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Old 01-02-2016, 04:55 PM
 
54 posts, read 33,888 times
Reputation: 19

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Hello friends,

Happy New Year to all of you. My partner and I are in the process of making an offer on a house with acreage in Houston, TX.

We are working with a realtor, however, the realtor has very limited knowledge about acreage transactions. Unfortunately, we already viewed the house through him, and is a friend from our community activities, so it is hard to let him go at this stage.

The situation is such:

1) We made an offer on a house with acreage, and the sellers representative is asking us to modify the clause to reflect:

"The standard printed exception as to discrepancies, conflicts, shortages in area or boundary
boundary lines, encroachments or protrusions, or overlapping improvements will be amended to read,
"shortages in area" at the expense of Buyer


In our initial offer, we had put this as an expense to the seller.

Can anyone help explain this to us, if we need to structure it as a professional consultation with you, that is ok too.

Thank you,
Mengembara
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Old 01-02-2016, 05:01 PM
Status: "October is the eighth month" (set 18 days ago)
 
Location: Just south of Denver since 1989
10,676 posts, read 28,486,584 times
Reputation: 6842
You are asking strangers all over the world a real estate question for a property in Texas?

The people you seek to give you the best answer available are called real estate attorneys, in Houston, Texas. It will cost you some money, but that's ok, it will be the right answer.
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Old 01-02-2016, 07:47 PM
 
Location: Phoenix, AZ area
2,931 posts, read 2,389,174 times
Reputation: 3357
Your lawyer/agent/escrow agent would have the answer you seek. Also google took me all of 3 seconds to find this avvo article though I couldn't be bothered to read through it for you.

Title Insurance: What
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Old 01-04-2016, 10:02 PM
 
Location: Collin County
92 posts, read 68,478 times
Reputation: 78
If you have a realtor that you are using and he can not explain it to you - schedule a meeting for him, you and his broker. Consult an attorney.
Ask your title company closer to explain it to you.
I recommend not signing the contract (initialing any changes) until you fully understand what you are agreeing to.
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Old 01-04-2016, 10:15 PM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
Absolutely, reading AZ Manager's link scared the heck out of me and I still don't fully understand what it means except you would be waivering rights to certain title claims, and that is never a good idea.
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Old 02-13-2018, 09:06 AM
 
1 posts, read 1,782 times
Reputation: 14
i stumbled on this by chance and decided to see if i can help. this answer is for texas, may or may not be the same elsewhere. but let's simplify! this section of the contract covers several different issues. 1st people move to the country and think they can do whatever they want, where ever they want on their property. this is not always the case. when you purchase land there is a boundary and easements, the survey identifies where these are. however, over time or error there becomes an issue and these can be moved or deleted. this coverage is just saying if this should happen to you your title company will assist in fixing the issue. i believe examples always clarify for people, so 2 sort of true stories, example 1.lets says you use an old survey, that missed showing an underground easement for the local water company. you decided it would be nice to have a sign at the front gate. you drill a hole and ops hit the main water line serving everyone for 15 miles down the road. geese who pays for that? that surveyor is long gone. example 2. you buy a ranch and want a pipe rail fence. it cost 10k dollars and is beautiful. the guy next door comes over and says you put it 3 feet off the property line, what survey did you go by and demands you move it. i am working on one now one survey say it is 4.45 acres the other says 4.442? and the fences don't match either! something is off...do you now see where this could become an issue.
i hope this was helpful. remember this is MY opinion, i am not an attorney, i do not give advice. but i do believe is sharing and helping each other. I look forward to someone helping me when i need it. and yes, brokers and title can help explain this clause more.
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