Sellstate Metro Realty
Contact Info - Tel: 972-499-6900 / Fax: 972-499-6800 / Dir: 972-838-8583 / email me
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Contract Instructions for Agents
TREC Contract:
Paragraph 1: If the seller is listed in MLS, include it here, otherwise leave it blank.
Paragraph 5: If the title company is listed in MLS, include it here, otherwise it is "Seller's Choice"
Paragraph 6c: REO sellers usually have no surveys, and will not usually pay for a new one.
Paragraph 7: Section B(3) applies. No disclosure is required for foreclosures.
Paragraph 16: Most REO sellers will not mediate.
Paragraph 22: Most REO sellers have addendums that will be attached.
Page 8: Check buyer agent commission in MLS, it may not be 3%.
All offers for REO properties must include a pre-qualification letter or proof of funds for cash offers. Prequalification letters must be current, state a dollar amount for which your buyer is pre-qualified, and the dollar amount must be sufficient for the contract offer price. Your offer cannot be presented without prequalification from a lender or proof of funds.
All offers must also include a copy of the buyer's earnest money deposit check. Some REO sellers select the title company after the contract is executed. If the title company is not listed in MLS, leave the Pay To on the earnest money deposit check blank.
Contracts must be clear, complete, and legible. Contracts that are not clear, incomplete, or illegible cannot be submitted.
- Sellstate Metro Realty
- 1651 North Collins Blvd. Suite 100
- Richardson, TX 75080
- Tel: 972-499-6900
- Fax: 972-499-6800
- Dir: 972-838-8583
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