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What to do with an unclear offer

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A pair of glasses and a silver pen sit on top of a contract.

02/13/2015 | Author: Editorial Staff

My client received an offer on her home in which the second box in Paragraph 4A(2) is checked indicating that the contract is not subject to the buyer being approved for financing. However, the buyer attached a completed TREC Third Party Financing Addendum for Credit Approval to the contract. What should we do with this offer?

With your client’s agreement, you should ask the buyer’s agent to clarify the buyer’s intention and require the buyer to resubmit an offer that clearly indicates the buyer’s intent.

The TREC Third Party Financing Addendum for Credit Approval should only be attached to a contract in which the first box in Paragraph 4A(2) is checked. This contract does not clearly express the buyer’s intended offer.

You would follow the same process for an offer in which the first box in Paragraph 4A(2) is checked and a completed TREC Third Party Financing Addendum for Credit Approval is not attached.

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Categories: Forms, Legal
Tags: forms, legal, legal faq, addendum

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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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