The information contained herein is subject to errors, omissions, change of price, and other terms prior to sale or withdrawal without notice.  The owners or IncomeProperties.com, Inc., make no warranties, either expressed or implied as to the completeness or accuracy of any information contained herein.

IncomeProperties.com, Inc., is a licensed real estate broker, and unless otherwise agreed upon in writing, is a representative of the owners.

IncomeProperties.com, Inc., hereby advises buyers that prior to the closing of a real estate transaction to: (1) obtain an environmental survey of the property and (2) have an abstract of title covering the subject property examined by an attorney of buyer’s own selection or be furnished with or obtain a policy of title insurance.

IncomeProperties.com, Inc., is required by law to furnish all potential parties to a real estate transaction the following statement:

Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents.  If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker.  A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you.  A broker is obligated by law to treat you honestly.

“IF THE BROKER REPRESENTS THE OWNER”: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of a subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

“IF THE BROKER REPRESENTS THE BUYER”: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interest of the buyer first.  The owner should not tell the buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

“IF THE BROKER ACTS AS A INTERMEDIARY”: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1)       shall treat all parties honestly;

(2)       may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;

(3)       may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and

(4)       may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and association with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.