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Dallas Income Properties.com is the website of JP Lumbley & Associates, LLC.   You will find that we use DallasIncomeProperties.com and JP Lumbley & Associates, LLC interchangeably.  The licensed Texas Real Estate Broker is Joe Lumbley, licensed as a Texas real estate broker since 1981, license number #0275796. 

As a potential buyer or seller of properties, you need to be familiar with the following information about brokerage services.  It will also be attached to any property brochures and and contracts submitted.

It is required that your broker provide you with the following information:

 

 

THIS FIRM IS LICENSED AND REGULATED BY THE TEXAS REAL ESTATE COMMISSION (TREC).  TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY JUDGMENTS AGAINST INSPECTORS AND REAL ESTATE LICENSEES INVOLVING A VIOLATION OF THE LAW.

COMPLAINTS OR INQUIRIES SHOULD BE DIRECTED TO:

TEXAS REAL ESTATE COMMISSION

P.O. BOX 12188

AUSTIN, TEXAS 78711-2188

(512) 465-3960

 

 

 

Information About  Brokerage Services

 

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 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 interests of the buyer first. The owner should not tell a 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 AN 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 Texas 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 associated 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.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

Texas Real Estate Commission:  Form OP-K

Equal Housing Opportunity

 

All information herein has been secured from sources we believe to be reliable but we make no warranties, express or implied, as to the accuracy of the information.

References to square footage, age, condition, and financials of the property are approximate and have not been verified by Broker.  All principals and other brokers must personally verify all information herein and must exercise due diligence in this research.

Buyers and other brokers must bear all responsibilities and liabilities for verifying and acting upon all information contained herein.  All descriptive terms contained herein are subjective and represent only the opinion of the Broker, Joseph Lumbley.  Buyers are hereby notified that in all properties built before 1978, there is the possibility of lead-based paint contamination on the property, and Buyers are hereby advised to have the properties fully inspected by their own inspectors prior to finalizing a purchase.

NON-DISCLOSURE AGREEMENT

You agree to respect the confidentiality of the information which is being presented about real estate for sale.  You agree not to disturb property management or tenants and to visit only in the company of the Listing Broker.  You agree to hold all such information as confidential in nature and agree to disclose it only to parties directly necessary to make your transaction come to fruition. You agree to explain these non-disclosure restrictions to any such parties to whom you reveal this information and to disclose this information only to parties who accept the terms of this non-disclosure agreement.

These are EXCLUSIVE RIGHT TO SELL LISTINGS.  As exclusive agent, it is my responsibility to safeguard my clients' confidentiality and to avoid situations which may be detrimental to my clients' business operations.  I take this responsibility VERY seriously.  The Internet addresses of all parties who view these listings and who have agreed to this non-disclosure agreement are archived indefinitely.

 

 

 

 
         
 
   
   

 

 

 

 

 

 


 

 

 
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