TX Real Estate case studies
TX Real Estate · Put your knowledge to work in context.
The Texas Real Estate Sales Agent license is issued by the Texas Real Estate Commission (TREC), the state agency whose site covers real estate brokerage licensing, inspections, easement and right-of-way agents, education providers, and timeshare plans. The credential is for people who want to act for others in buying, selling, or leasing real property under a sponsoring broker. The TX Real Estate case studies are 5 cases and about 2,097 words.
1Intermediary Status When the Same Brokerage Represents Both Sides
Linda is the designated broker at Lone Star Realty and has an exclusive right-to-sell listing on 412 Mesquite Ln at 425,000. Her brokerage also represents buyer Marcus through agent Raj.
478 words, about 2 min2Option Period, Earnest Money, and Financing Deadlines
Buyer and seller sign a TREC One to Four Family Residential Contract for 312,000. The effective date is May 1.
440 words, about 2 min3Encumbrances, Deed Restrictions, and Homestead on a 10-Acre Tract
Seller owns 10 acres and wants to sell to Buyer. The title commitment shows: (1) a 20-foot utility easement along the front; (2) a deed restriction prohibiting commercial use; (3) a mechanic's lien filed by a contractor for 18,000 for a barn built last year; (4) an HOA assessment lien for 2,400; (5) current-year property taxes not yet due; and (6) a homestead designation.
402 words, about 2 min4Appraisal Gap, Loan-to-Value, and Cash to Close
Buyer contracts to purchase a home for 350,000. Buyer is preapproved for a conventional loan at 90% loan-to-value, 30-year fixed, with PMI required above 80% LTV.
374 words, about 2 min5Unlicensed Assistant, Advertising, and Trust Funds
Dana is a sales agent at Bright Realty. The assistant also emails a buyer client a repair amendment and writes, "Sign here; this protects you." The assistant receives a $3,000 earnest money check from the buyer and deposits it into Dana's personal account "to hold it for a few days." Dana's yard signs say "Dana Homes" without the brokerage name.
403 words, about 2 min