Hancock & McGill Real Estate Articles

These are articles we have written over the years which we believe remain relevant and may provide insight into various issues of consequence to our clients.

Asset Protection Basics Clients often have concerns about the liabilities associated with investment real estate ownership. And with good cause. There are occasionally some very large judgments against property owners. Read Full Article	No Written Agreement: No Intermediary Without proper documentation a broker cannot serve as an intermediary or allow the broker's agents to show the company’s listings to prospective buyers. Read Full Article
Buyer Agency While the act of representing buyers is very prevalent, there remains a substantial resistance -- among both the general public and brokers and agents -- to properly documenting the buyer agency relationship. Read Full Article	Seller Disclosure Issues What are the responsibilites of a broker when a seller receives a negative property inspection? Should it be retained? Must it be disclosed to potential buyers? Real Full Article.
Option Consideration What if no consideration is paid for the option to terminate under a Texas Real Estate Commission Contract? Does that mean there is no option period? Real Full Article	Temp. Possession Of Property Sometimes change of possession occurs before or after closing. Failure to properly document these short term tenancies increases the risks of all parties, Read Full Article
Seller Carried Second Liens This article focuses on transactions in which a seller of real estate is asked to carry a purchase money loan secured by a second lien against the property including wraparound loans. Real Full Article	"As Is" Or Is Is It Although the words "as is" may seem very simple, they can be very complicated. This article discusses the requirements for selling "as is". Real Full Article
A Seller Financing Primer Sellers must realize that when they sign a contract to sell a property and agree to provide seller financing, they are, in effect, signing two contracts: one to sell real estate and one to provide financing. Read Full Article	Contracts For Deed & Lease/Purchase Legislation passed in 2005 has essentially eliminated contracts for deed and leases with purchase options as a means of conveying an interest in owner occupied residential property. Read Full Article
Wrap Around Financing Basics Wraparound financing is secondary financing typically provided by a seller of property. The documentation is more complex than typical secondary financing. However, the concepts are not difficult to understand. Read Full Article.	Buying or Selling Rental Property Texas Real Estate Commission contracts do not address the many issues that may arise in buying and selling leased properties. This article will address some of those issues. Read Full Article
Who Selects the Title Company? Who has the right to select the title company? This is a perennial controversy which can raise emotions and create controversy early in the transaction especially when selling residential property .Real Full Article	The Basics of an LLC A limited liability company or LLC offers the flexibility and tax advantages of a partnership while providing the limited-liability benefits of a corporation. An LLC, like a corporation, is a separate legal entity which limits the personal liability of its owners. Read Full Article
Using Series LLC For Asset Protection Recent legislation, combined with protections historically available in Texas, make Texas one of the best locations in the U.S. for protecting assets from creditor claims. Read Full Article	Common Contract Mistakes Ten common mistakes made when completing a Texas Real Estate Commission contract. Real Full Article
Avoiding Liability for Business Debts Almost all businesses create business liabilities. Keeping those liabilities as the sole responsibility of the company and preventing them from becoming personal liabilities is a primary objection of a business owner. Real Full Article	Foreclosure Basics Texas has a non-judicial foreclosure procedure. As the name implies, a “non-judicial foreclosure” is conducted without the need for filing a lawsuit. That means it is a quick and relatively inexpensive process. Real Full Article