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.
This agent is nothing short of spectacular!! Me and my wife first met Jill on the sale of our first... read moreThis agent is nothing short of spectacular!! Me and my wife first met Jill on the sale of our first house. She was completely involved in all the details and aspects of the sale, from proper presentation to market analysis. Her patience and ability to explain the complex issues and simplfy them were a great help to us in understanding the process as a whole and thus relieving much of the stress and worry that comes with such a sale.
Her meticulous attention to detail in not only the home itself but also its web presence directly led to the immediate sale of our home in the first week it was listed.
I highly recommend Jill Wente. She is the agent we are all always looking for!!! read less