The Texas Real Estate Commission is part of the Anti-Consumer movement operated by the State of Texas. Texas is an Anti-Consumer state meaning that the current power structure greatly favors business over consumers. Or, as George W. would say, "Bidness" over Consumers.
The Texas Real Estate Commission has now abandoned any semblance of fairness to consumers in the most recent change in its "One to Four Family Residential Contract" of the standard Earnest Money Contract used by almost every home buyer in Texas.
This most recent change is found in Paragraph 7 of this form:
? (1) Buyer accepts the Property As Is.
? (2) Buyer accepts the Property As Is provided Seller, at Seller’s expense, shall complete the
following specific repairs and treatments:
(Do not insert general phrases, such as “subject to inspections” that do not identify
specific repairs and treatments.)
This is what is known as boilerplate contract language, meaning that nobody is actually negotiating over it and that pretty much everybody is ignoring it. As a lone wolf howling at the moon here, it is not innocuous. Even if every single real estate agent in the state of Texas has accepted this change with not even as much as a nod to this dramatic change, I will still point out that legally, the defense attorneys hired by the real estate firms and agents, will file Motions for Summary Judgment against home buyers when those home buyers discover problems that were not disclosed. Judges will see these words and summarily grant these judgments against those home owners and their cases will be over. Finished. And that is exactly what TREC and the members on the Lawyer/Broker committee want.
They want you, the home buyer to have that all inclusive feel good moment at the point of purchase and they then want their own feel good moment later on in case you find out somebody did not tell you all you needed to know when you bought that house. At that point they will go straight to this innocuous little section of the contract and tell you that if you do come after them, you better go read Paragraph 17:
17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who
prevails in any legal proceeding related to this contract is entitled to recover reasonable
attorney’s fees and all costs of such proceeding.
Which is just as misused and abused by the Real Estate Defense bar as paragraph 7, but they will scare a lot of legitimate complaints and lawsuits away with this threat.
And that, Mr. Texas Consumer, is why Texas is an anti consumer state.