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Austin Texas Attorneys, Lawyers, Law Firms
Real Estate Law
Leases
Mortgage/Foreclosure
Titles
Sales Transaction
Broker Matters
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Austin, Texas Real Estate Attorneys
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Real
Estate Information
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Estate Attorney/Lawyer in Austin
Texas
Is a licensed attorney required to hold a real estate license
to act as a broker?
No. A licensed attorney is exempt from the licensure requirements
pursuant to Section 3( 1) of the Real Estate License Act. The
licensed attorney can do everything a broker can do except sponsor
salespersons or act as the designated officer for a corporation
or designated manager for a limited liability company. [Rule
535.31]
Can an attorney get a broker license without first being
licensed as a salesperson?
No. A licensed attorney will need to meet all the standard requirements,
including education, examination and experience, for issuance
of a real estate salesperson or broker license.
My wife and I signed an offer to buy a house over the
weekend. Now we have changed our minds and don't want to buy
the house after all. Can we get out of the deal?
If the seller has accepted your offer, you may have a binding
contract. There is no three-day or 72 hour cooling off period
for you to change your mind. You should consult with a private
attorney for additional information.
Does a lease for a term of longer than one year and
a contract for the sale of real estate need to be in writing
to be enforceable?
Yes, that is basically true under the Statute of Frauds. However,
this is a question that should be discussed further with your
own attorney for proper understanding.
I listed my property for sale with a broker and the
broker has done nothing about selling the house. Can I break
my contract and list with someone else?
Your listing contract with the broker was intended to be a legal
and binding contract. If the broker has not fulfilled the broker's
part of the agreement, i. e., advertising, holding open houses,
etc., then you may have grounds to terminate the contract but
you would need to contact a private attorney for help in making
that determination. You could also ask the broker to agree to
cancel or release the listing. If the broker agrees, then the
contract can be mutually rescinded.
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