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2025

what-is-“time-is-of-the-essence”-in-real-estate?

What is “Time is of the Essence” in Real Estate?

Key takeaways– When “time is of the essence” is included, contract deadlines become legally binding, not flexible targets.– Missing a deadline can be a material breach of contract.– Buyers and sellers both face real financial and legal consequences.– The clause is optional and negotiable, but powerful once included. In real estate, deadlines matter but not all deadlines carry the same legal...

public-improvement-districts-(pids)-in-texas:-what-homebuyers-should-know

Public Improvement Districts (PIDs) in Texas: What Homebuyers Should Know

Key takeaways A Public Improvement District (PID) is a designated area where homeowners pay an additional assessment to fund public amenities and infrastructure. PID assessments are separate from property taxes and may last 20 to 40 years. Several states besides Texas — Arizona, Colorado, California, Florida, New Mexico, Nevada, Utah, North Carolina, and Georgia — use similar special assessment...

what-is-a-mud-in-real-estate-and-what-texas-buyers-should-know-before-making-an-offer

What Is a MUD in Real Estate and What Texas Buyers Should Know Before Making an Offer

Key takeaways A Municipal Utility District, or MUD, provides water, sewer, drainage, and infrastructure in areas that lack city utilities. Homes in a MUD include a MUD tax that helps repay bonds issued to build public infrastructure. MUD tax appears on your property tax bill; however, it is separate from county, school district, and city tax rates. Homestead exemption generally does not reduce MUD...

seller-concessions-101:-what-they-are-and-how-they-can-help-you-save

Seller Concessions 101: What They Are and How They Can Help You Save

Seller concessions are closing costs or fees that a seller agrees to cover to help reduce a buyer’s upfront expenses. These costs are negotiated during the offer process, and seller concessions can make a home purchase more affordable without lowering the home’s sale price. In the first quarter of 2025, 44.4% of U.S. home sale transactions included seller concessions — the highest share in several...