MARCH 2023
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OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®
IN THIS ISSUE:
Disclosures
• New Benefit for SABOR MLS
• Golfing Fore TREPAC!
Subscribers
• REALTOR® Day at the Capitol
• Disclosures • December Housing Market Statistics • Upcoming Board Events
New Benefit for SABOR REALTOR® Members with MLS Subscription All SABOR REALTOR® members who have an active MLS subscription now have access to the FOREWARN app. The FOREWARN app is a proactive safety resource that allows members to verify the identity of their business prospects. This is not only critical for personal safety, but it's also a benefit for sellers because it provides an added layer of protection for their homes and families. We are so excited to bring such an innovative solution that will help our members have safer
engagements and smarter interactions with consumers. If you already have a FOREWARN subscription, you will need to contact FOREWARN about cancellation.
Sometimes REALTORS® ask who must fill out the seller’s disclosures. They specifically ask the question, “do my investor clients/owners have to fill out the Seller’s Disclosure?” Some believe an investor client/owner does not have to fill out the disclosures because they have never lived on the property. This presumption is incorrect. Unless one of the other statutory exclusions applies, investor sellers must still fill out the Seller’s Disclosure. Section 5.008 of the Texas Property Code addresses the law regarding disclosures. It does not have an exclusion from this obligation for investor clients/ owners. As with many other sellers/ owners of the property, investor clients/owners are required to fill out the Seller’s Disclosures to the best of their knowledge and ability. If a seller does not have knowledge of the facts related to a particular disclosure, they can mark a question response or answer as unknown and still meet their disclosure requirements under the Texas Property Code.
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