Living Lake Livingston!

head_left_image

What is this Property Affidavit that the buyer is requesting?


What is The Property Affidavit That the Buyer is Requesting?


The property affidavit addresses any permanent changes made to the property, or to adjoining properties that encroach on the subject property - OR - confirms that no changes have been made. With a property affidavit the title company and/or lender can decide whether or not to accept the existing survey.


T-47 Residential Real Property Affidavit



In the Texas Real Estate Commission's One to Four Family Residential Contract, Paragraph 6 deals with Title Policies and Surveys.


6C: Instructs the escrow officer who to charge for the survey if applicable.  


 


SELLERS BEWARE: If 6C(1)
is marked and you do not provide the survey AND a notarized T-47 Residential Real Property Affidavit, the buyer can obtain a new survey at YOUR expense.  Make sure that you can put your hand on the copy of the survey, and that you can get a notarized T-47 within the time frame requested, before you agree to this!


 

Another item of note at 6C(1) is who is responsible for payment of a new survey should the title company or lender not accept the one provided with the affidavit.


 

6C(2) If marked, states that the buyer will pay for a new survey within a specified amount of time.


 

6C(3) If marked, states that the seller will pay for a new survey within a specified amount of time.


So... to reiterate, the property affidavit addresses any permanent changes made to the property, or to adjoining properties that encroach on the subject property - OR - confirms that no changes have been made.


 

What is The Property Affidavit That the Buyer is Requesting?


This has been brought to you by Joni Bailey, YOUR Huntsville / Lake Livingston Area real estate professional. Before you buy or sell, call Joni Bailey at (936) 650-9017. I look forward to earning your business and exceeding your expectations. 

 

 

TEXAS REAL ESTATE COMMISSION CONSUMER PROTECTION NOTICE

TEXAS REAL ESTATE COMMISSION INFORMATION ABOUT BROKERAGE SERVICES

 

Copyright (C) Joni Bailey     (936) 650-9017  

 

Licensed in the state of Texas (0518539)                         

 

  LivingLakeLivingston@gmail.com

 

      

Comment balloon 25 commentsJoni Bailey • June 04 2012 03:01PM

Comments

Great explanation of the property affidavit and great advice to the seller and buyer's to make sure they understand what they are signing.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) almost 7 years ago

Good information for buyers and sellers.

Have an outstanding week.

Posted by Roy Kelley (Realty Group Referrals) almost 7 years ago

I concur...very informative explanation on property affidavit. You covered the info for both the sellers and buyers. All your clients must know by now that you are definitely the expert in your field.

Posted by Les & Sarah Oswald, Broker, Realtor and Investor (Realty One Group) almost 7 years ago

Joni: Excellent job of explaining what a property affidavit is! 

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) almost 7 years ago

Hi Joni,  great information for your people to know about real estate.  Hope you are having a great day!

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) almost 7 years ago

Hi Joni,

I've sold 2 properties from the same listing agent and both times he failed to get me the T-47 for my buyer within the time frame and his seller bought my buyer a new survey!! Never ceases to amaze me..lack of organizational skills!!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) almost 7 years ago

I had not heard of this.  Interesting.. We don't have anything like that in New Hampshire.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 7 years ago

Thank you, Pat!

Roy: Thank you for the lovely flowers! ☺

Thanks, Sarah! I appreciate your support! ♥

Anita: Thanks! They must be common. I wondered if other states had them when I was writing this.

Will: Just got home from VBS. It was a great day! Hope yours was as well!

Dorie: OH NO! Wow. I bet the seller's were not very happy about that. Yikes!

Joan: I wondered if other states had these. It's always interesting to hear what other states do.

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (101 Main St. Realty) almost 7 years ago

I've never heard of this at all. A little confusing but I could deal with it.

Posted by Robert L. Brown, Grand Rapids Real Estate Bellabay Realty, West Mic (www.mrbrownsellsgr.com) almost 7 years ago

Joni, great information for home buyers and sellers in Texas and most states which require a survey.  

Posted by Juli Vosmik, Scottsdale/Cave Creek, AZ real estate 480-710-0739 (Dominion Fine Properties) almost 7 years ago

I never heard of this either. If we are supposed to be using them in CA I haven't been!! LOL ! Interesting how states differ. Thanks for your post today, Joni!

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) almost 7 years ago

Joni - Excellent explanation.   If the seller's Realtor isn't on the ball, the seller will probably end up buying a survey.

Posted by Pam Miller, Broker Associate - Pearland/Friendswood (Realty Associates) almost 7 years ago

Robert: Michigan must not have this. 

Juli: Do you have a form like this in Arizona?

Pamela: You would know it if you were supposed to be using it. Dorie's comment (#7) is how some agent's found about it when it first came out. OUCH!

Pam: To be fair to other agents, it could be the seller's fault as easily as the agent's. We had one that thought that they knew exactly where their survey was and then could not put their hands on it by the deadline. :(

So... this is a good practice to follow:  If a seller can not prvide the survey and sign the affidavit at the time that they execute the contract, I have them initital at paragraph 6 C 1 right by bold type explaining that they will have to furnish the buyer with a new survey. There is no doubt that they understand their responsibility.

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (101 Main St. Realty) almost 7 years ago
Joni - It's always interesting to see the different forms and rules in different places for real estate.
Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) almost 7 years ago

Joni, interesting disclosure from the great state of TX.  I always like to think of what caused this to become law...

Posted by Gary Frimann, CRS, GRI, REALTOR and Broker (Eagle Ridge Realty / Signature Homes & Estates) almost 7 years ago

Hi Joni, great explanation and shows the importance of having a knowledgeable, local agent familiar with these forms.

Posted by Sandy Acevedo, RE/MAX Masters, Inland Empire Homes for Sale (951-290-8588) almost 7 years ago

looks like the surveyors must have a great lobby in Texas, getting hired to survey the same property over and over due to a checkbox in the real estate forms.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities) almost 7 years ago

Another great tutorial by Joni!  Great post and feature Miss Joni!

Posted by Paula McDonald, Magnolia Realty ~ Granbury, TX 936-203-0279 (Magnolia Realty ~ Granbury) almost 7 years ago

Joni  Great tutorial explaining one of the important aspects of real estate in Texas

Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Executives) almost 7 years ago

Thanks for this information on another phase of the process that takes place in Texas, Joni.

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) almost 7 years ago

Joni,

Congrats on getting featured and you nailed the explantion perfectly. I can not tell you how many Realtors I have run into who have no idea what a T-47 form is and what it is used for!!

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) almost 7 years ago

Great details. Certainly a GOLD STAR winner! I recently had this question when the buyer was using our company for financing and they were buying a FSBO. This post would have been great to forward on. :-)

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 7 years ago

Joni:

I am happy that we in California do not have to provide this disclosure.  We have enough as it is.  Thanks for explaining the document.

Posted by Evelyn Kennedy, Alameda, Real Estate, Alameda, CA (Alain Pinel Realtors) almost 7 years ago

Christine: I agree, it is interesting. Some things I would like to adopt, and some I am glad we do not have. HA!

Gary: It is not law. The affidavit is only requried  if  box 6 C (1) is marked on the contract. 

Thank you, Sandy!

Bob: The box does not have to be checked. It is simply an option. Actually, the whole point of the affidavit is to try to be able to use an existing survey and not have to order a new one.

Paula and Karen: Thank you!

Barbara-Jo: You're welcome! ☺

Bob: That happens to us a lot too!

John: Thank you! Forward it any time! :)

Evelyn: This is not a requirement. It is only required if box 6 C (1) is marked and the hope is to be able to use an existing survey and not have to order a new one.... Saving both time and money.

 

 

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (101 Main St. Realty) almost 7 years ago

I have been involved in several transactions where surveys uncovered critical encroachments or violations of minimum setbacks. In new construction, a survey is especially important. The boundaries of undeveloped lots are often unmarked and buyers sometimes end up with a much smaller lot than expected. I would press the builder to provide a staked survey.

Posted by Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) almost 2 years ago

This blog does not allow anonymous comments