The short answer is NO. Paragraph 4A(1) of the Texas residential real estate contract states: “If the property does not satisfy the lenders’ underwriting requirements for the loan(s), this contract will terminate and the earnest money will be refunded to buyer.”
If you are purchasing a Spring Texas house on the resale market, paragraph 4A(1) protects you from having to buy a home that doesn’t appraise. The same level of protection may or may not exist in the purchase of a new construction home. This is because new home builders use their own contracts as they are not required to use the Texas residential real estate contract.
Jill Wente was exactly the realtor I needed. She is professional, experienced and focused on the end goal. She... read moreJill Wente was exactly the realtor I needed. She is professional, experienced and focused on the end goal. She knew exactly what needed to be done at the house to get the most attention when we started showing. Jill offered knowledgeable advice and pinpointed an approach that got my home sold quickly and at a great price! read less