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Learn more Information about MUD's & PID's in Texas and watch this video.

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Watch this quick video about PID'S & MUD's and I will show you what forms to use and how to do the research for MUD & PID info.

As of Sept. 1, 2021, sellers are required to provide a new notice to buyers when selling property located in a Public Improvement District (PID). If a seller fails to provide the required notice, a buyer will have the right to terminate the contract, in addition to other penalties. TREC and Texas REALTORS® sales contracts have been updated and TREC has promulgated a new PID notice to meet the statutory requirements. These new PID notice requirements are similar to current municipal utility district (MUD) notice requirements.

Watch this quick video about PID'S & MUD's and I will show you what forms to use and how to do the research for MUD & PID info.

New PID Notice Requirements
• Sellers of real property located in a PID must provide a notice to buyers prior to the execution of the sales contract. The notice may be given separately or as an addendum to the contract.
• Applies to sales contracts executed on or after 9-1-2021.
• Applies to all real estate transactions, including new construction, condominiums, commercial, and unimproved property.
• The new notice must contain specific information about the PID where the property is located, such as the name of the PID and the name of the municipality or county that authorized the PID.
• Buyers are required to sign the notice as evidence of receipt.
• **A separate copy of the notice must also be executed by both sellers and buyers at closing. Texas REALTORS® is working closely with the title industry regarding this new requirement.
• Penalties for failing to provide the PID notice:
o Buyers may terminate the contract at any time prior to closing.
o Buyers can file a lawsuit for damages after closing. Damages may require a seller to return all costs related to the purchase of the property back to a buyer with the buyer reconveying the property back to the seller.
o **If a copy of the notice is executed at closing, buyers may not sue for damages.
o These penalties are similar to current penalties applicable to the failure to provide a MUD notice.

Hey what’s up Michael here, Top Producing Agent Turned Real Estate Broker, Trainer and Coach. On this channel I help real estate agents build their business so they can create more Time and Money! So go ahead and HIT that Subscribe button right down there and whack the Bell so you’re sure to catch my future content and also while you’re at it, go ahead and give me a Thumbs up! Thanks!


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