TechCrunch headline House-hunters can finally sell their dream home article Tech Crunch article Tech: House-shopping may be a great idea for many people, but in Texas it’s not so great.
The Texas House Shoppers Association says it found that about 30 percent of sales were contingent on the sale of a house, with many transactions ending up canceled.
In Texas, which is one of the states worst-hit by the drought, it’s a huge problem.
The association is calling for a statewide ban on the practice and says that if the practice continues to take place, the association will be able to find out more about the issue.
“We believe that a statewide moratorium would not only help consumers understand the potential risks associated with the practice, but would also be in the best interest of Texas residents,” the association says in its press release.
House-shops, which can only sell up to four units at a time, are typically operated by private parties, and can charge hefty fees for each sale.
In addition to the potential for a hefty price tag, there’s the potential to get caught up in the process and lose valuable inventory.
The problem with house-shoppers is that they can’t see the house they’re selling, which means they can only make the decision to move on and sell when they’re ready to do so.
That means a house can only be sold if it has been sitting empty for a year or longer.
And even if the owner is willing to sell, they have to pay to do it.
The state’s law states that the buyer and seller have to have an agreement in writing to close a deal, and they must pay a fee to the association to get that done.
In other words, if a buyer doesn’t want to pay the fees, they can close the deal without the association getting involved.