Wind Rights For Texas Properties

March 23, 2022 by chorton Leave a Comment

Texas has been a major producer of energy for many decades. But it’s not just oil that is fueling the production. The Wind Turbine State is what the Lone Star State might be called today.

You will see three-blade, gleaming wind turbines slowly turning as you drive through West Texas. This area was recognized as one of America’s best places to generate wind energy more than a decade ago. Landowners initially resisted installing wind turbines on their land. But then they discovered that they could earn thousands of dollars per month in royalties.

The mineral rights that a land sale would have provided were very important when the oil industry boomed. Wind rights in West Texas are a hot topic.

Here are the current Texas land rights classifications:

Mineral Estates This is a list of all resources below the surface that are available for development (oil, oil, etc. ).

Surface Estates All that is on the surface of any piece of property are part of the estate.

Soon, there will be a new category: wind estate.

What buyers need to know about wind rights.

There are many types of property rights so a single parcel of land can be owned by different people in different ways. There’s another way to divide land ownership with the addition of “wind-estate”.

Wait, a minute – isn’t a windturbine on the surface? Turbines don’t hover above the ground which complicates the issue of wind estates. Most people rely on the specifications of mineral rights as a guideline, since there aren’t any laws that specify wind rights.

Texas law provides that mineral rights owners can have access to the property in order to use the resources they own. Mineral rights owners can install pipelines on the property and store equipment. A key factor to remember is that the law provides that a tie in a dispute goes to the mineral rights owner.

Most real estate experts believe that wind rights laws will be similar to mineral rights as the state works towards creating them. This is something legislators have been dealing with since 2007. Some sellers have withheld wind rights from land sales because there is no formal legislation. The sellers simply add clauses to the sale contract that state the lucrative wind rights will not be transferred with the property.

Buyers who are interested in West Texas (and their agents), need to decide if wind rights will be granted as part of a sale. Pay special attention to the mineral rights section of the resale agreement. Many sellers have modified the language to say that wind rights don’t convey. A deed might also state that the seller retains wind rights above the property. However, it is possible for things to get more complicated if another person has mineral rights.

Buyers who do not know about wind rights clauses could end up in court fighting for sole or full use of the property. Our knowledgeable agents are here to help you with all your questions and help make the real estate process go smoothly.

Original article: https://www.aceableagent.com/blog/wind-rights-for-texas-properties-up-in-the-air/

Don’t Let Real Estate Myths Limit Your Search

March 18, 2022 by chorton Leave a Comment

Trustworthy people can give you sound advice when you make a big decision like a real estate deal. Even though your family and friends may not know all the answers, they might give you incorrect or outdated information. A trusted professional who is familiar with real estate matters every day. REALTORS(r), can help you dispel any myths that might limit your search, or unduly affect one of the most important financial choices you will ever make. These myths are important to be aware of.

Myth: A 20% down payment is required.

Reality: Although many buyers put down 20% or more in down payments, Texas homebuyers made a median 14% down payment in 2020, according the Profile of Texas Homebuyers and Sellers. The median down payment for first-time homebuyers was 6%. You may be eligible for many loans and programs to help you purchase a home, even if your down payment is less than 20%.

Myth: Credit is not enough.

Realism: Even with low credit scores, you may still be eligible for a loan. You can also improve your credit score in order to increase your chances of getting a loan.

Myth: Do not buy the most expensive or largest house in your neighborhood.

Reality: This myth implies that you might have trouble finding buyers when it comes to selling your home or that your property’s value will not rise in comparison to other properties in the area. This is an exaggeration. There are many factors that influence the value of a home. The house you choose should be a good fit for your lifestyle and needs.

Myth: It is necessary to time the market

Reality: Don’t wait for the price to drop before you buy a house. What happens if it doesn’t? It is a bad idea if you try to time your house purchase to avoid a sellers market or to join a buyers market. These market conditions might not be applicable to the neighborhood or house you are considering. It is best to buy only when it makes financial sense.

Do not rely on inaccurate information regarding your home. Our Agents at Preferred Properties of Texas can help you dispel any myths and make your real estate transaction smooth.

Original Post: https://www.texasrealestate.com/members/posts/buyers-dont-let-real-estate-myths-limit-your-search/

Access and Easement 101 for Texas Land Buyers

January 22, 2022 by chorton Leave a Comment

Access and Easement 101 for Texas Land Buyers

Mr. Mac and Mr. Cheese were neighbors and friends. Mr. Mac bought a piece of land adjacent to Mr. Cheese’s property. However, to get to his newly bought asset, Mr. Mac must pass through Mr. Cheese’s area. Being good neighbors and friends, they agreed verbally that Mac could pass through the property so that he could get to and from his lot. For years, he was able to use the property as a right of way. Unfortunately, Mr. Cheese died and his heirs sold the property that served as a right of way. The new owners did not honor the verbal agreement that existed between the friends. Mr. Mac lost access to his lot, and for whatever use the land was to him, he cannot continue until he is given easement by the new landowners.

Sounds familiar? This is the classic case of easement – the right of way, and the dilemma of verbal agreements in such circumstances.

What is Easement?

An easement is a legal ability to use someone else’s land to use for a specific purpose. Landlocked properties are usually the kind of land that needs easement, to gain access. In the story, Mr. Mac bought a landlocked property and needed permission from Mr. Cheese to access it. Mr. Cheese permitted Mac to enter and exit to his property. In most cases, the agreement/permission would be written and recorded at a county clerk’s office. However, an implied or verbal agreement was sufficient for them as can be seen in this story.

When the easement is documented and registered, it becomes an encumbrance or a claim on the land’s title.

Kinds of Easement Including Right of Way

Easement is the right given by a landowner to another person to use his land for a specific purpose. It is also specific whether it is for the whole use or only a certain portion. Here are the different kinds of easements:

IN GROSS is given to specific individuals or companies for a specified use, intent, or purpose. This kind of easement agreement is not transferable with the property when sold or transferred in other means. A new agreement must be drawn.
Appurtenant is the kind of easement attached to the land. Right of way is an appurtenant easement that is passed with the property when it is transferred or sold. When buying land with an adjacent landlocked property, make sure to check for an easement agreement, especially before undergoing land development such as building facilities or improvements such as permanent fencing.
Utility Easement is most commonly used by utility companies. They are given the right to use a specific part of the land for utility purposes such as electrical poles.
Prescriptive easement is the right to use land without the permission of the landowner. Permission is given to an individual, at a specific period or length and the use of the portion of land meets requirements. Different states have different rulings on prescriptive easement.
By Necessity gives someone the legal right to use a portion of a property as long as the need is considered valid. This is usually used for landlocked residential property with no access to a road except via another property.
Private Easement is an agreement between individuals or companies that allows the person or company to access, build or maintain a structure on a property.

Effects of Easement to Property and Owner

If the easement agreement of Mr. Mac and Mr. Cheese was documented and registered, it would affect the sale of the property and its new owner.

Effect on Property Values

Easement affects the value of a property. When a property with easement is for sale, the land value would include it. When a property owner is offered an easement agreement by a landlocked owner, a real estate appraiser would be called to appraise the value of the property or portion of it. The appraiser adjusts the value based on the rights and easement used that will affect the surrounding property where the portion of easement will be enforced. Residential lots’ value is not affected by easements in most cases, because these usually on edges of the land or for utility management only.

Problems Property Owners Encounter

Be informed that if you have a property with an easement agreement, you cannot make improvements or build within the area where easement is enforced. Any structure that blocks access will be torn down. To ensure you will not encounter problems and develop the surrounding property optimally, know the placements or where the specific areas are.

If you are a buyer, find out in advance if there are existing agreements with adjacent landlocked properties, the kind of easement, locations, and with whom. Registered agreements are usually considered public documents, so research through the local registry office.

You can also ask for the assistance of a real estate agency to help you gather documents. Real estate agents experienced with handling agricultural and industrial lands know where to look and how to gather this information.

Homes For Sale In Stephenville

July 11, 2021 by chorton Leave a Comment

Homes for sale in Stephenville are abundant. You have the option to buy new or used properties in this economically and culturally diverse city. With an abundance of homes for sale in Stephenville, it can be pretty confusing as to what type of house or home you want to buy or invest in. Before making your choice on which houses for sale in Stephenville to invest in, here are some tips on what you should look for in homes for sale in Stephenville:

A home with a home down payment of at least 20% is a good buy. This means that you can purchase a home with just a small home down payment. People who can afford to buy homes without a lot of money down usually prefer to buy a home with a home down payment because they can take advantage of lower interest rates. Also, if you plan on investing in real estate, a home with a home down payment is your best bet to have lower mortgage payments.

Another tip when buying a home in Stephenville is to consider buying real estate within the city limits. This is because there are many more opportunities to find houses for sale in Stephenville that are within the greater Sacramento area. However, you also must realize that there are more houses for sale in Stephenville that are outside of the city limits. And in the case of real estate investments, this can mean investing in a much smaller house.

Another tip when buying a home in Stephenville is to think about buying older homes. These houses usually appreciate faster than new homes do and you can get them at lower prices. Most people buy homes for sale in Stephenville that are older so that they can stay longer in the neighborhood or let them appreciate even more. You can also choose to buy a home under market value which will make your home cost you less money than what it is worth.

The real estate market in Stephenville has been extraordinarily strong over the past few years. There are many reasons for this including the increase of jobs, the increase in population, and the decline of home prices across the nation. If you are looking for a home in Stephenville for investment purposes, you should focus on homes that are under market value. These homes can still fetch a higher price when you sell them later.

In addition, there are some really great homes for sale in Stephenville. Also, if you are a person who likes the idea of living close to work, then consider looking at houses near the downtown area of Stephenville. These types of homes are less expensive than houses that are further away from the city center. Finally, homes for sale in Stephenville can be found in almost any price range.

Getting Your Land Surveyed Can Help With Selling Your Property

June 19, 2021 by chorton Leave a Comment

You think you understand the perimeters of your premises, but you truly don’t unless you have had somebody to survey it and provide you its precise dimensions. You will realize your property limits if it is fenced off, but that is not an exact calculation. In case you haven’t officially researched the house, then you certainly do not possess its precise dimensions.

It is always in the homeowner’s best interest to acquire the support of a professional surveyor, also called a professional land surveyor, to discover the specific limits of someone’s property. This procedure safeguards your pursuits in a number of ways, if it be a burglar contesting your own limitations, a characteristic coming under scrutiny or even once you would like to sell the house.

A property survey measures how big your premises and decides where the bounds are. It is a record that reveals all land lines, such as property, structures and characteristics like tree structure that you have. Sometimes, land surveying shows essential details like where underground utility lines set.

Surveys can help if you wish to demonstrate your premises visually for prospective buyers. But a questionnaire could also come in handy once you have to clear up problems you have with neighbors to the city.

Though you are not legally required to receive a home survey to sell your property, it is often a fantastic idea since you may show prospective buyers exactly where the property lies. Furthermore, home surveys, if you’ve got a fence line or not, simply add transparency to the house negotiation procedure. Therefore, it’s always in your very best interest to acquire the property surveyed.

When you purchase acreage, it is vital to have a questionnaire because fences may be eliminated by many feet toward your house, creating your house smaller than that which you originally purchased.

Using the land surveyed before you purchase it, you prevent problems like suits due to border disputes, a procedure which will be rather costly and lengthy.

Land surveying in the time of buy can conserve a vendor from getting into unfamiliar problems later on. By way of instance, a questionnaire will discover sinkholes, that are underground water stations which may lead to flood or perhaps collapse a house. Nearly a quarter of those homes sold in states including Florida, Texas, Missouri, Kentucky, Pennsylvania and Alabama are in danger of being damaged or ruined from sinkholes. A sinkhole developing in your premises is a huge problem which may be averted at the onset of a sale.

When you purchase or sell a part of property, the dimensions of this house is listed in the name and the name must concord with all the quantified property dimensions. Occasionally neighbors unintentionally plant a tree or construct over the home line or fencing, therefore a property poll will constantly confirm the real boundaries of their house.

Some nations have land polls as part of their public document, but others do not. You should first visit a Public Records Office to see whether there is a questionnaire on the house. When there is not one on the public document, you will have to do yourself by employing a property survey firm.

It is very important to understand a home completely before you market it. Detecting problems and analyzing your property’s borders will make the selling process a lot simpler. Look at relying on professionals that are capable of providing a precise survey.

Over Improving Your Home May Not Be A Good Thing

June 12, 2021 by chorton Leave a Comment

You love good things, the finer things in life, fine information and all of the conveniences that a home provides. You purchased your house and updated to a top of this line everything on your Kitchen, on your Baths, your home’s floor, your fittings, your window coverings, your landscaping and so much more. It is your house and your need the very best.

When you look around the area, your neighbor’s home appears paltry compared to yours. You enjoy being the cream of this crop, the King of the Castle, so to speak.

Now you are thinking you wish to sell your property. You have been looking at current home sales. You have noticed that the local house sales are coming in considerably lower than that which you believe your house is worth. You are confident that your house will sell for much more that what other homes are selling for as well as when compared to larger houses with more bedrooms. Why could these shut sale costs be far off, you wonder? Regrettably, you probably over enhanced your house for the area. As mentioned previously, you decided the very best of all, because you worked hard and you’ll be able to afford it, but doing this is not a fantastic thing, if you are worried about resale value. Over improving a house that is located inside a neighborhood in which your house is the Castle in the area, will probably disappoint you if the time comes to put up your home for sale, since it’s going to be exceedingly tough to recover your upgrade prices when none of those other houses had the high end updates, compared to your house. This may lead to losses, since most buyers won’t wish to pay over market worth simply to receive your house’s upgrades. They might take their cash and purchase at a place where similar attributes are more common. Then, when it is time for them to market their house, they will not be confronted with the possibility of declines because of being over improved to your area.

Give Preferred Properties of Texas a call. We will provide you with additional Real Estate tips.