10 things to Know About T-47 Residential Real Property Affidavit
Hello and welcome to Houston First Time Home Buyers Edition, formally First Home Houston (FHH), where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home. If you are purchasing a brand new home, you may not come in contact with the T-47 Residential Real Property Affidavit.
However, if you are purchasing an existing home you may. The requirement for the document is usually if any changes have been made to the property or an older survey is being used. Here are a few things to know about the T-47 Residential Real Property Affidavit.
The T-47 is to be completed by the seller/s.
The document must be notarized to be considered valid.
The seller can take the document to a title company to have it notarized or take it to a bank.
The purpose of the document is to state if any changes have been made to the property and the date those changes were made.
The T-47 is required when using an older survey.
It is very important for the seller to list every change that was made to the property, that is not reflecting on the survey being used.
The document ensures that information about the property boundaries is accurate for title policy issuance.
The T-47 benefits the buyer.
The cost of the new survey can be negotiated.
Realtors cannot complete this document.
Knowing as much as possible about the property you are buying is always in your best interest. If you are purchasing an existing home, you and your Realtor must take the necessary time to ensure the property you are purchasing is what it said on the survey.
As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana
