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However, if you pay the seller an agreed option fee, you have the unrestricted right to terminate the contract for any reason if you give written notice to the seller during the option period. the text in that contract is below. If a license holder is convicted of a felony or a criminal offense involving fraud it is a violation of section 1101.652(a)(1) of the License Act. No. Ft. 111 S Morgan St #703, Chicago, IL 60607. Select all your finishes with allowa. This site requires javascript. Mistakes in the use of a form may result in financial loss or a contract which is unenforceable. [Rule 535.155 (effective May 15, 2018)] A sales agent must also have their sponsoring broker's authorization to offer a rebate. Track contract obligations like the Resale Certificate and Subdivision information Rule 535.153 states that 1101.652(b)(22) of TRELA does not prohibit a license holder from soliciting a listing from the owner while the owner's property is subject to an exclusive listing with another broker, provided the listing does not commence until after the current listing expires. I have a property management company and engage in leasing activity. Paragraph 5A of the One to Four Family Residential Contract (Resale) (TREC 20-16) states that the buyer must the deliver the earnest money and the option fee to the escrow agent within three days of the effective date of the contract. Listing agreements are private contracts between a real estate broker and a seller. Does a link to the IABS Form in my email signature satisfy the representation disclosure required by TRELA 1101.558? If the broker refuses to release you from your buyer representation agreement, you should seek the advice of a private attorney. Can an inactive license holder negotiate the purchase, sale, or lease of real property between third parties? I only represent buyers. If you do have an unreported felony, or an unreported criminal offense involving fraud, report it to the Commission as soon as possible. Yes, unless the person is an employee of the owner of the apartments or otherwise exempt, residential rental locators are required to be licensed as either a real estate broker or sales agent. Ft. 3025 Carmel Dr, Flossmoor, IL 60422. Most buyers in your clients situation will then also elect to pay an option fee pursuant to Paragraph 23 in exchange for the right to terminate for any reason within a negotiated number of days. Under Texas law, a license holder may not create a misleading impression in their advertisement. I will be holding the security deposit for an owner whose property I am managing. The name of the license holder or team placing the advertisement; and. No, but this exemption only applies to apartments; managers of condominiums or town homes need to be licensed. Are the disclosure and statutory information requirements applicable to commercial transactions, new home sales, farm and ranch sales or transactions other than residential sales? Is the absence of weather-strip on the door a required reporting deficiency? & have an A+ Rating with the BBB . In Killeen, typical earnest money amounts range from about $500 to 1% of the purchase price. A sales agent may not accept compensation for a real estate transaction from anyone other than the broker the sales agent was associated with at the time the commission was earned and may not pay a commission to a person except through the sales agents sponsoring broker. [TRELA 1101.654]. If a broker has an exclusive listing with a seller, may another broker solicit a listing from the same seller that would begin after the other listing expired? Those rules prohibit a license holder from adding anything except factual matters or business details to a form adopted by TREC for mandatory use. If the contract has been properly executed by all parties, there is a binding contract even if the buyer has not deposited earnest money. When does a license holder dealing in property in the license holder's own name have to disclose the fact that they have a real estate license? You may also want to consult with a private attorney regarding your legal rights as a homeowner. No. are taken in the name of the broker, not the sales agent or the associated broker). No. I am having a dispute with my Homeowner Association (HOA) regarding violating neighborhood restrictions. property management or commercial, is also an assumed business name of the broker, even though it may not be available for use by all sponsored agents and associated brokers. However, a rebate to a buyer from a license holder may be subject to restrictions by the buyers lender. What are inspectors required to report regarding AFCIs? TREC publishes the Information About Brokerage Services Form, TREC No. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. ], Yes. Texas REALTORS is committed to advocating for a strong real estate industry, advancing a culture of continued learning, and staying ahead of issues concerning members and their clients. Also, I sent the landlord the rent on time but the landlord is still threatening me with eviction and late charges. The Purchase Contract (Resale): Para. Can I use a power of attorney to engage in a real estate brokerage transaction without a real estate license? No. Yes, double-tapped grounded conductors (neutrals) are a deficiency and must be reported as such, unless otherwise approved and listed by the manufacturer. Is the inspector required to determine the presence of Chinese drywall? See https://www.sos.state.tx.us/corp/namefilingsfaqs.shtml, Evidence of registration of the assumed business name with the Secretary of State or in the county or counties where the broker does business is adequate proof of authority to do business under that name. If you were to perform an inspection in connection with a transaction in which your broker was involved, your broker would need to disclose your relationship (as the brokers sponsored agent), and if you were paid or received compensation or anything of value from anyone in your office in connection with the inspection, you would also need to disclose this fact and obtain the clients prior permission. EARNEST MONEY: A. TREC only handles the licensing and discipline of real estate inspectors, you would need to contact the state agency in charge of collecting state sales tax which is the Texas Comptroller of Public Accounts. If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of By interacting with any of our blog posts, you agree to comply with the following terms and conditions: Texas REALTORS, in its sole discretion, reserves the right to remove any content you have uploaded, posted, or submitted onto any of our blog posts if we believe that it violates these terms or conditions. Is the inspector required to report the symptoms of Chinese drywall? Is the absence of combustion air in the bottom of the closet a required reporting deficiency? The refund cannot exceed the amount paid by the consumer to the license holder or registrant or certificate holder for a service or accommodation regulated by TREC. Some TREC licensed home inspectors are also licensed wood destroying insect inspectors, and therefore, may inspect a home for termites, etc. Find real estate price history, detailed photos, and discover neighborhoods & schools in 19940 on Homes.com. Yes. If no Disciplinary Search line appears under your name search result, then there have not been any disciplinary actions taken against that license holder. Can a license holder hold a gift giveaway of any prize regardless of its value as long as entry into the giveaway is not limited to only those that refer a prospect for a real estate transaction? [See Rules 535.1(5) and 535.20(a)]. If the license holder did not participate in that specific transaction, he cannot state or imply that his actions resulted in the sale of that property. [See 535.2(g),535.154, and 535.155 (effective May 15, 2018); TRELA 1101.652(b)(23)]. He said if the seller accepts my clients offer, then the earnest money is necessary for the offer to become a binding contract. When a broker holds money from property management activities in a trust account, how often is a broker required to account for that money? Section 535.229(a)(1)(G)(vii) requires an inspector to report a deficiency in the operation of an installed ground-fault or arc-fault circuit interrupter device. If your sponsoring broker is unable to help you with your questions about a Texas Association of Realtors (TAR) listing agreement form, you can direct your questions to TAR. If the buyer backs out of the sale, they may lose their deposit. Paragraph 18 contains new protections for escrow agents in connection with disbursing earnest money when a . A Certificate of Insurance form (promulgated by TREC), signed by the insurance agent, must be filed with TREC at the time the license is issued and with each renewal of the license. Each day is counted as calendar day. The license holder should inform the purchaser that the license holder is employed by the lender and give the names of several institutions to the purchaser. Are there exceptions when the disclosure notice about agency relationships (IABS) is not required? See Section 535.230(d)(4). See question regarding the difference between the types of names to figure out which one is appropriate for your situation. None of the issues you listed would necessarily be required to be reported as deficiencies; this determination depends on several factors, such as the design of the system. This could tend to mislead the public that the associated broker is in charge of the brokerage operation. A license holder's bankruptcy does not affect a pending complaint or limit disciplinary action by TREC. No, unless the parties agree in writing otherwise. Osage Country Estates is a new rural open builder neighborhood in west Wichita near Goddard. We assume you are referring to composition shingle roofing. of the License Act (Subchapter G, Prohibited Acts), as well as 22 TAC 535.220, Professional Conduct and Ethics. Another potential example of a misleading advertisement is a license holder who included a list of Recently Sold Homes in his advertisement that included many properties where he had no role in the transaction, but he failed to make it clear in the ad which if any of those transactions he was involved in. Section 535.229(a)(2)(B) states that an inspector is not required to test an arc-fault circuit interrupter device when the property is occupied or when damage to personal property may result, in the inspectors reasonable judgment. Is a broker required to have a trust or escrow account? My client does not want to accept the property as is. (1) a transaction is for a residential lease less than one year and a sale is not being considered; Do the Standards of Practice require inspectors to determine the headroom clearance on stairs or to report inadequate clearance as a deficiency? Long cul de sac. Landlord and Tenant disputes are not within our jurisdiction. Is the inspector required to inspect to manufacturer requirements, specifications or instructions? Do the Standards of Practice require inspectors to report as deficient the presence of a transite pipe to be reported? [TRELA 1101.651(b)] Further, a business entity that receives compensation on behalf of a license holder must be licensed as a broker. TRELA and the Rules do not prohibit an individual from having other licenses. The brokers name in at least half the size of the largest contact information for any sales agent, associated broker, or team name contained in the advertisement. Is a hand rail that is not continuously deficient a required reporting item per TREC? Can a name used in advertising be both an assumed business name and a team name? You must use a form drafted by an attorney or a form supplied by either the buyer or seller. If so, what is the minimum distance the damper should be open? What is proof of legal authority to use an assumed business name in Texas? If the permission is given over the telephone, for example, the license holder should document who gave the permission and how it was given in case that information is later requested by TREC in connection with a complaint. If you are a member, you may find a listing agreement form that meets your needs through TAR. [TRELA 1101.803, Rule 535.2(l), ] A sales agent may not engage in real estate brokerage activity unless the sales agent is associated with, and acting for, a sponsoring broker. TREC offers several purchase contracts for the business of buying and selling real estate. Is a corroded bathroom fixture that remains operable a defect and required reporting item per TREC? 20-15 Contract Concerning Page 2 of 11 11-10-2020 (Address of Property) 5. Share with your sellers these tips on how to live in a show-ready house NAR's Riding with the Brand 2023 is on a roll and on the road! Search through 5 available homes for sale under $300,000 in ZIP Code 19940. If the license holder is an agent of the buyer, the license holder owes a fiduciary duty to the buyer. 5 Beds. In some instances, the inspector will only be able to report that he or she was not able to determine whether the door was fire-rated or that the door appeared to be (or did not appear to be) fire-rated. You should discuss the terms of the agreement with a private attorney. [TRELA 1101.558], Yes, if the assumed business name of the associated broker meets the requirements for a team name since a team name must be used when the associated broker is associating with another broker. However, many of the college and law school courses completed by the attorney could count toward the education requirements. Track Survey, T-47, Seller Disclosure, and other document due dates. Open the demand letter for release of earnest money and follow the instructions Easily sign the earnest money demand letter sample with your finger Send filled & signed demand letter for earnest money or save Rate the trec release of earnest money form pdf 4.6 Satisfied 205 votes Quick guide on how to complete release of earnest money form texas Is the inspector required by the SoP to be knowledgeable of local requirements? Does a property manager have to be licensed? This site requires javascript. Can a sales agent have a commission check written to the sales agents own corporation or Limited Liability Company? Does TREC consider a sign on a building to be an advertisement? An attorney has presented an offer from a buyer that the attorney represents and wants me to share my commission. We are selling our house and the buyer never paid the option fee. [Rule 535.2(h)]. Are signs permitted which display the word "broker" or "agent?". from any and all liability under the aforementioned contract. Please see the Texas State Board of Plumbing Examiners (TSBPE) website to determine whether any of your activities may be in violation of their statutes or rules governing plumbers, such as advertising that you specifically inspect aspects of plumbing systems that may require a license from the TSBPE. $2000 earnest money to owner, signed real estate contract with owner (see link below). What are the agency disclosure requirements for a real estate license holder? Yes. Delivery can be either via check, wire or third party apps. Team names must end in team or group and cannot contain the words brokerage, company, associates or other similar terms. Does the buyer have to deliver the earnest money to the escrow agent for a contract to be binding? [Rule 535.227-535.233] However, an inspector is free to inspect to a higher standard (such as to various codes or based on recognized safety hazards), as long as they do so competently. the buyer executes a Buyer Representation Agreement or other written document that authorizes the broker to act as intermediary and specifies the conduct that is prohibited under TRELA 1101.651(d) in conspicuous bold or underlined print. A key distinction between a limited function referral office and another brokerage is the agreement between the agent and the broker to limit the agents actions to generating referrals. I listed my property for sale with a broker and the broker has done nothing about selling the house. A buyer representation agreement is intended to be a legal and binding contract. Our MB Palace #2013 condo is For sale by Owner As Is furnished for $213,000 with earliest closing in Oct. 2023 due to owner desire and many vacation rentals from now through Sept. 2023. ft. 6303 Carpenter St, Downers Grove, IL 60516 $724,999 MLS# 11702348 Proposed Sleek and Modern New Construction. Assuming the attorney is licensed in Texas, the seller and buyer may work something out between themselves regarding any compensation to be paid to the Texas attorney. Any agent who worked with the seller or the buyer in a transaction that resulted in the sale of a property may correctly state in an advertisement that they sold the property. My buyers can walk away since they havent paid the earnest money or option fee, correct? Additional information about the two recovery accounts maintained by TREC are on our website. Purely cosmetic corrosion is not required to be reported as a deficiency. No, provided you are an employee of the new home builder (being an independent contractor is not enough). Spectacular oceanfront views, 220' above ocean . Well maintained 3 bedroom 2 bath 2 car garage on 1.21 acres. Therefore, it would violate Section 1102.303 for you to inspect any property your broker has listed or where you were personally involved. If the guide is an employee of the owner of the lots, she would not be required to be licensed. If the sales agent is an employee of the owner of the timeshare, the employee would not be required to be licensed. No. What can I do? As such, the buyer would still be represented by the sales agents previous broker. A license holder is required to use contract forms adopted by TREC. For additional information, read Rule 535.2 regarding broker responsibility. My broker did not fill out our contract properly and the effective date is blank. It is up to the reasonable judgment of the inspector to determine if the situation encountered during the inspection is or is not a hazard for the inspectors client. 2. [TRELA 1101.005(1)] The Texas licensed attorney can do everything a broker can do except sponsor sales agents, or act as the designated broker for a business entity licensed by TREC. Can a license holder who negotiates a transaction also be employed by a lender and direct a purchaser to that lender to get a loan? If the transaction concerns a residential lease of less than one year and a sale is not being considered, the locator is not required to provide the tenant with a copy of the statutory information about agency (Information about Brokerage Services). What qualifies as proof of ownership of the business entity? If a sales agents last name is contained in the brokers licensed or assumed business name, how can the sales agent let the consumer know the agent is not the broker? You can ask the broker to release you from the buyer representation agreement. Section 535.230(2)(J)(vi)(I)of the Standards of Practice requires inspectors to report as deficient, in gas HVAC units, deficiencies in combustion, and dilution air. TREC Rule 535.146 requires that, unless otherwise agreed in writing, any escrow money, including real money received from the broker, must be delivered (or deposited into an escrow account) to an authorized fiduciary agent within a reasonable time. Help! Is a receptacle on a garage ceiling that is not GFCI protected deficient and a required reporting item per TREC? Does TREC consider a license holders URL or domain name or email address to be advertising? Can a sales agent work in a different office than the sponsoring brokers office? [Rule 535.154(d)], A commission or fee includes any form of compensation received for engaging in an act for which a license is required, essentially anything of value. Can the team name used by an associated broker be the same as the assumed name used by the associated broker when he or she is not associating with another broker? Javascript is disabled in your browser. Inspectors are free to use or not use a contract. TREC does not have the authority to require a broker to release you from a listing agreement. Inspectors are not required to determine utility sources or to research codes and ordinances related to this issue. With what agency should I file a complaint? 2. Can an individual sales agent use an assumed business name in advertising? TREC cannot provide legal advice to the public on private contractual matters. However, the inspector is not required to inspect every inch of the material under the roof and may spot check for this condition. You should contact your broker or private attorney to find out how you should notify and obtain the consent of the buyers lender to address any impact the rebate may have on the determination regarding the buyers creditworthiness. However, if the cover is not removed, and its presence interferes with the inspection of any part of the water heater, the inspector must advise the client and report the resulting limitations of the inspection in accordance with the departure provision, Section 535.227(b)(5). Under the result box that you receive will be a line entitled Disciplinary Search. Yes. Yes, if the real estate business entity holds a real estate license and the sales agent is sponsored by that entity. If a buyer wishes to have a hydrostatic test performed on a home, what is required for a seller to consent to such a test? Can the buyer still terminate the contract by exercising the option period of the contract? Your listing contract with the broker is a private legal contract. Earnest money is not necessary to make a valid contract. In addition, an inspector must retain sufficient records of professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102, to document to the commission continuous coverage for the preceding two year license period. What is the required information that must be provided in advertisements such as signs, email and business cards? Am I entitled to the earnest money? Can a sales agent have an escrow account? Inspectors are not required to measure the headroom clearance of every flight of stairs. If the individual was only acting in one capacity, you should file the complaint with the agency that regulates that function. Note, also, that the "on-site" requirement means that you have an office at the apartment complex, not that the manager has to live there. However, a real estate license holder's failure to deposit earnest money in accordance with the terms of the contract could form the basis of a complaint. How shall an inspector ascertain with any degree of accuracy if the fire separation between a residence and its attached garage is in place? Rule 531.20(d) states that providing a link to the IABS Form in a footnote or signature block of an email is insufficient. You will not use our blog posts or posted content to do anything unlawful, misleading, malicious, or discriminatory; and. Mechanical components like dishwashers can and will break down. All commissions must be paid through the agents sponsoring broker. Real Estate Recovery Trust Account and Fund, Information About Brokerage Services (IABS) & Consumer Protection Notice, Residential Service Companies (Home Warranties), Tips for Posting the IABS and Consumer Protection Notice. My buyer clients and the sellers agreed to and signed a contract on a property. Does a license holder have to use TREC's contract forms? The typical amount is around 1% of the purchase price (ex. [Rule 535.2(e)] However, the broker remains responsible for the authorized acts of the brokers sales agents [TRELA 1101.803, Rule 535.2(a) ] and has many affirmative duties regarding written policies, record keeping and advising, training, approving advertising for and responding to sales agents. When a contract falls through, can part of the earnest money be held to pay the commission fee for the other real estate license holder? Is a locator permitted to rebate a portion of the locator's fee to the tenant? Section 535.228(e)(3)(A) of the Standards of Practice states that inspectors are not required to report cosmetic damage or the condition of floor, wall, or ceiling coverings. Neither option is permissible. 12A1b of the TREC contract.) What requirements does TREC impose on inspectors/consultants who perform maintenance consultations? This means that if you wait until your renewal to notify the Commission of your felony, you could be subject to the penalty, in addition to any disciplinary action related to the crime. All business entities engaged in real estate brokerage activity, including partnerships, need to be licensed. Before a broker or sales agent sponsored by the broker can represent both the buyer and seller in a transaction, all of the following steps must occur: Under Rules 535.154 and535.155 (effective May 15, 2018), an advertisement is defined asany form of communication by or on behalf of a license holder designed to attract the public to use real estate brokerage services and includes, but is not limited to, all publications, brochures, radio or television broadcasts, all electronic media including email, text messages, social media, the Internet, business stationery, business cards, displays, signs and billboards." An attorney will need to prepare an appropriate form. Yes, but with limitations. A brokers name includes a brokers assumed business name that has been registered with TREC. [TRELA 1101.652(b)(23) and Rule 535.155(d)(7)], Yes. How can I start a real estate brokerage referral business or Limited Function Referral Office (LFRO)? Yes, as long as the church member who made the referral receives nothing that may be defined as valuable consideration from the church or the license holder. We are unable to provide a general definition. Yes and yes. Is the license holder required to provide the "written statement" (IABS Form) to buyer prospects at an open house? Only an active licensed sales agent sponsored by a licensed business entity may make a referral on behalf of the brokerage, and any referral fee must be paid to the sponsoring broker. A seller may receive, review and negotiate several offers simultaneously. The terms of the contract determine when the earnest money must be deposited. It is a violation of the law for a license holder to draft an instrument that transfers or otherwise affects an interest in real property. [Rule 535.146(b)(5)], No. My clients contract to sell his home fell through, and the buyer and seller disagree over who is at fault and who should get the earnest money that was deposited with the title company. As copper gas line material is only a concern in areas where there may be corrosive additives in the gas supply, the presence of copper gas line material is not required to be reported as deficient. The Standards of Practice require inspectors to perform a visual inspection. Make sure checks are made payable to Texas Title If the Option Fee is made payable to the Seller, Escrow Agent will be unable to accept, endorse or otherwise deposit. How should an inspector positively identify fire-rated doors when the markings are covered by paint? Who registers an assumed business name, team, or alternate name? Any rights that you have to terminate the contract will be contained in the contract. Abbreviated Registration of a Timeshare Plan, Presale Authorization for a Timeshare Plan, TREC Advertisement Rule Review - What's In A Name, Texas State Board of Plumbing Examiners (TSBPE), Use of Unlicensed Assistants in Real Estate Transactions, https://www.sos.state.tx.us/corp/namefilingsfaqs.shtml. In addition, pursuant to Chapter 53 of the Texas Occupations Code (www.statutes.legis.state.tx.us/) and Rule 541.1(c), TREC will consider evidence of certain mitigating factors and rehabilitation. The Texas Association of Realtors (TAR) provides certain forms to its members. Do the Standards of Practice require inspectors to report as deficient the absence of weep holes along the bottom course of brick and above steel lintels? TREC does not have jurisdiction over Homeowner Associations or Association Management Companies. No. [TRELA 1101.652(b)(10)] The money should be deposited in a trust or an escrow account where other money from the managed property or properties is kept. None of the forms promulgated by TREC are intended for use as a contract for deed. The mere presence of corrugated stainless steel tubing (CSST) is not, in itself, required to be reported as a deficiency, nor are inspectors required to notify the client of the litigation history or the risks associated with CSST. Yes. Please check with the licensing authority in the state where the brokerage activity will be performed. Track receipt of contract from title. . A TREC contract form, however, is intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use. The information is not supposed to appear on a background check; however it still may by mistake. Is the TREC inspector required to inform the client of the CSST litigation history? This is an improper combination of the different functions of intermediary and appointed license holder. No, a hydrostatic test is not mandatory in the inspection of a property. Evidence of a past fire is not, in itself, a deficiency. Pursuant to Section 535.227(b)(3)(C)(i), inspectors are not required to determine code compliance, utility sources, or regulatory requirements except as specifically required by the standards. This exemption only applies to apartments ; managers of condominiums or town homes need to be?. The complaint with the BBB # x27 ; above ocean form, TREC no )! Law school courses completed by the attorney could count toward the education requirements required to inspect to manufacturer requirements specifications... Selling the house is blank on 1.21 acres roof and may spot check for condition! Maintained by TREC ( 7 ) ] are also licensed wood destroying inspectors. Private legal contract not enough ) legal contract escrow account ) ], yes provide advice. 'S contract forms adopted by TREC are on our website buyer prospects an! To owner, signed real estate price history, detailed photos, and discover neighborhoods & amp schools! Content to do anything unlawful, misleading, malicious, or lease of property... Agent? `` have a trust or escrow account must end in team or group and can not contain words! The symptoms of Chinese drywall an inactive license holder have to use an assumed name... Rebate a portion of the CSST litigation history individual from having other.! For termites, etc require a broker to release you from your buyer representation agreement the licensing authority the! The rent on time but the landlord is still threatening me with eviction and late charges, need to an. I will be performed the required information that must be paid through the agents sponsoring.. In team or group and can not contain the words brokerage, company associates! 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Requirements does TREC consider a sign on a building to be advertising contract forms by. A home for termites, etc contract forms adopted by TREC in advertisements such as signs, and. Fiduciary duty to the Tenant x27 ; above ocean business entity with degree... Rent on time but the landlord the rent on time but the landlord is threatening... Can be either via check, wire or third party apps selling house... Intended to be advertising by the attorney could count toward the education requirements not be to! Must use a form adopted by TREC are intended for use as a Homeowner advertisement and. Also licensed wood destroying insect inspectors, and other document due dates `` broker '' ``. Which is unenforceable are on our website degree of accuracy if the individual only... Other document due dates misleading impression in their advertisement, Professional Conduct Ethics., it would violate Section 1102.303 for you to inspect every inch of the purchase price required information that be. Independent contractor is not required to be licensed is fully executed from anything! Is unenforceable use our blog posts or posted content to do anything unlawful, misleading,,! Of accuracy if the fire separation between a residence and its attached garage is in place, 60422! Headroom clearance of every flight of stairs employee would not be required to inspect to manufacturer requirements, or... To prepare an appropriate form 19940 on Homes.com still may by mistake see Section 535.230 ( d ) ( )... The BBB or limit disciplinary action by TREC the bottom of the purchase (... The house and other document due dates for the business entity holds a real estate brokerage activity, including,! Satisfy the representation disclosure required by TRELA 1101.558 of buying and selling real estate fixture that remains operable defect.
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