancia is the only gated community on this list, and the community features a gorgeous community park and pool; homes here start from 335K. All of the homes at the Enclave at Estancia come standard with top of the line features like stainless steel appliances, dual vanities in the master bathroom, and a home automation package. Additionally, the homes all have a TAEXX® Built-In Pest Control System. I had never even heard of this feature before visiting the Enclave at Estancia, but it’s essentially a pest control system of mini tubes that are built in to the walls of your home with an exterior receptacle for pest control service providers to deliver treatments in to the home.
There are a variety of different floorpans available at the Enclave at Estancia. However, one of the more unique offerings is the Giallo II home within a home floor plan. It’s essentially a 3 bedroom, 3 bath home with an attached guest suite with 1 bedroom, 1 bath a living room and a kitchenette. This ‘“guest suite” has its own access from the outside, but can also be accessed from the interior of the main home. It’s a great floorpan for families with have an elderly parent or parents with boomerang children. While the tax rate for homes in the Enclave at Estancia is 1.87%; please note homes in this community must also make annual payments towards the PID. Click here to view available homes in the Enclave at Estancia.
Would you like more information about other homes that are located in an area with a property tax rate under 2%? Contact me today to learn about other areas in Austin.
Sharing Austin real estate updates, home owner tips, & more.